Retail turnover jumps 0.3 per cent in February in part due to Taylor Swift tour

28/03/2024

Australian retail turnover jumped 0.3 per cent in February thanks in part to Taylor Swift.

The ABS said the seven sold out Taylor Swift concerts in Sydney and Melbourne lifted retail spending to $35.9 billion.

More than 600,000 Swifties spent money on clothing, merchandise, accessories and dining out.

Morningstar Retail Analyst Johannes Faul joined Sky News Australia to discuss the rise in retail spending throughout the month of February.

Mr Faul said there is “good news” for retailers as they expect sales growth to “pick up” going into the next fiscal year and remain at high levels going forward.

Retail turnover jumps 0.3 per cent in February in part due to Taylor Swift tour

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