NAB Online Retail Sales Index: February 2016

Online sales increase 0.8 % in February 2016.

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  • At 0.8% the latest seasonally adjusted NAB online retail sales index shows sales grew strongly in February, after a slight contraction in January (-0.1%). At 0.6%, the trend estimate for online retail sales was slightly slower than the previous month. This suggests that looking through the month to month volatility, sales are still growing.
  • ABS data showed growth of traditional retailers to also grow in January (0.3% mom, s.a.), and 3.1% higher than a year ago. At 10.4% over the year, growth of online retail is more than triple that of traditional retail sales.
  • In dollar terms, we estimate Australians spent $19.2 billion on online retail in the 12 months to February 2016. This level is equivalent to 6.6% of spending at traditional bricks & mortar retailers as measured by the ABS in the 12 months to January 2016.
  • In year on year terms, all retail categories sectors except Daily Deals (-3.1% yoy) had sales higher than last February. Though slowing, Food Catering maintained the highest annual growth (35.6% yoy from 42.1% in January). Second highest growth category Electronic Games and Toys accelerated (35% vs 26.6%). Both of these categories still represents a relatively small share of spend. Although only 4th fastest, sales growth in fashion increased rapidly (13.6% vs 6.8%). All other categories had slower growth rates: Media (21.1% vs 23.8%), Personal and Recreational Goods (4.5% vs 10.9%), Grocery and Liquor (4.2% vs 4.7%), Homewares and Appliances (2.7% vs 3.3%), and Department & Variety Stores (2.5% vs 3.4%).

For further details please see the attached document.

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