Besides groceries and petrol I can’t remember the last time I bought something in an actual bricks and mortar retail store. It seems I’m amongst a growing minority of shoppers driving Australia’s transition from traditional shopping to the online habit.
Data released today by the NAB today showed online retail sales for the month of March rose a very strong 0.8%, seasonally adjusted.
That, the NAB estimates, means that “online sales are now 8.0% higher compared to a year ago.” It means that Australians spent around $16.8 billion online in the 12 months to March 2015.
That’s only equivalent to 6.9% of spending at traditional bricks and mortar retailers (when cafes and restaurants are subtracted) and even though NAB chief economist Alan Oster told Business Insider that he doesn’t think traditional retailing will mirror the strength online, this report has started to become a reasonable indicator for ABS retail sales over recent months.
We’ll know tomorrow at 11.30am AEDT Wednesday when the ABS releases March retail sales.