Growth in online retail sales continues to outpace the traditional sector, however the trend towards stabilising is also becoming more pronounced according to the latest data from NAB.
The latest data from National Australia Bank’s Online Retail Sales Index reveals ongoing growth through August, which rose 0.7 percent compared to July and 8.3 percent on the same month in 2013.
As such, Australians are estimated to have spent $15.7 billion online in the 12 months to August 2014, which equates to 6.6 percent of traditional spending as measured by the ABS to June 2014.
Online sales growth on a year-do-year basis expanded across nearly all categories this August, with key growth areas including electronic games and toys, as well as homewares and appliances.
In contrast, the daily deals category has contracted following two months of growth by -4.7 percent, along with personal and recreational goods at -1.5 percent.
However, this growth in online sales – while continuing to outpace traditional retail – has been slowing gradually. In the first 12 months of NAB’s index, which ended in January 2011, growth was up 31.8 percent for the year. The comparable figure for January 2014 was just 12.8 percent.
Figures from NAB’s Online Retail Sales Index, August 2014.