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  • Growth rate eases back to single digits October - but this is at least partly due to timing
  • Total online retail spending in October was up 9% compared to October last year. This is a slower growth rate than we had observed in preceding months. However, it seems likely that the softening in growth is at least partly due to the timing of purchases, as opposed to a slowdown in trend.
  • If we combine the categories for Computers and Electronic goods, their sales in October were up approx. 5% on last year’s level, whereas in September they were up around 40% on last year. It does appear that some spending this year was pulled forward from October into September. We note that NZ pre-orders for new iPhone models opened on 12th Sept in 2015 (sales started 25th) versus 19th Sept in 2014 (sales started 26th).
  • Some of the other highlights in online spending in October (versus October last year) were: Clothing (up 17%); Newspapers and Books (up 21%); Entertainment Media (up 26%); and Pharmaceutical and Cosmetic goods (up 35%). Growth in online spending on Groceries and at Department Stores was also strong. 
  • Growth in purchases from overseas slowed down in October, and domestic merchants gained market share. It’s too early to say whether this is a “blip”, or if factors such as the lower NZD are starting to affect volumes.

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