Total online retail spending rose 11 per cent increase in March compared to the same period in the previous year, with spending on clothing up 16 per cent from a year ago, according to the latest BNZ monthly report on New Zealand’s online retail sales.
Online spending by New Zealanders at local merchants was up nine per cent in March, compared to the prior corresponding period, slightly ahead of the six per cent annual growth rate for sales at physical stores, according to Statistics NZ figures for electronic card transactions for core retail excluding hospitality.
“There is usually a seasonal up-tick in online sales in March,” said Gary Baker, director of Institutional Research at the Bank of New Zealand.
“New Zealanders are also paying higher NZD prices for some overseas goods than a year ago, due to the weaker NZ dollar,” Baker said.
Online spending at offshore sites was up 14 per cent on March 2015. Part of this growth reflects higher offshore prices in NZ dollar terms, with the NZD having depreciated 10 per cent against the USD and 12 per cent against the Euro since March last year.
Purchases of computer and entertainment media goods continued their strong run, with both categories up by more than 30 per cent on March last year. Spending on Clothing was up 16 per cent from a year ago, with both local and offshore sites showing double-digit growth. Online food purchases from local merchants grew strongly; as did purchases from department and variety stores (locally and offshore).
“Overall, the figures reflect the continuing trend of growth in online spending, which is driven by factors such as convenience, price and available range,” Baker said.
