Australia: Online sales slightly faster - NAB

Australia’s NAB Online Retail Sales Index (NORSI) accelerated in April (+1.4% mom s.a.) from stronger growth in March (1.1%), notes the research team at NAB.

Key Quotes

“12 months to growth was also stronger in April, with sales up 17.9% compared to last year. While slowing, trend online retail sales is still much stronger compared to the same period a year ago.”

“ABS data on traditional retailers showed month on month seasonally adjusted sales were flat (0.0%) in March, substantially outpaced by NORSI in that month.”

“We estimate that Australian consumers have spent around $25.8 billion over the 12 months to April 2018. This is equivalent to 8.2% of spending at traditional bricks & mortar retailers, as measured by the ABS in the 12 months to March 2018.”

“All but two categories accelerated in sales growth in April 2018. Fastest 12-months-to growth was recorded by Department stores, whose sales accelerated (25.5% April vs 22.0% 12 months to March). 2nd placed Toys and Games, which recorded the fastest 12-months-to growth in March, slowed in April (25.1% vs 34.7%), along with Food Catering (9.3% vs 15.2%).”