Australian online retail sales surged by 10.8% in the year to April, leaving the total value of online purchases standing at a whopping $19.6 billion.
According to the National Australia Bank’s (NAB) latest online retail index, the pace of sales was close to three times faster than the growth recorded in traditional bricks and mortar retailers over the same period.
At close to $20 billion, online spending now equates to 6.6% of all Australian retail sales, and going off the chart below, supplied by the NAB, that percentage is only going to get larger.
The red line represents online spending with the blue line accounting for traditional retail sales.
Although bricks and mortar retailing is far greater in terms of dollar spend, totaling just over $295 billion in the 12 months to April, the growth is barely recognisable when compared to that seen in online sales.
By category, the NAB notes that online sales increased in all areas aside from daily deals websites (-2.9%) and homewares and appliances (-0.2%) over the past year, led by food catering which surged by 47.6%.
Other notables included media sales which increased by 27.3% and fashion retailing which rose by a smaller 8.5%.
Earlier today, Australia’s official retail sales report for April was released by the ABS, disappointing markets with an increase of just 0.2%.