For the 2014 calendar year, online spending accounted for 6.3 per cent of total retail sales.
The bank says New Zealand’s online retail sales in January were typical of what has been the trend over the last 12 months. For both the three months ending January 2015 and for the year ending January 2015, online sales were up eight per cent on the prior corresponding period.
The seasonal drop in online spending between the months of December and January is typically between 18 per cent and 22 per cent, and this year’s move was in line with that range.
The value of online spending at domestic online merchants was grew two per cent on the previous January, while spending at international online merchants showed stronger growth at 14 per cent
International spend is primarily driven by electrical and electronics products, and clothing, footwear, and accessories.
Despite the strong increase in international purchases, domestic retailers are still taking the lion’s share of sales, with domestic online purchases making up 57 per cent of the total.