Online shopping shift picks up speed

Online sales in the retail sector increased in the month of February indicating growth in consumers willingness to spend online.

Figures showed the National Australia Bank Online retail sales index jumped 26 per cent in the year to February, increasing from the 19 per cent pace in the year to January.

“This increase was particularly notable given that February 2010 and 2011 recorded little to no growth when compared with the preceding month of January,” said NAB chief economist Alan Oster.

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