ONLINE RETAIL SALES INDEX

INSIGHTS, TRENDS AND CASE STUDIES

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.

The NAB Cashless Retail Sales Index gained 0.8% in October on a month-on-month basis, rebounding from a much weaker 0.2% in September.

In seasonally adjusted terms, at 0.3%, online retail sales slowed in September. The 12 months to growth rate is also slower.

The NAB Cashless Retail Sales Index gained 1.1% in August on a month-on-month basis, following a gain of 0.7% (revised) in July.

Online sales growth on par with June, faster over the year

Consumer anxiety up steeply in Q2. Overall spending tightens as concerns about the economy and our household financial positions grow. Spending on utilities a key expense, and growing.

The NAB Cashless Retail Sales Index gained 0.9% in July on a month-on-month basis, following a gain of 0.5% in June.

In seasonally adjusted terms, at 1.2%, online retail sales slowed in June. The 12 months to growth rate is also a bit lower.

The NAB Cashless Retail Sales Index gained 0.5% in June on a month-on-month basis, following gain of 0.6% in May (revised from 0.8%).

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.

The NAB Cashless Retail Sales Index gained 0.8% in May on a month-on-month basis, following a flat read in April (revised from -0.6%).

NAB Online Retail Sales Index (NORSI) accelerated in April (+1.4% mom s.a.) from stronger growth in March(1.1%).

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