Monthly department store retail revenue Australia 2020-2024

As of August 2024, the monthly revenue generated by department store retail amounted to approximately 1.92 billion Australian dollars. Australia’s department store sector seems to be showing signs of recovery after its monthly turnover hit a significant low at the peak of the COVID-19 outbreak in Australia.

The first wave of COVID-19 infection in Australia

Following the first wave of coronavirus infections around March 2020, the Australian government introduced nationwide social distancing measures in an attempt to put a brake on the coronavirus spread. As many physical retail stores temporarily closed down, Australia’s entire retail trade industry witnessed a 17.7 percent month-on-month drop in its April 2020 revenue.

Online retailing on the rise

In the wake of the COVID-19 crisis, e-commerce retail thrived as physical store closures encouraged both consumers and businesses to turn to digital marketplaces. As a result, Australia’s online retail revenue soared to around 2.8 billion Australian dollars in April 2020 and peaked at around 4.3 billion in September 2021. The COVID-19 epidemic fundamentally changed Australian consumers’ e-commerce behavior, with these changes likely to be here to stay.