Online retail sales exceeds physical stores
The May online retail sales was well above the 3.6 per cent growth in sales at physical stores, based on Statistics New Zealand figures for electronic card transactions for core retail excluding hospitality.
Gary Baker, director for Institutional Research, BNZ, said in comparing May 2016 to May last year, food, clothing and department stores contributed more than half of the increase in online sales at local merchants.
“Online purchases by Kiwis from offshore sites also turned in double digit-growth, up 13 per cent on last May, albeit not quite as strong as in recent months,” Baker said.
Computer products, electrical goods, clothing and entertainment media were responsible for three-quarters of the increase in online sales at offshore sites, the report stated.
Total online sales were up 14 per cent on last May, continuing the prevailing trend.