Strong month of online retail spend

tv, television, electronicsTotal online retail spending in September was up 15 per cent compared to September last year. This is according to the BNZ-Marketview monthly survey.

According to Statistics New Zealand, total retail sales increased about  6.1 per cent in the year to September. This indicates an ever growing chasm between traditional and online retail, with online the clear winner.

Online purchases of electrical and electronic goods (including computers) were particularly strong – up nearly 40 per cent compared to September last year.

In July and August the annual growth rate had been running at around 25 to 30 per cent. September saw new smartphone releases as did September in the year prior.

Online spending at international sites showed continued buoyancy – up 26 per cent on September 2014. This partly reflects currency effects. Compared to a year ago the kiwi  dollar was flat relative to the Australian dollar, but down 22 per cent against the US dollar (a key transaction currency) and down 18 per cent against the British pound.

The weaker kiwi makes imported goods more expensive, but the data suggests volumes are rising nonetheless.

Growth in online spending at local merchants mirrored that for physical goods, up seven per cent on September last year.

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