Advertisement

Latest E-Commerce Figures Record $26.08 Billion in Revenue

Reading Time: 2 mins
By Published On: July 4, 20180 Comments

The latest retail figures from the ABS and NAB are out, with online spending for the 12-months ending in May reportedly reaching $26.08 billion.

According to May’s ABS Retail Trade figures, retail turnover in Australia rose by 0.4 percent for the month, compared to 0.5 percent in April.

“Department stores (3.9 per cent) led the rises,” said Ben James, director of Quarterly Economy Wide Surveys. “There was also a strong result in clothing, footwear and personal accessories, which rose 2.2 percent. Both industries were able to rebound after unusually warm weather impacted April sales.”

While most of the country experienced positive sales momentum, Western Australia actually declined for the month, recording a -0.5 percent result and the ACT remained stagnant at 0.0 percent. Tasmania tracked the strongest performance at 1.5 percent, followed closely by South Australia at 1.1 percent. Across the rest of the board, Queensland recorded a growth of 0.4 percent, NSW 0.5 percent, the Northern Territory 0.4 percent, and Victoria 0.2 percent.

“Retail has now recorded two consecutive months of solid rises in turnover and we’re optimistic that it means that the sector has turned the corner following a modest start to 2018,” Dominique Lamb, CEO of the National Retail Association (NRA) said.

The ABS has provided a brief overview of the industry’s performance as a whole over the course of May, but the latest NAB Online Retail Sales Index: May 2018, has provided extra insight into the e-commerce sector’s results.

According to the index, May proved to be slower than April, with month-on-month growth finishing at 1.2 percent, compared to April’s 1.6 percent. Annual growth also slowed over May (up 17.2 percent) when compared with April’s month-to-month growth of 18.4 percent.

NAB also believes that e-commerce revenue reached $26.08 billion for the 12-months ending in May 2018, accounting for 8.3 percent of total retail trade for the last year. This correlates with the ABS’ data, whereby online turnover made up 5.6 percent of total retail turnover for the month of May.

The department store category performed the best in May, recording an overall growth of 3.9 percent, based on the latest ABS figures. However, in terms of online sales for the 12-months ending in May, department store trade accounted for the second fastest growth (23.5 percent). Interestingly enough, games and toy stores accelerated into first place in May, recording a growth of 29.5 percent over the last 12-months. The closure of Toys R Us’ online store could impact this figure in the months to come.

“The April figures were a relief after sales stalled in the opening months of 2018, but the May results are hopefully a sign that retail is about to kick on and have a successful second half to 2018,” Lamb said.

Never miss our best stories. Sign up for Power Retail’s free weekly newsletter and find our daily stories on FacebookTwitter, LinkedIn, and Instagram.

About the Author: Power Retail

Share this story!

Leave A Comment

Advertisement
Advertisement
Advertisement
Advertisement