NAB Online Retail Sales Index July 2025

This document is the NAB Online Retail Sales Index for July 2025, produced by NAB Group Economics. It reports a month-on-month decline in the NAB Online Retail Sales Index, with a drop of 1.0% compared to June, which was revised to a growth of 2.2%. Despite this decline, year-on-year growth remains strong at 16.2%. The report details that all retail categories experienced a contraction in growth except for takeaway food and department stores, with homewares and appliances showing the most significant decline. The report also notes that all states recorded a decrease in growth, particularly New South Wales and Victoria. However, department stores showed an acceleration in growth, especially in South Australia, Western Australia, Queensland, and the Australian Capital Territory. The document outlines the methodology used to compile the index, including the merging of SME and Corporate Online data into a single index and adjustments for seasonal variations. It emphasizes the importance of understanding consumer spending patterns in the context of online retail.