People in Canberra spend more per head shopping online than any other city in Australia, according to analysis by the NAB.
Overall, online shopping by Australians is dominated by the 35 to 44 age group. By geography, Canberrans are the biggest spenders.
Regional Western Australia is another hot spot. “Metro residents are spending the most online, but regional growth overtook metro growth in January,” the NAB says.
In January, regional online spending increased 0.5% compared to 0.3% nationally.
NAB doesn’t release data on actual dollar amount spending by state or city but overall in the 12 months to the end of January, each man, woman and child in Australia spent $695 online.
Growth in international online retail sales accelerated in January by 0.9% to 7.4% for the year. Some retailers offering reduced costs such as postage. Anecdotally this is in response to the impact of the depreciating Australian dollar.
Spending on domestic sites increased by just 0.2% to 9.5%.
These insights are contained in the NAB’s latest quarterly report on online spending showing Australians spent a record $16.6 billion online in the year to January, up 9%.
The NAB’s Online Retail Sales Index shows domestic sales dominate with 74.8% of total online spending controlled by local retailers in January. This is, however, down from 76% in December.
Alan Oster, NAB Chief Economist, says the growth, while still strong compared to traditional bricks and mortar retail, is not as high as past years.
“Comparable year growth in traditional bricks and mortar retail (up 4.7%) was still outpaced by the improvement in online retail,” he says. “That said, recent online growth has been more subdued than the 20% to 30% year-on-year growth rates recorded in earlier years.”
Department and variety stores continue to have the largest online market share reflecting the investment they have made as part of their commitment to the providing an omni-channel retail offering.
NOW WATCH: Briefing videos
Business Insider Emails & Alerts
Site highlights each day to your inbox.