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ASX 200 retail shares lift as Aussies head into Christmas with $240bn in savings

Christmas may be coming early for ASX 200 retail shares with the latest consumer survey pointing to a spending spree…
The post ASX 200 retail shares lift as Aussies head into Christmas with $240bn in savings appeared first on The Motley Fool Australia. –

Christmas may be coming early for ASX 200 retail shares with the latest consumer survey pointing to a spending spree heading into the holiday season.

The 银行及金融 - 澳洲联邦银行 (ASX: CBA) today released its Household Spending Intentions (HSI) Index for November 2021, which hit its highest level since December 2019.

While the index will put a smile on the faces of ASX retailers, some are set to benefit more than others.

$240bn boost for ASX 200 retail shares

Interestingly, ASX investors may not have caught on to this just yet as just about all ASX shares in the sector rallied today. This caused the Consumer Discretionary sector to rise 1.6% when the S&P/ASX 200 Index’s (Index:^AXJO) gained just under 1%.

Expectations of a spend-a-thorn is backed by the $240 billion in savings that households have stashed away during COVID-19 lockdowns.

But as mentioned, not all retailers are likely to benefit to the same degree. The CBA’s HSI, which provides a gauge of Australian consumer spending, jumped 2.1% to 110.3 in November.

ASX 200 retail shares best placed to benefit

Within the index, spending on Transport recorded the biggest rise of 21.5%. This is followed by Travel at 14.7%, Retail at 9.6% and Household Services at 9.4%.

The strong rise in the transport category bodes well for the Ampol Ltd (ASX: ALD) share price and Bapcor Ltd (ASX: BAP) share price.

Holiday-deprived Aussies are also looking to spend big on their next getaway. Travel spending surged 77% since the Delta lockdown low in August this year, according to CBA. The biggest increases were for accommodations, travel agents, airlines and tourist attractions.

That’s good news for the Webjet Limited (ASX: WEB) share price, Flight Centre Travel Group Ltd (ASX: FLT) share price and Qantas Airways Limited (ASX: QAN) share price.

Other ASX retailers benefitting from spending spree tailwinds

Our best-known retailers will also be sharing in the Christmas cheer. Some of the strongest increases within this category are department stores, clothing, furniture & household equipment, electronic stores, and household appliances.

Some of the better placed shares in this segment are the Harvey Norman Holdings Limited (ASX: HVN) share price, the Accent Group Ltd (ASX: AX1) share price and Kogan.com Ltd (ASX: KGN) share price.

Positive outlook

The good times could continue to roll on too as the economic recovery extends into 2022.

“The CommBank HSI Index has shown a continued and broad based recovery in consumer spending since the end of lockdowns,” said CBA Chief Economist, Stephen Halmarick.

“While we have seen sharp increases in categories like transport and travel, there is still plenty of room for further growth.”

The post ASX 200 retail shares lift as Aussies head into Christmas with $240bn in savings appeared first on The Motley Fool Australia.

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More reading

Here are the 3 heaviest traded ASX 200 shares this Tuesday so far

Why is the Flight Centre (ASX: FLT) share price soaring 6% higher today?

Why is the Webjet (ASX:WEB) share price flying 4% higher today?

Why Bank of Queensland, Imugene, Webjet, and Zip shares are pushing higher

Why has the Australian Ethical (ASX:AEF) share price tanked 17% in a week?

Motley Fool contributor Brendon Lau owns shares of Commonwealth Bank of Australia and Webjet Ltd. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Kogan.com ltd. The Motley Fool Australia owns shares of and has recommended Harvey Norman Holdings Ltd. and Kogan.com ltd. The Motley Fool Australia has recommended Accent Group, Bapcor, Flight Centre Travel Group Limited, and Webjet Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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