Australia: Online retail sales accelerated 0.9% in March - NAB

Analysts at NAB note that in seasonally adjusted terms, at 0.9%, Australian online retail sales accelerated in March, but the 12 months to growth rate is however a bit slower.

Key Quotes

“In the 12 months to March, Australians spent an estimated $25.3 billion on online retail.”

“Sales growth accelerated (+0.9%) in month-on-month (mom) terms in March, seasonally adjusted (s.a.) after slowing in February (+0.6%mom, s.a.).”

“The largest spend share category, homewares and appliances, recorded no growth in the month, while media, the second largest, grew strongly (3%). Rapid growth from domestic online toy and game retailers, has tipped the spend share balance in favour (just) of domestic retailers for that category.”

“Online sales in all states and territories grew in the month. 12 months to growth remains strongest in the large eastern states with QLD and VIC leading.”

“Monthly sales growth at SME retailers grew faster than corporates, and their share of online retail has grown to almost 37% of online sales.”