Online Sales Pick Up Pace In September
Online sales for homewares and appliances were up 35.8 per cent year-on-year, with electronic games and toys up 35.1 per cent, while department stores also saw improved growth, up 11.3 per cent.
The September figures were also up 1.1 per cent on August.
NAB noted Australian Bureau of Statistics (ABS) data showed growth at comparable traditional retailers in August to be 0.4 per cent higher than July and 2.9 per cent higher than a year ago.
While growth in online sales continues to outpace traditional retail, NAB additionally noted its growth rate has been slowing gradually.
NAB estimates Australians spent $15.9 billion on online retail in the 12 months to September 2014, equivalent to 6.7 per cent of spending at traditional brick and mortar retailers, as measured by the ABS (excluding cafes, restaurants and takeaway food, creating a like-for-like comparison) in the 12 months to August 2014.