Mastercard SpendingPulse Report Finds Father's Day Lifts Retail Sales
Australian Consumer Spending Grows by 3.1% year-on year
November 7, 2016
According to the latest Mastercard SpendingPulse™ report, total Australian retail sales grew by 3.1 percent year-on-year in September, partially influenced by Father's Day spending at the beginning of the month.
The report shows that both clothing and department stores received a boost from Father’s Day spending and maintained momentum throughout the month, pointing towards a modest growth outlook despite a challenging economic environment.
"Assisted by Father's Day holiday spending, growth rates remain positive for the sixty-seventh month in a row," said Sarah Quinlan, Senior Vice President, Market Insights for Mastercard Advisors.
"The country's economy is facing challenging economic circumstances and unemployment increased again this month, which leads us to moderate the growth of spending outlook going forward. Also, there was significant discounting that assisted in driving sales in September, which is not positive for the bottom line of retailers as they head into the holiday season."
The SpendingPulse report provides a macroeconomic analysis of retail performance and spending, using aggregated and anonymous transaction data, along with data on other payment forms including cash, to offer insights into consumer spending trends.
Andrew Cartwright, Senior Vice President and Country Manager, Australia, Mastercard said, "During challenging economic times, it's increasingly important for businesses to monitor consumer spending trends; it's these trends that give businesses the opportunity to better connect with customers moving forward."
"Despite the challenging economy, it's great to see that this month's report still shows stable growth in spending. With Christmas well on its way, it’s also encouraging that occasions like Father’s Day are still attracting shoppers."
The report is available to subscribers across six countries including the U.S. U.K, Canada, Hong Kong, Japan and Brazil.
About the MasterCard SpendingPulse Report
Launched in 2006, Mastercard SpendingPulse is a macroeconomic indicator that reports on national retail spending and performance. The report is based on aggregate sales activity on Mastercard cards, coupled with estimates for all other payment forms, including cash. Mastercard SpendingPulse reports and content, including estimated forecasts of spending trends, do not in any way contain, reflect or relate to actual Mastercard operational or financial performance, or specific payment-card-issuer data.
About MasterCard Advisors
Mastercard Advisors, a division of Mastercard, provides clients around the world with insights and solutions that drive business impact and ROI. The company uses advanced analytics and deep payments expertise to translate data into actionable behavioral insights and customized services. With more than 43 billion anonymized transactions processed annually in 210 countries worldwide, the company leverages aggregated information and a consultative approach to help financial institutions, merchants, media companies, governments and other organizations of all sizes grow their businesses.
Mastercard (NYSE: MA), www.mastercard.com, is a technology company in the global payments industry. We operate the world's fastest payments processing network, connecting consumers, financial institutions, merchants, governments and businesses in more than 210 countries and territories. Mastercard's products and solutions make everyday commerce activities — such as shopping, traveling, running a business and managing finances — easier, more secure and more efficient for everyone. Follow us on Twitter @MastercardAP and @MastercardNews, join the discussion on the Beyond the Transaction Blog and subscribe for the latest news on the Engagement Bureau.