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Survey: Shopfronts rule retail in Australia

Online sales in Australia account for less than 5 percent of the total retail sector, but shoppers are slowly drifting that way, a new survey shows.

National Australia Bank (NAB) on Monday released its inaugural Online Retail Sales Index which tracks online spending by Australian consumers.

The index found that while the online retail sector grew by 29 percent in 2011, it currently accounted for only 4.9 percent of total Australian retail spending, with more than 95 percent of purchases happening in actual stores.