Retail sales for June showed a surprisingly positive result with spending up by  2.4 per cent. Much of this spending was due to the eased lockdowns around the country with many people making their way to restaurants and cafes which were allowed to now open with fewer restrictions.
Interestingly, the amount spent in the month was a huge $29.7 billion which is 8.2 per cent higher than the same time last year where there was no Coronavirus epidemic to deal with.
Despite record unemployment and the economy being propped up by the job keeper and job seeker stimulus, spending increased. Part of this increase was likely driven by the enormous number of people that took advantage of the government’s offer of allowing early withdrawal of super for those that lost their jobs.
Last month Cafes and restaurants had big double digit increases in spending and it continued on this month with food services rising by over 20 per cent. Despite this strong increase month on month, it is still significantly lower than the same time last year by 17 per cent.
Clothing retail stores continued a second month of strong gains as well with a 19 per cent increase however this is still lower than last year as well. Stores like City Beach are doing well with great online sales. Using a City Beach coupon you can save on your purchase from City Beach.
It is expected that short term, spending will continue to rise to normal levels however the recent Coronavirus breakout in Victoria will dampen the spending mood not only in Victoria but across the country.