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AUD: Online sales rose 0.7 percent in November 2015 - NAB

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Jan 7, 2016.

  1. FXStreet_Team

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    FXStreet (Delhi) – Alan Oster, Chief Economist at NAB, notes that the latest seasonally adjusted NAB online retail sales index shows that Australian sales grew 0.7% in November, an improvement on the contraction in October (-0.6%).

    Key Quotes

    “At 0.3%, the trend estimate for online retail sales was the same as the previous month, and only slightly lower than September (0.4%), suggesting that looking through the month to month volatility, sales are still growing.

    ABS data showed growth of comparable traditional retailers (ex. cafes and restaurants) in October to be 0.7% (mom, s.a.) higher than September, and 4.5% higher than a year ago. At 11.4% over the year, growth in online retail is more than double that of traditional retail sales.

    In dollar terms, we estimate Australians spent $18.1 billion on online retail in the 12 months to November 2015. This level is equivalent to 7.3% of spending at traditional bricks & mortar retailers as measured by the ABS (excluding cafes, restaurants and takeaway food, to create a like-for-like comparison) in the 12 months to October 2015.

    By category, all sectors except Daily deals (-9.8% yoy) had sales higher than last November. In year on year terms, growth was highest for electronic games and toys (+36.1% yoy from 32.4% yoy in October).”
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