Update on New Zealand’s retail spending

Stats NZ has released data from March regarding Kiwi's retail spending. The results show an overall steady amount of retail spending throughout the month, with one industry showing a significant increase.

Department stores showed higher spending in the month of March, increasing by over 4 percent.

Retail Statistics Manager, Sue Chapman, released a statement unpacking this report. "Consumer-spending patterns may reflect more gift-buying at department stores rather than spending on traditional florist or jewellery stores," she explained. The sector showed a strong recovery after it's substantial fall in December of 2018.

However, industries on a downward trend included pharmaceutical and other store-based retailing, including cosmetics stores. This sector showed a 5.7 percent decline, and Chapman shared that a likely cause was the dip in international visitors' numbers, which coincided with the period.

The pharmaceutical and other store-based retailing industry also suffered a substantial drop in sales value, despite the country's overall numbers rising. The industry fell 8.5 percent, equally $131 million, following the impressive 11 percent rise last December.

Department stores, on the other hand, witnessed a 2.9 percent increase, to the equal of $39 million.