Retail & Gaming Booming Say The Experts

Written by Wire Service     05/11/2009 | 19:14 | Category: TVS & LARGE DISPLAY

General retail sales grew in September by 1.4% while the sale of video and computer games in Australia are poised to outstrip last year's record figure, which fell just short of $2 billion claim research group GFK and the Australian Retail Association.

Retail & Gaming Booming Say The Experts

GFK also claim  that the gaming industry tracked 8.3 percent higher in September, compared to the same period last year.  Sales of console hardware have risen 10 percent, and game sales are up 5 percent to $716 million ­ with Christmas still to come.

The Interactive Games and Entertainment Association said the rise of family entertainment continues to underpin much of the industry's growth.

Family console games now account for 32 percent of all games sold, followed by action games at 13.2 percent. Family entertainment games outstripped action games for the first time last year, accounting for 28 per cent of games software sales.

Helping gaming vendors is a positive outlook for the retail in general, claims the Australian Retailers Association,which according to their latest figures  rose 6.4 per cent in 2009. Sales also grew 1.4 per cent over the quarter.

Russel Zimmerman Executive Director for the Association said ""The concern for retailers now is to keeping consumer spirits high in the lead up to Christmas. Although the reinstatement of the ABS trend series shows modest retail sales growth for most of the year, retailers would still like to see some stronger figures before they declare recovery," he said.

"The message to consumers who may be feeling unsettled after two consecutive interest rate rises is to responsibly enjoy the gift giving spirit of Christmas knowing the Australian economy is on its way to recovery."

According to the ABS figures, all states around Australia witnessed growth in retail trade for September.

"September retail trade increased in all states (NSW 0.5%, VIC 0.5%, QLD 0.1%, SA 0.1%, WA 0.3%, TAS 0.4%, NT 0.1 and ACT 0.5%) and was a pleasing result for retailers who are preparing for a stronger Christmas trading period," he said.