Wednesday 3rd August 2016 - 1:59 pm

How we spend our time – and money

by Alan Thornhill

Hard working Australians, who leave themselves little time to shop, are buying more of their food and groceries online.

 

The National Australia Bank, which watches these trends, says we spent more than $20 billion, making online purchases over the past year.

 

And the strongest growth, seen in that time, was among those aged 35 to 44.

 

That is people of prime working age.

 

Their spending on groceries and liquor rose by 20,5 per cent over the past year.

 

They also spent 19.2 per cent more on homewares and appliances.

 

Meanwhile 18-24 year olds spent 22 per cent more on fashion and 19.9 per cent more on media.

 

The bank said that while overall growth in online spending was still quite strong, it had flattened from that seen back in 2011 when the index was first established.

 

The bank’s Chief Econmomist, Alan Oster, said  “the $20.1 billion spent online by Australians in the last year is equivalent to 6.8 per per cent of spending in the bricks and mortar’ retail sector.

 

“And growth by online businesses is far outpacing these traditional retailers,” he added.s


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Alan Thornhill is a parliamentary press gallery journalist.
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