Australians are expected to have spent close to $15 billion shopping online during 2013 and local retailers received most of the benefit.
Total online retail spending for the 12 months to November was $14.6 billion, according to National Australia Bank’s online retail sales index, which was up more than 10 per cent compared to a year earlier.
Chief economist, Alan Oster said the figures for the year to December, to be released in February, were likely to be between $14.5 and $15 billion.
Of that, he said, more than 70 per cent was spent within Australia, despite ongoing complaints from local retailers about competition from overseas.
Oster said online sales were likely to grow more quickly over the next few years as the local internet shopping industry matures.
“In the last few years, it has grown at around 20 per cent. That’s slowed a lot in the past 12 months, but I think its starting to go back up again,” he said.
He said online sales accounted for around 6.4 per cent of total retail spending in Australia, which was still well below that seen in other developed countries.
“If you look at the US and the UK, where online is a little bit more mature, they (online sales) are about nine to 10 per cent. So, I would have thought it’s not yet at full maturation here.”
The NAB figures show online retail spending grew by 1.5 per cent in November, seasonally adjusted, after being relatively flat in September and October.
Oster said part of the surge would be due to Christmas sales, with online shoppers making their purchases early to ensure delivery before the holiday period.
AAP
