Online retail spending rises in July

Shopping cart, e-commerce, onlineTotal online retail spending was up 13 per cent in July compared to the same period the previous year, with food, computers, stationery and sporting goods purchases key contributors, according to the latest BNZ monthly report on New Zealand’s online retail sales.

Gary Baker, director of Institutional Research at the Bank of New Zealand, said the figure is just over double the growth rate for sales at physical stores, which also had a solid month.

Online spending by New Zealanders at local merchants under food, computers, department/variety stores, stationery and sporting goods categories were up by more than 20 per cent compared to July last year.

Online purchases by Kiwi’s from offshore sites have increased by 12 per cent in July compared to the previous corresponding period.

Figures also indicate that spending growth at offshore sites was particularly strong for computer products, entertainment media, department/variety stores and Cosmetics.

Marketview has confirmed that the higher online spending at UK sites immediately following Brexit was a trend that continued into July.

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