Australia: Online sales faster in the month but slower over the year - NAB

The analysis team at NAB points out that in seasonally adjusted terms, at 0.8%, growth in Australia’s online retail sales accelerated in March and is much quicker than the past few months.

Key Quotes

“The revised estimate for trend online retail sales growth was 0.2%. While this is lower than January and February (0.4%), it remains positive.”

“In the 12 months to March,  we estimate that Australians spent an estimated $22.23 billion on online retail – a level that is equivalent to around 7.3% of the traditional bricks and mortar retail sector (February 2017 - Australian Bureau of Statistics).”

“In year on year terms (March 2017 v March 2016), online sales grew by 9.0%, down from the 10.7% year-on-year growth in February.”

“Noteworthy is the monthly sales growth of SMEs far beyond their corporate peers in the most recent period.”