During the first quarter of 2012, retailers based out of New Zealand struggled to keep sales up. According to data from the National Business Review, core retail sales (which excludes auto sales and gasoline) declined 2.5 percent – the biggest quarterly drop in nearly two decades.<\/p>\n
Prior to Q1, the retail sector had been thriving, with 2011 finishing on two quarters of strong growth. A decline was expected by many industry analysts, but not this severely. Overall, the total value of retail sales (including all retail categories) is up 4.4 percent to NZ$17.2 billion compared to the same time frame last.<\/p>\n
"The decrease is not as bad for total retail sales, mainly because of a 6.4 percent ($130 million) rise in sale of motor vehicles and parts," the news source adds. "This was, though, the only category to show a significant increase."<\/p>\n
Across the ocean, the Australia retail sector has also been noted for its recent struggles. Many consumers located in the country are able to get less expensive prices on goods by buying them online and then importing them, which costs local retailers precious sales.<\/p>\n","protected":false},"excerpt":{"rendered":"
During the first quarter of 2012, retailers based out of New Zealand struggled to keep sales up. Continue reading