• NAB Online Retail Sales Index (NORSI) in November (+0.9% mom s.a.) accelerated slightly relative to October (0.7%). 12 months to growth slowed in November, with sales up 10.7% compared to October (15.5%). Trend online retail sales also slowed (0.5%).
• ABS data on traditional retailers showed month on month seasonally adjusted sales rose (0.3%) in October, outpaced by NORSI in that month.
• Our revised estimate puts Australian online spend at around $28.86 billion over the 12 months to November 2018. This is equivalent to 9.0% of spending at traditional bricks & mortar retailers, as measured by the ABS in the 12 months to October 2018.
• Mixed growth patterns in November with slowing 12 months to growth for five of nine categories. Fastest 12-months-to growth was recorded by department stores whose sales accelerated (22.7% November vs 10.6% 12 months to October). Grocery and liquor was again the second fastest category, albeit slowing slightly(17.4% vs 19.1%). Personal and recreational (15.3% vs 12.4%) accelerated, while media (11.6% vs 14.6%),  fashion (11.2% vs 15.5%), and games and toys (9.8% vs 55.5%). Food catering (9.7% vs 6.7%) and the and the smallest spend share category, daily deals (6.1% vs 5.7%) both accelerated while the largest sales category, homewares and appliances (-0.6% vs 14.3%) contracted slightly.
• SME merchants represent over 35% of all online sales. Seasonally adjusted SME sales accelerated more rapidly in November (3.0%, mom s.a.), relative to large online retailers.

For further details, please see the attached document:
NAB Online Retail Sales Index – November 2018