This time first edition...

How has the broader industry changed since Fashion Exposed first launched in 2000? 

Australian retail industry turnover has seen steady growth between the years of 2000 and 2009. According to Australian Bureau of Statistics original quarterly data, retail turnover increased by almost $100 billion during 2000 to 2009, despite the economic uncertainty of the 2008 and 2009 periods.

Source: ACRS Analysis of ABS Statistics

As highlighted in the following table, 2001 experienced the highest growth in retail
turnover, with yearly improvement of 7.9 percent.

This boost may be reflective of the effect of the Goods and Services Tax (GST) introduced in the year 2000, which negatively impacted retail sales as consumers reduced spending in the face of higher prices.

However, consumer confidence recovered as the market adjusted to the GST, and by 2001, the industry recorded notable improvements. The year 2005 saw the lowest percentage change annual sales growth, with only 2.2 percent on 2004.

Interestingly, and despite the GFC, retail spending was quite resilient to increasing economic uncertainties and continued an upward trend over the following years, with sales increasing by 5.6 percent in 2009. The significant increase is also a reflection that the stimulus payments positively affected consumer spending.


Source: ACRS Analysis of ABS Statistics