Online Retail Sales Index: In depth report – April 2012
The NAB Online Retail Sales Index provides key insights into online spending in the retail goods space, capturing domestic and international trends, as well as regional and age demographic trends. It’s a unique tool based on up to 2 million non-cash transactions per day, scaled up to replicate the broader economy.
The value of the NAB Online Retail Sales Index is the insight it provides into online versus traditional retail spending. Based on approximately 2 million non-cash transactions per day, the data provides the clearest picture of retail spending behaviour available.
According to the Index, the value of online sales in Australia for the year to April 2012 was $11.1 billion. However, our research shows a clear slowdown in growth over the past year, with year-on-year growth rates declining to 15.5% in April. The Household goods and Electronics sector was the key driver of this slowdown, with growth rates turning negative in April, at -5%. This sector clearly diverges from other categories, which were stable at or above 20% year-on-year. Weakening in domestic demand and consumer behaviour regarding recent tablet sales may have contributed to this trend.
Overall, growth rates for online retail still outstrip traditional retail growth, demonstrating a gradual but steady shift in buying behaviour. Western Australia is driving online growth, with the 30s, 40s and 50s age groups driving an exceptionally strong 32% year-on-year online growth level. We look forward to sharing more insights from our online database with you in the coming months.
– Alan Oster, Group Chief Economist, NAB
For further analysis download the full report.
Group Chief Economist
National Australia Bank
+61 (0) 3 8634 2927
Head of Consumer Sectors
NAB Institutional Banking
+61 (0) 2 9237 1249
About the Author: NAB Group Economics
NAB’s Group Economics consists of a leading team of economists who provide accurate, timely and relevant updates on domestic, international and industrial economic trends. Headed up by the Group Chief Economist, Alan Oster, the team is comprised of three distinct departments: - Australian economics and commodities - International economics - Industry economics The team publish a wealth of content including reports, surveys, forecasts and indexes.