Annual growth in online spending nudges back into double digits
A new report from Bank of New Zealand says total online retail spending in March increased by 11% compared to March 2014.
The report reveals online purchases at domestic merchants in March were up 7% on the spending levels a year earlier, which is slightly ahead of the growth in spending at physical stores (approx. 5%, based on electronic card transactions).
BNZ reports that spending at international sites was strong in the month of March, up 18% on the level seen in March last year.
Online spending at international merchants for the March quarter was up $40m on the same 3 months last year, BNZ reports.
Sixty percent of that increase was driven by 5 categories: Clothing; Computers and peripherals; Electrical and electronic goods; “Other” specialised food (incl. supplements); and Entertainment media.
Growth in total online spending in March, compared to the same month last year, saw electrical and electronic goods including computers and appliance grown by 17% Recreation, including games and entertainment media, grew by 9%.