Australian fashion retailers rejoice - there are some positive movements for you in the online space.
Australians spent $15.6 billion online in the year to July 2014, up 8.6 per cent on the previous year.
The figures are encased in the latest National Australia Bank’s (NAB) latest Online Retail Sales Index.
Online sales are now equivalent to around 6.6 per cent of traditional retail spending, up from 6.3 per cent for the same time last year.
The added silver lining?
Department and variety stores continue to dominate the online retail sector, representing 34 per cent of total spending.
Fashion also attracts a substantial share, representing 11 per cent.
Domestic retailers command a majority of the market share, attracting 74.6 per cent of total online spending in July 2014.
The report revealed a correlation between currency movements and the international/domestic split.
When the Australian dollar appreciates, the share of international spending rises accordingly.
For the full report, click here.
