Australian retail turnover received a boost from Taylor Swift’s Eras Tour concerts in Sydney and Melbourne, according to the Australian Bureau of Statistics (ABS).
Retail sales grew 0.3 percent in February, but were only up 0.1 percent when the impact of Taylor Swift was taken out of the equation.
ABS Head of Statistics Ben Dorber said the seven sold-out Taylor Swift concerts in Melbourne and Sydney lifted retail spending in February.
600,000 Swifties flocking to these events led to higher spending on clothing, merchandise, accessories, and dining out, he noted.
“Looking past the temporary and one-off impact of the Taylor Swift concerts, underlying growth in retail turnover was up only 0.1 percent in trend terms. After a period of higher volatility from November through to January, underlying spending has stagnated,” Mr. Dorber said.
Clothing, footwear, and personal accessory retail sales rose 4.1 percent, while department spending jumped 2.3 percent in February, the ABS said.
Mr. Dorber explained retailers in the fashion industry had told the ABS that Taylor Swift outfits improved sales.
“Fashion and accessory retailers told us offerings of Taylor Swift-inspired outfits and related do-it-yourself accessories added to turnover in February,” he said.
Further, cafes, restaurants, and takeaway spending lifted 0.5 percent in February, following a 1.4 percent rise in January.
“Another rise in turnover for catering services, cafes, restaurants, and takeaway businesses showed that consumers are still prepared to spend at large social events as seen last month with the big crowds at the tennis and cricket,” Mr. Dorber said.
The 0.3 percent lift in retail during February follows a 1.1 percent rise in January and a 2.1 percent drop in December.
Meanwhile, monthly inflation figures for February revealed a 3.4 percent increase in the Consumer Price Index.
“The monthly CPI indicator rose 3.4 percent in the 12 months to February, following a 3.4 percent rise in the 12 months to January,” the ABS said on March 28.
In February, the average inflation rate was 3.9 percent, a slight increase from 3.8 percent in January.
ANZ economists Madeline Dunk and Catherine Birch said this was broadly consistent with their headline inflation forecast of 0.5 percent higher in the first quarter.
Taylor Swift’s Dad Will Not Face Any Further Police Action
Meanwhile, Taylor Swift’s Dad, Scott Swift, will be spared from any police action after an alleged encounter with an Australian photographer.Ms. Swift and her party took a yacht trip on Sydney Harbour following a concert performance in Sydney on Feb. 27.
At the time, Ms. Swift’s representative said, “Two individuals were aggressively pushing their way towards Taylor, grabbing at her security personnel, and threatening to throw a female staff member into the water.”
A New South Wales police spokesperson told the Epoch Times on March 28, “Officers attached to the North Shore Police Area Command have conducted an investigation following a report of an assault on Neutral Bay Wharf on Feb. 27, 2024.
They concluded that “no further police action” would be taken.
