Psst, Myer: NAB Data Shows That Online Shopping Is Going Gangbusters

Amazon Warehouse – Getty/Matt Cardy

Online retail sales continued to grow at a frenzied pace in November, according to new NAB data that should serve as a warning to giants like Myer whose websites still fail.

This morning’s NAB Online Retail Sales Index showed how non-seasonally adjusted November sales rocketed on a combination of Christmas shopping, and an increasingly technology-savvy population.

Sales for the year rose to $14.6 billion, up 10.7% year-on-year.

Importantly for Bernie Brookes and Myer, online sales in the Department and Variety Stores category rose 11%. Last week, Brookes tried to talk down the impact of a week-long post-Christmas website outage, stating that online sales accounted for only 1% of Myer’s business.

From NAB:

The $14.6 billion of online sales for the year represents only about 6.4% of turnover at traditional “bricks and mortar” retailers, but the trend is evident.

On a 3-month smoothed basis, in November online sales grew almost three times as fast as traditional retailing at 1.53%. From NAB:

“The improved growth trend for online retail sales reflects almost uniform improvement in conditions at the category level.

In year-on-year terms, the rate of growth was up to +10.7% – faster than that observed in some recent results.

Particular strength was observed in Media (+28%), and Groceries and Liquor (+16%).”

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