Home > Industry > May Online Retail Sales Growth Slows

May Online Retail Sales Growth Slows

NAB’s Online Retail Sales Index reveals online retail spending dropped in May, notching 1.2% growth versus 1.6% in April.┬áDespite the decline, levels are much higher than a year ago.

For the twelve months to May, online retail sales jumped a whopping 17.2%. The figure is down from a comparative 18.4% rise in April.

According to NAB, Aussies spent around $26 billion online for the twelve months to May.

Despite the drop, Oz online retail sales have continued to outperform traditional retail stores, posting a 0.4% seasonally adjusted month-on-month increase in April as per the ABS.

NAB claims traditional retail sales for the twelve months to May represent ~8.3% of their online counterpart.

The growth in online sales has largely stemmed from SME merchants, representing 36% of online spending for the period, and a 3.6% (seasonally adjusted) month-on-month jump.

You may also like
Thorn Shareholders Query Proposed Buy Bid
Amazon Tipped To Etch Western Sydney Depot
ACCC Energy Deal To Benefit Bunnings, Costco, Officeworks
Huawei Chief Attacks Australian Attitude To Asian Business
August Unemployment 5.3% Despite Jobs Surge