NAB Online Retail Sales Index: Indepth report – June 2017
Online sales still growing, albeit slower over the month and year.
In total, we estimate the Australian online retail market was worth $22.74bn in the 12 months to June 2017.
Sales growth slowed in month-on-month (mom) terms to 0.7% in June, seasonally adjusted (s.a.) after rapid growth in May. Homewares and appliances, Electronic Games and Toys, and Media led monthly growth, while Fashion, Grocery and Liquor, and takeaway food contracted.
Online sales in the large eastern states continued to grow, along with the NT. Conversely sales in TAS, SA, ACT and WA contracted in the month. Annual growth remains strongest in VIC, NSW, and QLD.
While monthly growth at SME retailers contracted in June (-1.6), they have outpaced corporates over the year (+17.6%).
I hope you enjoy our latest insights into this rapidly evolving sector.
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About the NAB Online Retail Sales Index
Based on two million non-cash transactions per day, scaled up to replicate the broad economy, the NAB Online Retail Sales Index tracks online retail spending across sectors, demographics, locations and the breakdown of goods bought from domestic and international online retailers. The index is produced monthly and analysis is provided on a quarterly basis.
Quantium is Australia’s leading data analytics and marketing strategy firm. Quantium has worked with NAB for more than six years, assessing de-identified transaction data to derive insights, trends and shopping habits of different customer groups. The resulting analysis forms Market Blueprint and is used by NAB and other businesses to drive innovation and business performance through customer, distribution and marketing strategies.