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Core Retail Results Steady in the Third Quarter
16 November 2015
Core Retail Results Steady in the Third Quarter
Retail NZ says today’s Retail Trade Survey results show core retail business has been steady through July, August and September with a 1.4 per cent seasonally adjusted increase in sales, but retailers will be looking for trade to pick up in the lead up to Christmas.
“Online shopping continues to boom,” Retail NZ Chief Executive Mark Johnston said today. “The latest figures show ‘non-store and commission-based retailing’ (which includes online-only retailers) saw significant growth again this quarter. It hit $304m, up 45 per cent in actual terms on the same quarter of last year. ‘Electrical and electronic goods’ also had a lift.
“Kiwis love shopping online, and these results show that it’s more important than ever for retailers to be available wherever and whenever customers want to shop.
“Spend by New Zealanders on foreign websites is not reported in the Retail Trade Survey – but other sources show it also continues to increase rapidly in terms of value and the number of transactions.
“Retailers are telling us that while they’ve been mostly been hitting sales targets for the past quarter, global etailers continue to compete aggressively for domestic business. New Zealand retailers are disadvantaged from the outset because they have to charge 15 per cent GST on all purchases,” said Retail NZ Chief Executive Mark Johnston.
“The important Christmas period is approaching and Retail NZ is again promoting the benefits of shopping locally, whether in-store or with New Zealand etailers, though the #BuyKiwi campaign. There are real benefits when we shop with New Zealand retailers, including protection under the Fair Trading and Consumer Guarantees Acts. We know that we are going to get what's promised and we can take something back if there's a problem or if it's not fit for purpose. It also means that the money we spend stays in the local economy, supporting jobs, growing businesses and keeping out town centres vibrant.”
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