Australian online retails sales grew 27%

Australian online retails sales grew 27%According to a new report, the total online retail sales recorded a growth of 27 per cent during the one year period till January to $13 billion compared to the same period of the previous year.

The National Australia Bank's latest Online Retail Sales Index showed that the total online retail sales grew by an impressive 27 per cent while the overall retail sales recorded a growth of just 0.4 per cent over the same period.

The report showed that the online retailers were able to avoid the slowdown in the post-Christmas market and recorded much higher growth than the brick and mortar stores in the country. The figure of $13 billion in the 12 month period is equivalent to almost 6 per cent of sales in bricks and mortar.

NAB chief economist Alan Oster said, "Western Australia's share of spending continues to rise, as the state outpaces the rest of the nation in growth terms."  The data showed that the online retailers recorded strong growth in Western Australia. The data showed that WA residents spent on average, 17 per cent more than the national average.