Groceries and liquor are the fastest growing online retail sector with sales rising 27 per cent in the year to January, according to a National Australia Bank (NAB) survey.
Groceries and liquor is emerging as a forerunner in growth contribution to online retail in year-on-year terms, according to NAB, followed by electronic games and toys at 22 per cent and media at 18 per cent.
Consumers in this category also tend to be older, according to NAB. People aged under 25 spend comparatively less on groceries and liquor, while those aged over 65 spend comparatively more, compared to other categories.
Online sales growth across all categories continues to outpace traditional retail, and Australian consumers spent $14.9 billion online – an increase of $1.9 billion, or 11.3 per cent – online in the year to January, according to NAB.
Online sales now account for to around 6.5 per cent of the traditional retail spend, up from 5.8 per cent last year, and domestic retailers continue to control the largest share of online sales – at around 74 per cent.
By category, however, the sales growth results were mixed, according to Alan Oster, group chief economist at NAB.
“Growth has continued for electronic games & toys, groceries & liquor, fashion, and homewares & appliances categories, but trends have been weaker in daily deals, recreational & personal goods and media,” said Oster.
