Latest CBA  data shows a spike in retail sales.

 

Sales of stationery products in Sydney and Melbourne’s CBDs have bounced back after nearly two years in the doldrums due to the global pandemic.

 

According to the Commonwealth Bank’s latest merchant terminal data, sales of stationery and office products were up 55 per cent in the first week of March compared to the previous week.

 

The results were achieved despite the weather conditions on the nation’s east coast, with most of the sales growth witnessed across retail businesses.

 

Week on week, Sydney CBD businesses saw a 30 per cent jump in retail sales, and Melbourne’s retail sales grew by 31 per cent.

 

CBA group executive, business banking Mike Vacy-Lyle told Business News Australia that he was encouraged by the positive signs but cautioned the sales growth might still be impacted by the wet weather.

 

“It is encouraging to see spending in Australia’s largest capital cities on the up and we hope to see this trend continue as more people start coming back into city centres over the coming weeks and months,” he said.

 

Where Sydneysiders are spending their money in the CBD:

Where Melburnians are spending their money in the CBD: