Christmas is coming for online retailers

We believe the outlook for Australian retailing is looking positive and bodes well for the run into the key Christmas (December 2016) and clearance (January 2017) period. With interest rates at historic lows and a relatively benign, if not positive, macroeconomic environment, Australian retailers look poised for a relatively strong end to the year. Online sales growth continues to outpace Australian Bureau of Statistics (ABS) retail growth. Australia, however, is still well behind its international peers with the USA estimated at 12% and the UK at 15%, where the highly competitive online retail environment has been driven by innovative retailers such as Amazon. The Australian currency at around US76c provides a positive backdrop for domestic online retail spending, given the price arbitrage for offshore internet spending is generally uneconomic as it is generally cheaper to buy in Australia than from an overseas website. (Source: Ausbil Investment Management) (VIEW LINK)

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