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Online spend slows

 

salebutton,sale,shopping,online,ecommerceNational Australia Bank’s (NAB) online retail sales index rose 0.7 per cent in August, following a gain of 0.8 per cent in July and 1.0 per cent in June.

In the year to August, online sales were up 8.3 per cent to an estimated $15.7 billion, compared to growth of 10.2 per cent in the 2013/14 financial year.

Spending growth came in most categories, with the strongest in electronic games and toys, as well as homewares and appliances.

Growth in online spending has been gradually slowing over the past few years.

NAB’s index rose 31.8 per cent in the year ending January 2011, and that growth slowed to 12.8 per cent in the 12 months to January 2014.

The Australian Bureau of Statistics will release official retail spending figures for August on Wednesday.

AAP

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