NAB has released the most recent figures from its Online Retail Sales Index (NORSI), indicating that online sales growth slowed marginally in June to 1.2 per cent.
NAB estimates that in the 12 months to June, Australians have spent $26.5 billion online. This figure represents approximately 8.4 per cent of spending at traditional bricks-and-mortar stores, with the ABS reporting that in the year to May 2018, Aussies have spent $315.1 billion at traditional retailers.
The toys category has remained flat in month-on-month (mom) growth in June, reporting no growth for the period. In the 12 months to June, the toy category reported 24.8 per cent annual growth, slightly down from 29.6 per cent in May.
Toys made up 3.8 per cent of total online spending, while the contribution to annual total spending growth was 5.2 per cent.
Small to medium online enterprises (SMEs) made up 36 per cent of all online retail sales in the past 12 months, despite slowing in mom growth in June.
SMEs online mom sales growth of 0.6 per cent was slower than the corporates which grew 1.2 per cent in June. SMEs growth also declined compared to their gains in May, where NORSI reported 4.0 per cent growth for May.
However, SMEs are still outpacing corporate online growth in 12 months to terms at 23.2 per cent.
Department stores saw a resurgence in June, with online mom growth equalling 9.0 per cent. In annual growth, department stores reported 38.4 per cent, compared to 23.5 per cent in May.
Australian online retailers can celebrate because in June, 81 per cent of online spending was done domestically. Domestic online merchants outpaced international online retailers in three months to growth too, with NORSI reporting 1.4 per cent growth in June, compared to a decline of 0.2 per cent for the internationals.
To read the full report, click here.