Online shopping forecast to grow 12 pct a year

Online shopping in this country is forecast to rise 12 percent in 2011 to $2.68 billion, of which an estimated $910 million will be spent with overseas retailers.

The predictions are in a report, published today by PricewaterhouseCoopers and Frost & Sullivan, which said online retail sales in New Zealand now accounted for 5.1 percent of all sales. That was on a par with Australia but behind the 7.5 percent in the United States and 9 percent in Britain.

About half of New Zealanders would shop online in 2011, with each shopper spending an average of almost $1400, the report said.

Online shopping in this country was expected to grow 12 percent a year to $4.22b by 2015.

PwC global retail and consumer advisory leader Stuart Harker said retailers were facing stronger than ever competition from digital competitors, as online shopping was boosted by lower prices, convenience, greater product range, and growth in mobile devices.

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