Fashion sales in Victoria have grown 6.8% over the past 12 months, doubling the state's average annual growth for fashion sales numbers according to research by Savills.
The report analysed fashion retail sales in each state and found above average sales growth in Western Australia (3.2%) and the ACT (8.0%) while the national average for growth remained at 3.1%.
However, there were disappointing numbers for New South Wales and Tasmania with New South Wales falling 3% below their annual average for growth at 1.3% and Tasmania posting a sales decline of 6.4% for the year.
The report highlighted that there should be cause for some cautious optimism amongst retailers, with the report finding that record employment growth over the past 12 months could contribute to an increase in retail trade.
“After a largely dismal year for Australian retailers in 2017, there are hopes that record employment growth will translate to increased wages, which in turn will help to drive retail trade in the coming year.
“Expect to see a continuation of strong demand across retail generally but be prepared for greater competition, particularly as Australia's exposure to e-commerce retail rises on the back of Amazon's entry into the market.”