Online retail spending has experienced strong growth in recent months, according to the retail Sales Index report from the National Australia Bank.

The rise of online retail

The figures show that domestic retailers are leading the race in online sales and currently account for 72 per cent of the market, with brick and mortar businesses increasing their online offering.

Between June 2011 and July 2012 Australian retail sales totalled 220 billion, with online sales taking 5.3 per cent of the pie accounting for 11.7b of expenditure and 25 per cent year-on-year growth in July.

Compared with only 4.9 per cent of growth in traditional retail spending, it’s clear there is a trend toward dominance in the online retail sector.

Key demographics

Per capita, those in their 30s and 40s are more likely to buy online domestically and are the biggest online spenders in total.

Nearly one-third of those under 30 are more likely to spend internationally when buying online.

What does this mean for Aussie businesses?

With online retail sales increasing, it is important that Australian businesses consider an online presence to meet consumer expectations.

Domestic and international online sales saw growth rates in July of 24 and 29 per cent respectively when compared to the same time in 2011.

Embracing online retail allows businesses to increase their sales output through a multi-channelled approach enabling greater volume and making it easier to sell products.

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