The NAB Online Retail Sales Index contracted slightly in May, after recording the most rapid growth in the series history in April.
Insight
Author
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.
The NAB Online Retail Sales Index contracted slightly in May, after recording the most rapid growth in the series history in April.
Insight
NAB Online Retail Sales Index rapid growth accelerated again in April
Insight
Our NAB Online Retail Sales Index data indicates that the rebound in online spend continued in March, with a large jump in sales.
Our NAB Online Retail Sales Index data indicates that there was a rebound in online spend in February.
Our data indicates that there was a contraction in online retail sales spend in January relative to December.
Our NAB Online Retail Sales Index data indicates that, while slowing slightly, growth continued in December.
NAB Online Retail Sales Index data indicates that volatility continues in sales, with a jump in November sales after contracting in October.
After a weak mid-year period, online retail sales continued to grow in September, albeit at a more moderate pace than the significant growth rate recorded in August.
Online retail rebounds after two weak months with the largest spend category Homewares and Appliances being a key contributor, although sales growth for this category has been relatively weak over the past year.
Our NAB Online retail sales index data indicates that sales growth was negative in July 2019, following on from an almost flat result in June.
Our NAB Online retail sales index data indicates that sales growth was negative in June 2019, following on from strong growth in May.
The NAB Online Retail Sales Index contracted -3.8% in April on a month-on-month, seasonally adjusted basis.
The NAB Online Retail Sales Index rebounded strongly in March with sales growth of 1.7% month-on-month, after one of its worst growth rates in the series history in February.
It appears that broader weakness in retail is flowing through to online.
Low wage growth, high personal debt levels and a weakening housing market – particularly in Sydney and Melbourne – have made consumers reluctant to spend on non-essentials.
Online sales growth faster over the month, slower for the year.
Online sales growth faster over the month, slower for the year
In seasonally adjusted terms, at 0.3%, online retail sales slowed in September. The 12 months to growth rate is also slower.
Online sales growth slower over the month and year
Online sales growth on par with June, faster over the year
In seasonally adjusted terms, at 1.2%, online retail sales slowed in June. The 12 months to growth rate is also a bit lower.
NAB Online Retail Sales Index (NORSI) slowed slightly in May (+1.2% mom s.a.) from stronger growth in April (1.6%). 12 months to growth was also slower in May, with sales up 17.2% compared to April’s 12 month to growth of 18.4%. While slowing, trend online retail sales is still much stronger compared to the same period a year ago.
NAB Online Retail Sales Index (NORSI) accelerated in April (+1.4% mom s.a.) from stronger growth in March(1.1%).
In seasonally adjusted terms, at 0.9%, online retail sales accelerated in March. The 12 months to growth rate is however a bit slower.
NAB Online Retail Sales Index (NORSI) slowed in February (+0.8% mom s.a.) from stronger growth in January (1.6%).
NAB Online Retail Sales Index (NORSI) rebounded strongly in January (+1.5% mom s.a.) from a revised contraction (-1.8%) in December.
In seasonally adjusted terms, at -2.2%, online retail sales contracted in December, the largest since November 2014. Looking through the month to month volatility, while the trend is still positive, it has again slowed.
NAB Online Retail Sales Index (NORSI) accelerated strongly in November(+4.7% mom s.a.).
NAB Online Retail Sales Index (NORSI) rebounded in October(+1.5% mom s.a.) from a contraction in September (-0.5%).
Online sales contract in the month, also slower over the year.
Online sales accelerated over the year and month.
Online sales growing over the year, slight slowing in the month.
Online sales still growing, albeit slower over the month and year.
Online sales growing over the year, rebound in the month
Online sales slower over the year, contract in the month
Online sales faster in the month but slower over the year.
Online sales slower over the year and month.
Online sales slightly faster over the year, contracts in the month
In total, we estimate the Australian online retail market was worth $21.65bn in the 12 months to December 2016.
We estimate that Australian consumers have spent around $21.4 billion over the last 12 months to November 2016
Fundamentally the trend slowing in online retail growth continued in October
In the 12 months to September, Australians spent an estimated $20.8 billion on online retail – a level that is equivalent to around 7% of the traditional bricks and mortar retail sector.
We estimate that Australian consumers have spent around $20.6 billion over the last 12 months to August 2016.
Online sales down by 0.36% in July 2016
National Australia Bank’s latest Online Retail Sales Index (NORSI) shows online spending grew by 13.5% in the 12 months to June 2016. While still strong, growth has flattened from the year-on-year growth seen back in 2011 when the index was first established.
Online sales increase 2.0% in May 2016
Online sales increase 0.3% in April 2016
Online sales increase 0.8 % in February 2016.
In dollar terms, we estimate Australians spent $19.2 billion on online retail in the 12 months to January 2016.
In this December 2015 quarter edition of the NAB Online Retail Sales Index, we have responded to market changes by including separate data on takeaway food and smaller online retailers.
Online sales rose 1.8 per cent in December 2015.
The latest seasonally adjusted NAB online retail sales index shows sales grew 0.7% in November, an improvement on the contraction in October.
At -0.6% the latest seasonally adjusted NAB online retail sales index shows sales contracted in October, a deterioration on the revised 1.4% recorded in September.
The latest NAB Online Retail Sales Index shows sales experienced relatively strong month-on-month growth of 1.1% in September, seasonally adjusted. This is a considerable improvement on the sales weakness evidence in July (-1.4%).
At -0.1% the latest seasonally adjusted nab online retail sales index shows sales growth was virtually flat in May, a significant slowdown on the 1.6% growth recorded in April. At 0.5%, the trend estimate for online retail sales was unchanged on the previous month.
Online sales fell 0.1 per cent in May 2015 and all categories except Daily Deals (-26.2% yoy) and Personal and Recreational good (-0.6 yoy) recorded growth in May.
Australia’s online retail spending increased to $16.9 billion for the year to April 2015, or by 9.6% annually. It now represents around 7.0% of traditional retail spending, excluding cafe's, restaurants and takeaway food.
The latest NAB online retail sales index shows sales experienced growth of 0.8% in March, seasonally adjusted. At 0.3%, the trend estimate for Online retail sales slowed relative to February, but remained positive. We estimate that online sales are now 8.0% higher compared to a year ago.
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.
Australia’s online retail spending increased to $16.6 billion for the year to January 2015, or by 9% annually. It now represents around 6.9% of traditional retail spending.
Online retail experienced a modest growth in December, with sales growing 0.1% compared to November (-0.3%), and 8.9% higher compared to a year ago. In dollar terms, we estimate Australians spent $16.4 billion on online retail in the 12 months to December 2014.
Online sales growth slows markedly in November with most categories following suit. Despite the general slowdown, at category level, Electronic Games and Toys maintained recent momentum. In dollar terms, Australians spent approxinately $16.3 billion on online retail.
Australia’s online retail spending increased to $16.19 billion for the year to October 2014, or by 11.9% annually. It now represents around 6.8% of traditional retail spending. The share of domestic spending continues to edge higher, now controlling 75.2% of total online spending.
Online retail showed further encouraging signs of growth in September, to be 1.1% higher compared to August, and 12.8% higher compared to a year ago, the highest rate since March (13.7% YoY).
Online retail showed further encouraging signs of growth in August, to be 0.7% higher compared to July, and 8.3% higher compared to a year ago, although slower than July (9% YoY).
Australia’s online retail spending continues to increase following a period of more subdued growth and is now valued at around $15.6 billion for the year to July 2014. This represents annual growth of 8.6%, placing online at around 6.6% of traditional retail spending.
Australia’s online retail spending has continued to grow, sitting at $15.25 billion, while over 65s have experienced the strongest growth post-Christmas – meaning retailers need a clear strategy to reach this growing online consumer base.
In the year to March 2014, Australians spent $15.2 billion on online retail. This level is equivalent to 6.6% of spending with traditional bricks & mortar retailers (excluding cafés, restaurants and takeaway food to create a like-for-like comparison) in the year to February.
Recent improved momentum in online sales stall in February – with trends weaker for most categories – strength remains in Groceries & Liquor, but Personal & Recreational Goods and Daily Deals contract. Online spending up to $15 billion in the past year.
Australia’s online retail spending increased to $14.9 billion for the year to January 2014, or by 11.3%, now representing around 6.5% of traditional retail spending. Domestic retailers continue to control the largest share of online sales – at around 74%.
Recent improved momentum in online sales maintained in December – with trends positive for most categories - strength in Electronic Games and Toys, Groceries and Liquor, and Media. Online spending up to $14.7 billion in the past year.
Australian online retail sales rose to $14.4 billion for the year to October 2013, a level that is equivalent to 6.4% of traditional retail spending. Domestic retailers continue to control the largest share of online sales - at around 73%.
Australian online retail sales rose to $14.1 billion in the year to July 2013, a level that is equivalent to 6.3% of traditional retail spending. Department & Variety Stores, Groceries & Liquor and Media drove the growth over this period.
For the year to April 2013, Australians spent $13.5 billion online - a level that is equivalent to around 6.0% of traditional retail spending. Online retail sales have continued to grow at a vastly stronger rate than the traditional bricks & mortar retail sector.
Online retail sales continue to shape the Australian marketplace. Sales rose to an estimated A$13 billion in the year to January 2013 and is now equivalent to 5.8% of traditional bricks and mortar sales (excluding food).
Australia’s online retail sales are continuing to climb, up to A$12.3 billion in the year ended October 2012, but for now the share of total spending is still modest, at around 5.6%. The rate of growth in online sales has strengthened considerably over the last six months.
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. With traditional sales totalling […]
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. In a fast-changing environment, […]
© National Australia Bank Limited. ABN 12 004 044 937 AFSL and Australian Credit Licence 230686.