Retail Radar report: First Quarter 2023
A challenging start to 2023 for retailers
Retailers report a challenging start to the year. The combined challenges of inflation, increasing wage costs and retail crime are hitting home for retailers across the country.
Additionally, Auckland flooding and the devastating effects of Cyclone Gabrielle had localised impacts for a substantial number of retailers in the North Island.
The pessimistic outlook continues for the next three months, with almost half of retailers not expecting to meet targets again for in the second quarter.
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Retail Radar: Retail NZ surveys retail business owners and tracks retailer sentiment over time. Covering current sales data and future expectations of sales, inflation and key issues. Retail Radar is your one stop shop for learning about business trends in the New Zealand retail market.
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Published by Retail NZ in April 2023.