Online Sales Slump, Technology To Blame?
Online sales slowed to 14% yoy in June – hitting $13.9 billion in the twelve months to June 2013.
June’s Internet sales were equivalent to 6.2% of the traditional bricks & mortar retail recorded in the 12 months to May, last,
It was the second slowest month ever for web sales recorded on the Nab Online Retail Index, released today for the month of June. The Index fell to 223 points from 226 points in May.
Worryingly, the result also marked the second straight month online sales slowed.
March 2013 was the slowest ever for online sales – up just 12%.
Fewer Fridays – typically a peak day for online sales – and a ‘lack of product launches’ were cited as possible reasons behind the” subdued” growth, according to Alan Oster, Nab Chief Economist .
June 2012 featured several major product launches in the Homewares and Appliances space – which tend to inflate sales, said Nab.
Traditional bricks & mortar retail grew by 2.8% year-on-year in May 2013 – marginally stronger than the level in April
However, after seasonal factors, the growth trend for traditional retail eased back to 2.4% yoy.