What’s happening in the retail sector?
Find out with Retail Radar, our monthly research report. It’s useful for:
- Getting a snapshot of the sentiment of Kiwi retailers.
- Identifying future expectations of sales, inflation, and employment intentions.
Our Retail Radar report on the first quarter of 2022:
Retailer confidence slumps while inflationary pressures remain.
The widespread emergence of Omicron in the community has seen many retailers miss quarterly targets, as dissatisfaction with the Government’s response to COVID-19 remains steady. On average retailers expect prices to rise by more than seven per cent on average over the next three months.
The Retail NZ sales index recorded a slow start to 2022, the widespread emergence of Omicron in the community being a key factor. In total, spending was up four per cent for the quarter, compared to a decline of 17 per cent from the previous quarter. While sales are up on average, some stores are facing substantial declines. Additionally, costs are also increasing at a rapid rate, sometimes outstripping any gains in sales.
We welcome all feedback on Retail Radar – if you have any comments or questions please email: [email protected].
