Can the results of a two-speed retail sector be any more pronounced? The latest NAB Online Retail Sales Index shows online growth versus traditional shrinkage.
The latest data presented by the NAB Online Retail Sales Index for June reveals that online retail continues to display strong growth – 0.9 percent above May’s results – while traditional retailers may be continuing to wallow in the doldrums.
NAB’s ‘NORSI’, as the index is often referred to, draws from seasonally adjusted transactional cards data, non-seasonally adjusted data compiled by Quantium and specific reference to traditional retail sales data sourced from the Australian Bureau of Statistics (ABS).
NAB has referred to ABS data to show negative comparable sales growth within traditional retail in May, 0.3 percent lower than in April – a figure that is only 3.9 percent higher than at the same time last year. By comparison, online retail has climbed 9.5 percent higher in June when compared with the same period in 2013.
Other Key Findings:
- NAB estimates Australians have spent $15.5 billion in online retail in the 12 months to June
- Online now equates to 6.6% of traditional spending as measured by the ABS
- Online sales growth (year-on-year) increased in nearly all categories, with only Personal & Recreational Goods showing a small decline
NORSI stats update for June 2014