Online retail sales rebound in the month
The latest e-commerce sales data shows an uptick in consumer spending online in October, with both month-on-month and year-on-year growth strong.
This is the finding of the NAB ORSI (Online Retail Sales Index), which publishes monthly updates on the e-commerce sector in Australia.
According to NAB’s figures from October, online retail sales rose 1.5 per cent from September 2017 and 8.3 per cent compared to October 2016.
This was a promising rebound after contracting sales in September, however, traditional retail sales grew even faster, according to data from the ABS.
E-commerce spending is now estimated to make up around 7.6 per cent of spending at traditional bricks and mortar retailers, as measured by the ABS in the 12 months to September 2017. That equates to $23.65 billion.
Most categories accelerated in October, with media and daily deals both recording double digit growth.
Grocery and liquor, personal and recreational and homeware and appliances also accelerated in October.
While still growing, food catering slowed along with department stores, and more dramatically games and toys, in the month.
Fashion was the only category to contract year-on-year in October.
Meanwhile, small and medium sized retailers saw the fastest-growth, showing 4.1 per cent month-on-month growth in seasonally adjusted terms.
Small and medium businesses represent just over a third of all online sales in Australia.