Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


NZ Online Retail Sales 27/7/14

NZ Online Retail Sales: Monthly update and a look at how exchange rate moves are affecting the numbers

In addition to the latest figures, the feature analysis this month takes a look exchange rate effects, which are masking some of the underlying strength in purchases from overseas online sites.

HIGHLIGHTS

Slowing growth in online retail sales – again

• Total online spending in June 2014 was up 5% on June last year.

• Spending at domestic online sites is up by 2% on the online spending in June last year. Excluding the “daily sales” sector, domestic online sales are up 6% on June last year.

• Online purchases from offshore merchants are 9% higher than June 2013.

• It appears that appreciation in the NZD is masking some of the underlying strength in purchases from overseas online sites. The growth in transaction volumes for offshore purchases has clearly outpaced the growth in spending, particularly over the past year. Offshore transaction volumes (excluding entertainment media) for the 3 months ended June 2014 are up 24% on the same period a year ago.

BNZ Online Retail Sales Index - BNZ


© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Wood Producers: Crisis In New Zealand Log Supply

New Zealand wood processing leaders held a hui with senior government officials and political leaders in Whangarei yesterday to assess the acute log supply shortage to local mills in Northland. More>>

Consents And Taxes: Trustpower 'Very Disappointed' With Judgement

Trustpower is "very disappointed" with a Supreme Court ruling dismissing its bid to claim tax deductions on $17.7 million of project costs in a case closely watched by large-scale infrastructure developers. More>>

ALSO:

Fruitful Endeavours: Kiwifruit Exports Reach Record Levels

In June 2016, kiwifruit exports rose $105 million (47 percent) from June 2015 to reach $331 million, Statistics New Zealand said today. Overall, goods exports rose $109 million (2.6 percent) in June 2016 (to $4.3 billion). More>>

ALSO:

Economic Update: RBNZ Says Rate Cut Seems Likely

The Reserve Bank will likely cut interest rates further as a persistently strong kiwi dollar makes it difficult for the bank to meet its inflation target, it said. The local currency fell. More>>

ALSO:

House Price Action Plan: RBNZ Signals National Lending Restrictions

The central bank wants to cap bank lending to property investors with a deposit of less than 40 percent at 5 percent and restore the 10 percent limit for owner-occupiers wanting to take out a mortgage with a deposit of less than 20 percent, according to a consultation paper released today. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news