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Retailers Looking For A Tourism Boost To Turnaround Trading Woes
New Stats NZ electronic card transaction data for February 2025 shows that total retail sales were down 4.25% compared to February 2024, with the total number of transactions down 2.7%, in a still struggling economy.
Retailers hope the Government’s new focus on growing tourism will provide positive benefits for the struggling sector, Retail NZ says.
“International tourism traditionally hits its peak in February. We know that tourist arrivals are only at about 80% of pre-pandemic levels. In particular, the cruise sector is down 20-25% on last season, which accounts for some of the decline” Retail NZ Chief Executive Carolyn Young says.
“That means thousands fewer feet on our streets. Brick and mortar retailers rely on foot traffic to generate sales so the lower tourism numbers are definitely being felt. Any boost in tourism from here would be welcome relief to retailers”
Growing unemployment is also impacting shopping habits and contributing to retailers’ challenges. Consumer confidence is critical to support an increase in discretionary spending and having confidence in your job security is a factor that is currently impacting consumer buying decisions.
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