Online retail sales grow in January

online credit card, e-commerceTotal online retail spending grew 6 per cent year on year in January, according to the latest report from Bank of New Zealand.

The growth was driven primarily by spending with local online retailers. This sector grew 11 per cent in the month, compared to the same time last year, while spending on purchases from offshore sites was unchanged from last year. Online spending at offshore retailers was down 6 per cent year on year.

The category with the biggest annual growth was entertainment, toys, media, games and books, with 11 per cent growth, followed by groceries and liquor, with 10 per cent, and then variety and department stores, with 9 per cent.

Kiwis now spend approximately $4.6 billion online each year, according to the Bank of New Zealand. This is equivalent to 8 per cent of total retail sales reported in Statistic NZ’s Retail Trade Series, comparing for like-for-like categories.

Excluding food and liquor purchases from the total retail sales figure, online accounts for 11.4 per cent of retail sales.

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