Economy

Retail sales volume dips 3.1%

  • Crucial month: Black Friday shoppers line up on Reid Street on November 24 last year

Retail sales volume fell for a third successive month in November — a key month for the industry with Black Friday sales and the run-up to Christmas.

Retailers took $95.7 million at the till, 0.7 per cent less than the same month in 2016. After inflation was taken into account, volume fell 3.1 per cent.

All sectors saw decreases and motor vehicle dealers saw the largest decrease in sales volume, with a 14.2 per cent dip, according to data released by the Department of Statistics today.

Apparel stores suffered a 7.2 per cent decline, while building materials stores saw a 4.1 per cent fall, while food stores’ sales volume slipped 1.8 per cent, liquor stores 3.1 per cent and fuel sales volume at services stations was down 2.2 per cent.

Returning residents declared overseas purchases valued at $6.4 million, 3.2 per cent higher than November 2016. This contributed to a combined local and overseas spending of $102.3 million.

Excluding Sundays, there were 25 shopping days during the month, the same as in November 2016.