The heatwave currently being felt across multiple states appears to be favouring Australian retailers and shopping centres, with reports that air-conditioner unit sales are going through the roof.
Myer Holdings Ltd (ASX: MYR) said that its Victorian stores had experienced a 1000% increase in the sale of fans on Wednesday, compared to the same time in 2013, while Harvey Norman Holdings Limited (ASX: HVN) said its stores across Victoria, South Australia and New South Wales had all been "rushed" by customers wanting to buy air-conditioners, as reported by The Australian Financial Review.
Shopping-centre giant Westfield Group (ASX: WDC) also said that its Melbourne and Adelaide stores had experienced a rise in the number of visitors, as customers desperately tried to escape the heat.
Foolish takeaway
Although online shopping may be more convenient than having to go to a physical store, consumers do not have to wait for their goods to arrive by actually going to the shops. While many investors had pegged the demise of the sector as online shopping becomes more and more popular, some of the retailers still have plenty to offer (it's not just fans and air-conditioners)!
Investors wanting to gain exposure to the retail sector could consider buying into Myer. It is increasing its online presence and should continue to benefit from a low interest rate environment and growing consumer confidence. What's more, it currently boasts a dividend yield of 6.4%, fully franked.
