Australia: Online spending increased 14.2% y/y - NAB

According to National Australia Bank’s (NAB) latest Online Retail Sales Index in-depth report, online spending increased 14.2% over the last year.

NAB Chief Economist Alan Oster noted, “There has been a continuation of the shift back to growth in the large eastern states, and the significant slowing in online sales growth in WA. Victoria is leading eastern state growth in September. Over 76% of total online spending in the past year was made by residents from the three largest states (NSW, VIC and QLD).”

The report showed that NSW continues to have the largest share of online spend at 34.8%, followed by Victoria at 23.5% and Queensland at 18.2%.