Online retailing has been belted by Australia’s economic woes, with November’s sales figures recording the slowest monthly and annual growth since the series was first compiled.
And some bricks-and-mortar retailers are also doing it tough, with shares in outdoor equipment retailer Kathmandu plunging 20 percent after poor Christmas sales forced the company to issue a profit warning.
According to National Australia Bank, not only are November’s online sales down 0.2 percent on October, they are only 3.9 percent higher year-on-year.
