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

 

Total online retail spending up 14%

NZ Online Retail Sales - Update for October 2016


Please find attached the latest BNZ and Marketview monthly report on New Zealand’s Online Retail Sales.

HIGHLIGHTS
Total online retail spending was up 14% compared to October last year, continuing the strong trend of recent months.
• Online retail sales at local sites were up 11% on last October.
• Online retail sales at offshore sites were very strong - up 17% on last October.
• Purchases from Clothing, Food and Computer stores were responsible from more than half of the growth in online retail spending this month, when compared to October 2015.
• October 1 was the first day of the ‘Netflix tax’, which added GST to digital online services from international providers. However, our reported figures exclude GST, which means they exclude the estimated impact on prices from the ‘Netflix tax’. Only a few weeks out from its implementation, it’s too early to clearly identify any effects on underlying purchase behaviour. Prima-facie, there appears to be no obvious volume impact so far, for the digital goods which fall into the retail categories we track. (N.B. TV subscriptions are not included as “Retail” under the ANZSIC system, and are not in our series).
• We are planning to release our November report on 22 December, in time for some early Christmas shopping results.

NZ_Online_Retail_Sales_in_October_2016_20161207_FINAL.pdf

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Skodafone Goneski: Sky TV, Vodafone Drop $3.44 Billion Merger Plan

Sky Network Television and Vodafone New Zealand have terminated their merger agreement which aimed to create the country's largest telecommunications and media group, and have withdrawn an appeal against the Commerce Commission's rejection of the plan. More>>

Quake Insurance: Reforms To EQC Act Announced

· Increasing the monetary cap from $100,000 (plus GST) to $150,000 (plus GST) for EQC building cover.
· Clarifying EQC land cover is for natural disaster damage that directly affects the insured residence or access to it... More>>

ALSO:

Reserve Bank: Official Cash Rate Unchanged At 1.75 Percent

Global economic growth has increased and become more broad-based. However, major challenges remain with on-going surplus capacity and extensive political uncertainty... More>>

Kaikōura Earthquake: Private Insurers Receive $1.8b Claims

Insurance Council Chief Executive Tim Grafton said most is for commercial loss at $1.36 billion, with residential claims amounting to over $460 million. “...We have a high level of confidence that most people will have received settlement offers by the end of this year." More>>

ALSO:

Forms And Data: New Proposals To Simplify Personal Income Tax

The Government is proposing to make tax simpler for individuals, with people whose only income is from a salary, wages or investments no longer being required to file tax returns to receive tax refunds or to calculate any additional tax. More>>