Online retail spending continues to soar following strong sales over the Christmas holiday and January, with February’s total online retail spending up 14 per cent compared to the same period the previous year, the latest BNZ monthly report on New Zealand’s online retail sales revealed.
Gary Baker, BNZ director for institutional research, stated February’s increase in total online retail spending was boosted by the extra day in the leap year. Removing the leap year effect, the growth rate drops to approximately 10 per cent.
“This is slightly slower than the growth trend we’ve seen in recent months, but still a solid performance,” Baker said.
The report shows online spending at local merchants was up 10 per cent in February compared to the prior corresponding period, mirroring the performance of physical stores (based on Statistics NZ figures for electronic card transactions).
Online sales for Supermarket/Groceries/Other Specialised Foods saw an increase by more than 30 per cent in February compared to the same period last year. Online clothing sales by local merchants also went up 13 per cent in February.
The monthly report also showed online spending at offshore sites by New Zealanders was up 18 per cent last month (14 per cent if the leap year adjustment is applied).
Online sales in the computer and entertainment media categories again stood out, according to the report, continuing the strong performance they showed in December and January. February’s online sales inceased by approximately 40 and 55 per cent respectively. Spending on clothing from offshore sites
Purchases of computer and entertainment media goods from offshore merchants were up significantly on last February’s levels, growing by approximately 40 per cent and 55 per cent, respectively. Spending on clothing from offshore sites was up 12 per cent compared to the same period last year.
Baker said for the 12 months ending February, Kiwis spent $3.3 billion online (excluding GST), across the categories covered.