The latest MasterCard SpendingPulse report for February has shown South Australia to once again be leading the nation in a number of retail sectors including Total Retail Sales showing a 4.2% growth on year-on-year comparison ahead of the national figures:
- Nationally restaurant sales had strong growth and this was buoyed by particularly strong South Australia growth at 13.5%.
- South Australia lead the nation in household goods sales with 4.8% year-on-year growth
- Food retailing in South Australia was 4.0% year-on-year, in line with the national figure
- Clothing stores nationally increased and this was bettered by the South Australian figure of 2.2%.
These strong results for South Australian retailers and hospitality will comfort interstate and international retailers looking at entering the South Australian market and considering Adelaide as a location. Once again the growth in the restaurants sector is a very positive story for the City of Adelaide, taking into account that there are more than 1,100 food related businesses in the City which employ in total more than 10,000 workers (Economic Insights).
In 2017 City of Adelaide engaged MasterCard Advisors to obtain data and insights on retail expenditure in the City. The MasterCard SpendingPulse is one of the reports they produce, providing a macroeconomic analysis of retail performance and spending, using aggregated and anonymous transaction data, along with data from other payment forms including cash, to offer insights into consumer spending trends.
To find out more please contact Matt Grant, Associate Director Economic Development and Tourism on 8203 7779 or firstname.lastname@example.org