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Australia: Online sales growth faster over the month, slower for the year - NAB

Australia’s NAB Online Retail Sales Index (NORSI) accelerated in November (+0.9% mom s.a.) slightly relative to October (0.7%) while the 12 months to growth slowed in November, with sales up 10.7% compared to October (15.5%).

Key Quotes

“ABS data on traditional retailers showed month on month seasonally adjusted sales rose (0.3%) in October, outpaced by NORSI in that month.”

“Our revised estimate puts Australian online spend at around $28.86 billion over the 12 months to November 2018. This is equivalent to 9.0% of spending at traditional bricks & mortar retailers, as measured by the ABS in the 12 months to October 2018.”

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