Retail sales up in May: ABS report – insights for retail newsagents

The report from the Australian Bureau of Statistics on retail sales in May shows growth. The newsagency channel falls under other retailing: up 2.2%.

This is a little on the low side compared with I have seen in data from several retail newsagency businesses comparing May 2023 with may 2023, but not too far off.

Given the ABS data and the data I have seen from some newsagencies, if you were down in May you have to figure out why and have a plan to reverse the trend. The last position you want to be is revenue decline while others in your sector are experiencing growth.

While, for sure, there is noise in the press about consumer confidence, I am seeing people spend on what they love: strong card, gift, homewares and self-care product sales.

The state / territory results are interesting.

This does show a different in performance between the states and territories. NT, ACT, VIC and NSW, in that order, are the places to be. Tasmania, at the other end, has challenges. These geographic results are no excuse or justification for individual store results though.

Look, this data from the ABS is already a month old, and it’s general. The best thing any retailer can do is look at the performance of their business, comparing themselves now with the same period a year ago. We truly are our best competitors. That’s why I think, for sure, be aware of the BAS results – but look at your own business in more detail as it is from that analysis that a path forward will reveal.

Now, in case you are wondering about other retailers in other and worry that other retail may skew the results enough to explain where you sit compared to others, here’s the list from the ABS:

• Other retailing
  • Newspaper and book retailing
    • Newspaper and book retailing (4244)
  • Other recreational goods retailing
    • Sport and camping equipment retailing (4241)
    • Entertainment media retailing (4242)
    • Toy and game retailing (4243)
  • Pharmaceutical, cosmetic and toiletry goods retailing
    • Pharmaceutical, cosmetic and toiletry goods retailing (4271)
  • Other retailing n.e.c
    • Stationery goods retailing (4272)
    • Antique and used goods retailing (4273)
    • Flower retailing (4274)
    • Other-store based retailing n.e.c (4279)
    • Non-store retailing (4310)
    • Retail commission-based buying and/or selling (4320)
• Cafes, restaurants and takeaway food services
  • Cafes, restaurants and catering services
    • Cafes and restaurants (4511)
    • Catering services (4513)
  • Takeaway food services
    • Takeaway food services (4512)