No 'WOW' in an online retail slowdown

The latest NAB retail sales index shows a sharp slowdown in online growth, but this was due to weakness in household and electrical goods, so traditional retailers can't be consoled by the numbers.

National Australia Bank’s latest online retail sales index appears to show a sharp slowdown in the rate of growth in online sales. That won’t however, provide much consolation for traditional retailers.

For the year to end-April, NAB’s index showed year-on-year growth of 15.5 per cent, falling back from the growth rate of about 19 per cent in the year to end-March and holding around 5.1 per cent of total retail sales.

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