Online Sales Rebound In May, Pushing $20 B In 12 Months
Online sales growth rebounded in May despite a contraction in homeware and appliances sales, according to the NAB Online Retail Sales Index, with Australians spending $19.9 billion on online retail in the 12 months to May.
The NAB figures show that online sales grew 2 per cent month-on-month in May, up from relatively low growth in April of 0.3 per cent.
Year-on-year growth of 13.2 per cent in May, meanwhile, compares to growth of 13.3 per cent in March and 11.2 per cent in April.
NAB notes that its estimate of $19.9 billion spent on online retail in the 12 months to May is equivalent to 6.7 per cent of spending at traditional bricks and mortar retailers as measured by the Australian Bureau of Statistics in the 12 months to April.
Looking at individual segments, sales growth improved in the games and toys segment (41.6 per cent year-on-year versus 16.2 per cent year-on-year in April), and department and variety stores (6.6 per cent year-on-year versus 3.3 per cent year-on-year).
The personal and recreational segment also grew (8.4 per cent year-on-year versus 7.5 per cent year-on-year), along with daily deals (3.2 per cent year-on-year versus -8.3 per cent year-on-year), while the largest spend category, homeware and appliances, contracted (-1.7 per cent year-on-year versus 0.4 per cent year-on-year).
It was a good month for small-to-medium enterprises (representing just over a third of all online sales), which outpaced corporates, posting growth of 22.7 per cent year-on-year, its highest recorded annual growth rate.