CHEYANNE ENCISCO: West Australians hit pause on shopping following bumper sales period to prioritise travel
YOUR MONEY: West Australians have hit pause on their shopping following a bumper Christmas sales period and opted for travel during the January summer break.
West Australians have hit pause on their shopping following a bumper Christmas sales period and instead opted for travel during the January summer break, new spending data suggests.
Department stores, including discount chains, and sporting and toy shops all posted double-digit declines in the number of customers spending month-on-month in January, according to the latest figures from Bankwest.
Meanwhile, the number of transactions on airlines increased 9.9 per cent and total spend rose by over 16 per cent.
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By continuing you agree to our Terms and Privacy Policy.Travel agencies and car rentals also posted an increase in the number of customers, up 8.7 per cent and 4.5 per cent, respectively.
Bankwest head of everyday products Allan Emery said there was a significant pullback in spending in January and traditional retail categories saw the expected declines after December’s highs.
“The festive and sales season clearly delivered a spending surge in December, so it’s not surprising to see January return to normal levels as many people take stock of their finances after Christmas,” he said.
“Travel and recreation categories strengthened, indicating Western Australians prioritised experiences and making the most of the summer break.”
Mr Emery said West Australians’ spending remained slightly above the same time last year, “but they’re being thoughtful, by focusing on value and where it matters most after the festive period”.
Overall spending in January fell 18.4 per cent, with nearly 10 per cent fewer unique customers transacting and a 9.8 per cent drop in average transaction value compared with the prior month.
Gen Z and Millennials were the only generations to see increases in total spend year-on-year in January.
