NAB Online Retail Sales Index Monthly Update: January 2016

In dollar terms, we estimate Australians spent $19.2 billion on online retail in the 12 months to January 2016.

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Online sales decrease 0.2% in January 2016

  • At -0.2% the latest seasonally adjusted NAB online retail sales index shows sales contracted slightly in January, after very strong growth in December (1.9%). 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 comparable traditional retailers in December to be flat (0.0% mom, s.a.), and 4.7% higher than a year ago. At 10.6% over the year, growth of online retail is more than double that of traditional retail sales.
  • In dollar terms, we estimate Australians spent $19.2 billion on online retail in the 12 months to January 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 December 2015.
  • In year on year terms, all retail categories sectors except Daily Deals (-8.2% yoy) had sales higher than last January, though most slowed relative to December. Annual growth was highest for food catering (+42.3% yoy). This category still represents a relatively small share of spend and is a relatively new addition to the index. Sales growth in the next fastest category, Media, accelerated slightly (23.9% yoy from 22.2% in December). All other categories had slower growth rates: Electronic Games and Toys (27.1% yoy vs 31.8% in December), Personal and Recreational Goods (9.5% yoy vs 11.9% in December), Fashion (7.1% yoy vs 10.2% in December), Grocery and Liquor (5.1% yoy vs 9% in December) Homewares and Appliances (3.4% yoy vs 5.5% in December), and Department & Variety stores (3.1% yoy vs 4.4% in December).

For further details, please see the attached document.

 

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