Online retail spending up 7 per cent
Kiwi consumers spent 7 per cent more online in August than they did in the same month last year, according to the latest monthly report from BNZ.
Spending at local online sites was up 15 per cent year on year, compared to a 3 per cent decline on offshore sites, reflecting New Zealand’s strengthening e-commerce sector.
Local online retailers in the food, department store and electronics categories saw the biggest spending increases, with department and electrical e-stores seeing solid double-digit year-on-year growth.
Annual online spending now runs at just over $4.7 billion, excluding GST, and is growing faster than total retail spending.
According to Stats NZ, the total value of electronic card spending, which includes two non-retail categories, great 1.3 per cent in August 2019.
According to a comparison provided by BNZ, the value of goods purchased online over the three months to August grew three times faster year on year than the total electronic card spending over the same period.
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