Recent survey results show a 0.6% fall in retail sales between February and January this year. Experts say it’s due to the large amount of retailers having constant sales - no one’s buying unless they’re getting a discount!
Results out from the latest Statistics New Zealand survey has found that the retail sector has suffered a $32 million fall in total sales for February compared to previous month. Stores hit the hardest were department stores and those in appliance retailing. On the brighter side, an increase of 2.4% was seen in clothing and soft goods sales.
Experts say that this decrease could be explained by retailer’s constant sales and discounted pricing. On top of this, consumers are so used to all the discounting in stores that they’re less willing to purchase goods at full price.
Easter saw nearly half of stores on sale over the holiday period- with a significant portion of them offering a storewide promotion. These promotions sparked a rise in turnover with an increase of 5.9% in spending. It appears that 18 months of nationwide sales means that people are only out to buy a bargain!!
Although the economy has started to pick up, retailers are still finding it hard. Slow periods in sales are putting a squeeze on profits. With the change of season upon us, hopefully March will see an increase in sales figures! However, the pick-up will likely be minor as people start to adjust their spending habits.
To find out more on this story see: http://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=10638352 or have a closer look at the Statistics at http://www.stats.govt.nz/browse_for_stats/industry_sectors/RetailTrade/RetailTradeSurvey_HOTPFeb10.aspx
Get the latest hot jobs sent straight to your inbox!
Retailworld Resourcing is a recruitment agency that specialises in the retail sector. We place people in retail jobs in New Zealand and retail jobs in Australia, throughout all areas and levels within the retail industry.
v1.1