According to the latest BNZ and Marketview monthly report, the growth rate for New Zealand consumer's online retail spending was up 14 percent in May compared to May 2016. Purchases from international e-retailers were up 16 percent last May and have continued along a similar growth trajectory this year. Compare this to May 2016, which saw local e-retailers up 13 percent. Almost half of this growth was driven by purchases in computer/technology, clothing, and cosmetics. The monthly report has shown double-digit annual growth rates for 18 out of the past 20 months for local e-merchants whereas bricks-and-mortar stores were only up 4 percent May 2016.
The director of Institutional Research at the BNZ explained that the result confirmed earlier suspicions that the timing of Easter and weather contributed to the dip in growth rate as seen in April.
