Fall in online purchases by 3% in Feb 14 against Feb 138 April 2014
Offshore online retailers continue to pick up more Kiwi dollars than their domestic counterparts, but businesses in both locations fell victim to decreasing purchases in February this year over the same time last year.
BNZ’s monthly online Retail Sales Index shows online purchases at domestic sites were six percent higher then last February, but down on the 15 percent boost for January 2014 over January 2013.
The month on month change is traditionally a five or six percent increase, the analysts say, but this time there was a three percent fall. However, we shouldn’t read too much into these results because the decrease might be a natural taper after strong growth between December and January, they say.
In contrast to domestic purchases, online buying at offshore merchants was up 21 percent on February 2013 while 42 percent of New Zealand online retail purchases in February were from international merchants. International merchants experienced double digital annual growth rates across most spending categories, while domestically supermarket and groceries grew strongly, along with specialty food, department stores, pharmaceuticals and cosmetics.
Growth in clothing, liquor, appliances and daily deal sites slowed compared with February last year.