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Online shoppers in Australia and New Zealand have slowed spending and are giving local sites preference, according to Coremetrics data cited by Inside Retailing.

The company found online sales conversions in Australia and New Zealand dropped to 2.9 and 2.5 orders per 100 online sessions, respectively, in Q4 2008, down from 4.4 and 4 between April and June 2008.

Read the full story on eMarketer