Online Spending Falls

The Bank of New Zealand has reported that online spending slipped last month after the lockdown high.

Although online spending in June was 15.7 per cent ahead of the same time last year, compared to last month online saw a decline in spending with overall sales down 27.4 per cent on May.

Furniture, homewares and hardware continued to be in-demand post-lockdown, up 50 percent on June 2019. Recreational goods and entertainment were also up 22 percent on June 2019, while electronic goods was up 17 percent. Similarly, online groceries and liquor sales were up 15 percent. All fell on May’s figures.

During June, just over 67 per cent of online spending was made at domestic websites.

“It will be interesting to see how much of the online spending behaviour that was thrust upon some consumers remains, and how much of that continues to be purchased at the domestic offering,” BNZ said. 

“If June is any indication,  it looks like a portion of this behaviour is here to stay.”