Online retail growth slowing in Australia
Australian online retail spending growth is steadily slowing, and has been over several years. The online retail sales index at the National Australia Bank (NAB) grew slightly by 0.7 per cent this August, 0.8 per cent in July and 1.0 per cent in June. Online sales were up 8.3 per cent in the year to August – by around $15.7 billion, compared to the 10.2 per cent of the year previous.
The strongest sectors for growth was homeware and electronic games, though online spending growth has overall been slowing down. The index grew 31.8 per cent in 2010-11, and that slowed to 12.8 per cent by 2013-14.