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Retailers Still Under Pressure At End Of 2024
New retail spending data shows that the retail sector continued to be under pressure as 2024 drew to a close, Retail NZ says.
New figures from Worldline NZ show that despite strong Boxing Day sales, December continued the downward trend of 2024 with a decline in card spending of -0.7%, dominated by major centres Auckland and Wellington being down 2.0%.
This also continued the pattern of average transaction values declining compared with December 2023.
“Retailers have advised us that the Christmas rush was late arriving and that although Boxing Day sales were busy, they might not make up for the slow start to December,” Retail NZ Chief Executive Carolyn Young says.
“Profitability will continue to be a major challenge for retailers as they finish off what has been a difficult 2024.”
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