The ABS has released figures that show the retail industry is on track for a record holiday period.
Figures for October showed retail turnover rose by 0.5%, seasonally adjusted, which follows a rise of 0.6% in September.
National Retail Association (NRA) chief executive Dominique Lamb said the figures were a good sign for retailers during this busy trade period.
“The NRA has projected consumers to spend over $1 billion a day during the Christmas trade period – which encompasses the final two weeks of November and all of December – and the October figures show that the industry is well and truly on track to smash the record spend for the Christmas trade period.”
The report also revealed that this increase was national, with every state and territory experiencing growth.
Queensland was the state with the strongest figures, with Lamb projecting even further growth following the commencment of the extended trading hours in the south-east area.
Read how these new hours will impact the Queensland economy here.
Online retailing also performed well, contributing 3.9% to total retail turnover in original terms.