Online sales grow 11 per cent in 2015
A total of $19.1 billion was spent online in the 12 months to December 2015 according to NAB, the equivalent of 6.6 per cent of the total retail market.
NAB Online Retail Sales Index estimates that online sales are now 11.2 per cent higher than a year ago.
In comparison, overall retail sales, as measured by the Australian Bureau of Statistics, rose 4 per cent year on year in December 2015.
On a monthly basis, online sales rose 1.8 per cent in December 2015, following a 1.2 per cent rise recorded in November.
In year on year terms, the strongest growth categories were food (42.4 per cent), toys (30.8 per cent), and media (21.9 per cent). The weakest were daily deals (-7 per cent), department stores (2.5 per cent), and homewares and appliances (5.2 per cent).
“E-commerce is a vital pillar of all retail business these days, and its double digit year on year growth is unsurprising when you look at how many retailers are now giving their customers the opportunity to shop online at their own convenience,” said Australian Retail Association executive director, Russell Zimmerman.
Zimmerman said he was “hopeful” total retail sales will continue to grow steadily throughout 2016.
“I think we’ll see 2016 become a year of business evolution for retail, with a host of digitally-based advancements enabling the merging of the online and offline shopping worlds into a more seamless experience,” he said.