7 Jan 2016
AUD: Online sales rose 0.7 percent in November 2015 - NAB
FXStreet (Delhi) – Alan Oster, Chief Economist at NAB, notes that the latest seasonally adjusted NAB online retail sales index shows that Australian sales grew 0.7% in November, an improvement on the contraction in October (-0.6%).
Key Quotes
“At 0.3%, the trend estimate for online retail sales was the same as the previous month, and only slightly lower than September (0.4%), suggesting that looking through the month to month volatility, sales are still growing.
ABS data showed growth of comparable traditional retailers (ex. cafes and restaurants) in October to be 0.7% (mom, s.a.) higher than September, and 4.5% higher than a year ago. At 11.4% over the year, growth in online retail is more than double that of traditional retail sales.
In dollar terms, we estimate Australians spent $18.1 billion on online retail in the 12 months to November 2015. This level is equivalent to 7.3% of spending at traditional bricks & mortar retailers as measured by the ABS (excluding cafes, restaurants and takeaway food, to create a like-for-like comparison) in the 12 months to October 2015.
By category, all sectors except Daily deals (-9.8% yoy) had sales higher than last November. In year on year terms, growth was highest for electronic games and toys (+36.1% yoy from 32.4% yoy in October).”
Key Quotes
“At 0.3%, the trend estimate for online retail sales was the same as the previous month, and only slightly lower than September (0.4%), suggesting that looking through the month to month volatility, sales are still growing.
ABS data showed growth of comparable traditional retailers (ex. cafes and restaurants) in October to be 0.7% (mom, s.a.) higher than September, and 4.5% higher than a year ago. At 11.4% over the year, growth in online retail is more than double that of traditional retail sales.
In dollar terms, we estimate Australians spent $18.1 billion on online retail in the 12 months to November 2015. This level is equivalent to 7.3% of spending at traditional bricks & mortar retailers as measured by the ABS (excluding cafes, restaurants and takeaway food, to create a like-for-like comparison) in the 12 months to October 2015.
By category, all sectors except Daily deals (-9.8% yoy) had sales higher than last November. In year on year terms, growth was highest for electronic games and toys (+36.1% yoy from 32.4% yoy in October).”