Finance Finance News Online retailers continue to post double-digit growth

Online retailers continue to post double-digit growth

Twitter Facebook Reddit Pinterest Email

The latest monthly gauge of online purchasing shows sales continuing to rise at double-digit levels.

National Australia Bank’s monthly online retail sales index has turnover increasing 10.7 per cent for the year to November 2013, to $14.6 billion.

The bank says online spending is now equivalent to around 6.4 per cent of spending at bricks and mortar stores.

NAB says Bureau of Statistics data shows physical retailers had enjoyed sales growth of around 0.6 per cent in October (on a seasonally adjusted three-month moving average), less than half the month-on-month growth experienced by online sellers in November.

The report shows the best annual growth rates were in the media category that includes music sales (28 per cent), groceries and liquor (16 per cent), toys and electronic games (13 per cent) and department and variety stores (11 per cent).

NAB says personal and recreational goods was the only category to record a decline in sales (-6 per cent).