Australian's love affair with online sales continues, but it's crashed for 'daily deals'

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.

NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at