INDEPENDENT NEWS

Strong Retail Sales In November On Back Of Singles Day, Black Friday & Cyber-monday

Published: Tue 1 Dec 2020 09:23 AM
The latest Retail NZ Sales Index, shows that spending through November remained strong, and that total spending since March is now ahead of last year.
“The Retail NZ Sales Index for November reports that spending through the month was around 25.7 per cent higher than last year, and that total spending since March is now 3.4 per cent higher than for the same nine months last year,” Greg Harford, Retail NZ Chief Executive, said today. “This is good news after a year of turmoil on the back of COVID-19. The strong overall result reflects increased consumer confidence, the fact that Kiwis are staying at home and not travelling overseas, and low interest rates which may be encouraging spending. However, performance is uneven across the sector and, while many businesses are performing well, a significant number of individual businesses are continuing to see their revenues lag well behind last year.
“The Singles Day, Black Friday and Cyber Monday shopping festivals will have contributed to the strong November result, and retailers will be hoping that consumer confidence remains strong in the run-up to Christmas. Key challenges for the sector include managing supply chain and freight delays, as well as the risk that businesses could be ordered closed if there were a further outbreak of COVID-19.”

Next in Business, Science, and Tech

February 2021 New Vehicle Registrations Strongest On Record
By: Motor Industry Association
Lockdown Equals Slowdown For Some
By: Paymark
Te Waihanga Releases Report On Water Infrastructure
By: New Zealand Infrastructure Commission
Perseverance Rover Lands On Mars – Expert Reaction
By: Science Media Centre
Matariki Almost A Half Billion Dollar Tax On Business
By: ACT New Zealand
Genesis Assessing 6,000 GWh Of Renewable Generation Options For Development By 2025
By: Genesis Energy
OECD Unemployment Rate Stable At 6.9% In December 2020, 1.7 Percentage Points Higher Than In February 2020
By: OECD
Missions To Mars: Mapping, Probing And Plundering The Red Planet
By: Binoy Kampmark
Could The Next Emirates Team New Zealand Boat Be Made Entirely Of Hemp?
By: New Zealand Hemp Industries Association Inc
View as: DESKTOP | MOBILE © Scoop Media