New Zealand retail has suffered from a fall in retail card spending over the December quarter, one of the industry’s most lucrative and high traffic periods.
Stats New Zealand released data indicating a fall of 0.2 percent for card spending in retail stores nationwide. The apparel industry was hit particularly hard during this period, with a $2.3 million fall in spending.
The statistics manager for Stats New Zealand, Sue Chapman, has commented on the report following upset from retailers. Chapman noted that this fall followed a dramatic increase during the September period, where retail card spending rose by 2.1 percent.
December growth has been softer for New Zealand this year, with lower overall sales.