Retail NZ chief executive Carolyn Young says retailers will be relying on the upcoming peak holiday sale period after sales rose just 0.5 percent in the third quarter ended September, compared with a year earlier. Photo: 123RF
Retailers are struggling, with more than half dealing with higher costs and soft consumer demand.
The Retail NZ Sales Index indicates sales rose 0.5 percent in the third quarter ended September, over the year earlier, while cost inflation rose 5.6 percent.
Retail NZ chief executive Carolyn Young said retailers would be relying on the upcoming peak holiday sale period to make up the numbers, with 61 percent missing their sales targets in the third quarter.
Young said retailers were also dealing with wage increases, freight costs and higher lease and rent costs.
She said just 57 percent of retailers surveyed felt confident or very confident that their business would survive the next 12 months.