28 Apr 2016
AUD: Online retail sales increases 12.4% to $19.3 billion in March- NAB
Alan Oster, Research Analyst at NAB, notes that the Australian consumers spent an estimated $19.3 billion online in the past year, primarily on homewares, groceries, media and fashion.
Key Quotes
“According to National Australia Bank’s (NAB) latest Online Retail Sales Index in-depth report, online spending increased 12.4% over the last year.
“While the online retail sector is still smaller, in comparison to traditional ‘bricks and mortar’ retailers online sales have grown at around double the pace over the past year,” NAB Chief Economist Alan Oster said.
Mr Oster also said that domestic retailers continued to show strength against international counterparts, accounting for about 81% of spending in March.
“Depreciation of the Australian dollar since 2013 has helped support increased sales by domestic online retailers, with growth particularly buoyant in homewares and appliances, electronic games and toys, and fashion,” Mr Oster said.”
Key Quotes
“According to National Australia Bank’s (NAB) latest Online Retail Sales Index in-depth report, online spending increased 12.4% over the last year.
“While the online retail sector is still smaller, in comparison to traditional ‘bricks and mortar’ retailers online sales have grown at around double the pace over the past year,” NAB Chief Economist Alan Oster said.
Mr Oster also said that domestic retailers continued to show strength against international counterparts, accounting for about 81% of spending in March.
“Depreciation of the Australian dollar since 2013 has helped support increased sales by domestic online retailers, with growth particularly buoyant in homewares and appliances, electronic games and toys, and fashion,” Mr Oster said.”