Retail figures not good, but much worse overseas

Media release
Newmarket Business Association
Friday 15 May 2009

Retail figures not good, but much worse overseas

Statistics New Zealand's retail figures released today for the March 2009 quarter show the volume of sales across the country is down. However New Zealand has not seen the huge slide in retail that other overseas countries have experienced, according to the head of Auckland's leading retail district.

"Sales volumes in core retailing fell 1.2 percent, yet the overall value of those sales actually rose slightly by 0.3 percent. Arguably this shows that Kiwis may be buying less, but they're focused on more quality purchases," says Cameron Brewer, general manager of the Newmarket Business Association.

"Sure the figures have slipped on previous quarters but we're not seeing the big declines like they've had in the UK and United States

"We've got to keep this in perspective. Statistics New Zealand reports that for the month of March, when seasonally adjusted, 19 of the 24 retail industries saw 'sales change little from February, up or down $4 million or less'.”

"When you take out vehicle-related categories, and some of the big format and ticket items, any falls in core retailing are not overly dramatic.

“Many New Zealand retailers are still doing comparable figures. In fact with the onset of a relatively early winter, I'm convinced the next quarterly figures will show that many retailers selling the likes of heaters and winter woollies are off to a good seasonal start,” says Cameron Brewer.

ENDS

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