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    Australia: Online sales increase 2.0% in May 2016 - NAB Sandeep Kanihama

    Research Team at NAB, notes that at 2.0% the Australia’s latest seasonally adjusted NAB Online Retail Sales Index shows sales growth rebounded in May, from relatively low growth in April (0.3%).Key Quotes“The annual rate (13.2%) is more in line with March (13.3%) than April (11.2%). However, the revised trend estimate for online retail sales is still slowing, albeit at a higher level than previously published. Monthly trend estimates have remained on or below 1% for the past year.ABS data showed growth of traditional retailers grew in April (0.2% mom, s.a.), and 4.9% higher than a year ago. In April, while growth of online retail outpaced traditional retail sales growth in annual terms, the results were much closer in month on month terms.In dollar terms, we estimate Australians spent $19.9 billion on online retail in the 12 months to May 2016. This level is equivalent to 6.7% of spending at traditional bricks & mortar retailers as measured by the ABS in the 12 months to April 2016.While representing just over a third of all online sales, SME (22.7% yoy) outpaced corporates this month, its highest recorded annual growth rate.”

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