Business / Money

Electronics create retail sector buzz before lockdown, figures show

14:51 pm on 24 August 2021

New figures show the retail sector was buoyant ahead of the nationwide lockdown, with sales of electronics leading the charge.

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Data from Stats NZ showed the total retail sales volume increased 3.3 percent in the June quarter, following up on a 2.8 percent rise in the March quarter.

"Most retail industries saw increases in spending, with rises across all regions. Spending on big ticket items such as electrical goods, housewares, and vehicles was a priority for many consumers during this June quarter," Stats NZ retail trade manager Sue Chapman said.

Electrical items were the biggest hit, with sales volumes up nearly 6.9 percent followed by a 5.6 percent rise in food and beverage and a 3.1 percent rise motor vehicles and parts retailing.

"Many retailers saw higher sales this quarter, following the uncertainty of this time last year when the country was emerging from the first major Covid-19 lockdown period," Chapman said.

Sales values were also boosted by vehicle sales, as well as eating out.

When the effects of price changes are included, the seasonally-adjusted value of total retail trade sales rose $1.1 billion (4 percent) in the June quarter, Stats NZ said.

Food and beverage services had the largest dollar value increase, up $222 million (7 percent) this June quarter, following a modest rise of $43 million (1.4 percent) in the March quarter.

Sales values for motor vehicle and parts retailing reached over $4 billion for the first time.

The industry had a strong increase of $179 million (4.6 percent) in this June quarter following the $117 million (3.1 percent) rise for the March quarter.

"We received comments from some vehicle respondents, stating a surge in sales of higher priced vehicles, and that they saw more interest in electric vehicle purchases during this quarter," Chapman said.