Australia’s love affair with online retail continues.
The June results from the NAB Online Retail Sales Index show that sales jumped 2.4% during the month after plateauing in May with a rise of just 0.1%.
That’s taken the overall year-on-year growth rate to 10%, around 2.5 times stronger than growth by bricks-and-mortar retailers. The NAB says that this has in turn taken overall online sales in June to $17.3 billion of 7.1% of traditional retail sales.
The NAB said that except for “daily deals”, which are down 23.1% over the past 12 months, growth has been across the board.
“Growth accelerated in homewares and appliances (+25.9% yoy), electronic games and toys(+24.5% yoy), and to a lesser extent department and variety stores(+6.1%). Though slowing from the previous month, media (+16% yoy) and fashion (10.6%) have maintained double digit growth. Grocery and liquor (+2.5% yoy) continued to grow, albeit at a more moderate rate than last month,” the bank said in a note accompanying the release.
Separately, the NAB economics team is forecasting another strong rise of 0.5% in official ABS retail sales data for June, due to be released tomorrow at 11.30am AEST.