With Coronavirus virtually supressed in the country, New Zealanders have gone on a huge spending rush as they enjoy their time out of lockdown.
Retail NZ has compiled statistics around retail behaviour post Covid lockdown and it shows that the country is tracking at a higher spending level than last year, something completely unexpected considering the country has been on lockdown for 4 weeks. In fact, overall spending was up by 0.3 percent for the months between March and October 2020. Of those months, October was exceptionally good with retail sales up 20.8 per cent compared to last year.
The strong increase in retail sales was attributed to the fact that New Zealanders had money saved away due to having lesser means of spending it. Not only did they have money saved away, there are also record low interest rates, higher house prices and New Zealanders spending very little on holidays.
Despite the good results, not all areas of retailing are benefiting from the spending boom. A good number of businesses have taken a huge hit from Covid, and continue to suffer during the months that have followed lock down. Theses business include those that are tourism and those that have not been able to take advantage of online shopping.
A store that has done particularly well during the Covid epidemic is Onceit. Use a Onceit promo code to save on your purchase.