ONLINE RETAIL SALES INDEX

INSIGHTS, TRENDS AND CASE STUDIES

The NAB Cashless Retail Sales Index shows improvement in January following a weak December.

NAB’s Consumer Anxiety Index* was basically unchanged in Q4 2017 at near survey lows with job security causing Australians the least stress, consistent with a strongly improving labour market.

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.

The NAB Cashless Retail Sales Index shows a slowdown in December following a strong November.

NAB Online Retail Sales Index (NORSI) accelerated strongly in November(+4.7% mom s.a.).

The NAB Cashless Retail Sales Index shows strong growth in the month of November (1.6% mom).

Australia’s GDP continues to grow in spite of subdued wages growth and consumer spending. Gaining a greater understanding of how these contradictory trends break down across regional and metropolitan areas, as well as consumer spending categories, is behind NAB’s expansion of its Consumer Spending and Cashless Retail analyses.

NAB Online Retail Sales Index (NORSI) rebounded in October(+1.5% mom s.a.) from a contraction in September (-0.5%).

NAB’s proprietary indicator of Australian retail sales reveals a continuation of very slow growth in recent months.

Online sales contract in the month, also slower over the year.

NAB’s proprietary indicator of Australian retail sales, the NAB Cashless Retail Sales Index, reveals a rebound in spending in the month of September.

Online sales accelerated over the year and month.

Insights into the mindset of Australian consumers – their anxieties around future spending and savings plans, what drives these concerns and how they are impacting actual spending behaviours and financial hardship.

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