Retail spending benefits from Swift lift

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Taylor Swift mania buoyed retail trade through February after the international pop megastar’s seven sold-out arena concerts in Melbourne and Sydney bolstered spending on eating out, clothing and merchandise.

With 600,000 concertgoers flocking to seven sold-out Taylor Swift shows in Sydney and Melbourne, statisticians noted an impact in spending on fashion and cafes.

The international pop sensation Taylor Swift sold 600,000 concert tickets across seven packed out shows. Picture: NCA NewsWire / Richard Dobson According to the seasonally adjusted figures, the monthly result brought annualised retail spending to 1.6 per cent for the year through to February. Meanwhile, spending on household goods slipped 0.8 per cent, and food retailing edged 0.1 per cent lower.NSW and Victoria reported stronger increases in retail spending than the headline result, rising 0.6 per cent and 0.7 per cent, respectively, as an influx of interstate travellers splashed out.

 

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