Retail New Zealand says new retail spending data shows the sector continues to be under pressure as 2024 drew to a close.
New figures from Worldline NZ show despite strong Boxing Day sales, December continued the downward trend of 2024 with a decline in card spending of -0.7 per cent, dominated by major centres Auckland and Wellington being down two per cent.
This also continued the pattern of average transaction values declining compared with December, 2023.
“Retailers have advised us the Christmas rush was late arriving and 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.”
