Online Retail Sales Index monthly update – February 2015
Online sales trend growth pick up in February.
- Online retail experienced strong growth in February, with sales growing 1.7% compared to January (0.3%). This month’s NORSI trend growth result is much faster than that recorded in February 2014 (0.2%). We estimate that online sales are now 8.7% higher compared to a year ago.
- ABS data showed growth of comparable traditional retailers in January to be 0.1% higher than December, and 3.7% higher than a year ago.
- With these results, January traditional retail sales have been outpaced by online sales for that month, and with the February result, it is likely that this will continue.
- In dollar terms, we estimate Australians spent $16.7 billion on online retail in the 12 months to February 2015. This level is equivalent to 6.9% of spending at traditional bricks & mortar retailers as measured by the ABS (excluding cafés, restaurants and takeaway food, to create a like-for-like comparison) in the 12 months to January 2015.
- All categories except Daily Deals and Personal Goods recorded growth in February. Although Electronic Games and Toys still represent a small share of spend, growth in this segment continued to outpace other categories. However this category, along with Department and Variety Stores, and Media recorded a slower growth than January. Groceries and Homewares saw higher monthly growth compared to January. Fashion saw much more subdued growth.
For further details please see the attached document.
About the Author: Brien McDonald
Brien is an Economist at NAB and is involved predominantly in the area of industry insight using risk metrics. Brien’s chief responsibilities are Industry Ratings and analysis that provides industry insights. He is a regular attendee on Sector boards and contributor to Risk appetite statements. Prior to NAB Economics Brien was involved in the NAB Credit Risk area, in the development and monitoring quantitative credit risk assessment models. Before life at NAB, Brien was an Associate Lecturer in Economics at LaTrobe University, teaching in areas related to economic development focussing on Asia, and the international business environment.