Online Retail Sales Index monthly update – September 2012
Australian online retail sales up 23% yoy in September, but the level is still modest compared to traditional sales
- For the year to September 2012, Australia’s online retail sales totalled $12.1 billion. This figure is equivalent to 5.5% of the traditional bricks & mortar retail sales (excluding cafés, restaurants and takeaway food) for the year ended August 2012
- Compared with the previous month, the NAB Online Retail Sales Index edged a little lower in September – down to 200 points (from 210 points in August). There may be a seasonal component to this trend – with month-on-month declines observed in both September 2010 and September 2011.
- Year-on-year growth in online retail sales strengthened in September – up by +23% yoy – a level that was stronger than August (+22%) but was marginally lower than September 2011 (+25%).
- The growth rate for online retail sales continues to outperform that of the traditional bricks & mortar sector. Traditional sales increased in August – up by +4.0% year-on-year (nonseasonally adjusted). It should be noted that in seasonally adjusted terms, there was a slowing in growth (down from +3.8% to +3.3%).
Domestic online retailers continue to innovate – in an effort to develop or maintain a competitive advantage. An increasing number of firms are offering express delivery, in some cases same day delivery – in order to attract customers.
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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.