January report shows clothing as the driver of growth, significantly leading overall retail
Sydney – March 6, 2017 – Mastercard Advisors, a unit of Mastercard (NYSE: MA) reveals the results of the January SpendingPulse™ report in Australia, showing growth in total retail sales by 3.4 percent year-over-year.
The January report puts the strong performance of Australia’s clothing stores in the limelight, as sales were roughly 12 percent above average for this time of the year. However, this increase also highlighted that Australian consumers are making more considered choices, preferring specialty spending over department stores.
The SpendingPulse report provides 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.
“Despite employment and consumer confidence falling, the Australian consumer remains strong, yet focused in their spending. Overall January retail sales were about 11 percent above average for this time of year, suggesting a positive outlook for moderate growth in the coming months,” said Sarah Quinlan, Senior Vice President and Group Head of Market Insights for Mastercard Advisors.
The SpendingPulse report provides an early overview of market indices to help retailers, investors, card issuers, banks and government agencies in their decision-making processes. Available to subscribers across six countries including the United States, it is a reliable industry source for consumer spending trends and analysis.
“With an increasingly challenging economic environment, it’s more important than ever for businesses to understand trends in consumer spending. Mastercard is proud to offer these insights to businesses through the SpendingPulse report, enabling them to leverage these trends and better inform their future business decisions,” said Andrew Cartwright, Country Manager, Mastercard Australia.
SpendingPulse™ Australia Methodology
Mastercard analyses the transactions processed by the Mastercard Australian payments network and uses statistical models, which take into account the trends of other payment methods (cash) to produce accurate and efficient reports. SpendingPulse Australia is based on a robust data sample drawn from all businesses accredited by Mastercard in Australia plus other additional data sources.
About MasterCard SpendingPulse™
Launched in 2006 by Mastercard Advisors, 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. For more information, go to http://www.mastercardadvisors.com/.
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 @MastercardAU and @MastercardNews, join the discussion on the Beyond the Transaction Blog and subscribe for the latest news on the Engagement Bureau.
Saynaree Oudomvilay, Weber Shandwick
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