Latest retail stats show things are rebounding in Level 2

Taranaki retail statistics for the week ending 17 May show the region is embracing the move to Alert Level 2, with spending strongly rebounding as doors and workplaces are reopened.
 
“We have seen a very strong comeback following lockdown, with spending just 2.9% down on the same week last year,” says Venture Taranaki Chief Executive Justine Gilliland.
 
“There appears a genuine and tangible desire amongst residents to support local and to get the local economy going. As we work with Councils and business groups around Maunga Taranaki to extend the Go Local message, it is heartening to see that we are outperforming the national average, where sales remain 11.2% behind last year’s benchmark.”

View the latest retail stats here
 
“These results should be seen as a huge boost for regional and business confidence and sets a strong foundation for driving the region towards a stronger recovery,” Justine says.
 
The number of transactions for the week remain 18.7% down on last year, which alongside the value of spend only 2.9% down, suggests the average spend per transaction is up.
 
“The move from Alert Level 3 to Level 2 has seen sectors reopen their doors at different rates, and this will have impacted what spending has been able to take place, and in combination with the much longed-for purchases people have wanted to make, has resulted in a slightly changed landscape beneath the numbers,” says Anne Probert, Venture Taranaki’s General Manager of Strategy and Sectors.
 
“The move from Alert Level 3 to Level 2 has seen sectors reopen their doors at different rates, impacting what spending has been able to take place. Lower-value high volume transactions are likely less prevalent as habits around supermarket shopping have changed and remote working is continued by many workplaces,” says Anne Probert, Venture Taranaki’s General Manager of Strategy and Sectors.
 
“The ability and speed at which things bounce back will vary amongst sectors and within retail categories. Home and recreational retailing are up 42.2% on last year, while food and groceries has continued to perform well, 21.8% up.”
 
“Hospitality and accommodation remain well down – 38.5% - on last year, but are rebounding strongly, and we anticipate will show considerable gains as Level 2 progresses. Tourism and visitor accommodation will take longer to rebound, particularly as the nation’s borders remain tightly managed.”
 
Spending by internationally registered cardholders remains 35.6% below last year in terms of spend value, and 29.8% down by transaction volume.
 
Overall, the outlook for the region was positive.
 
“These results are a good sign that our region can potentially recover from the impacts of the COVID-19 restrictions ahead of the forecasts,” Justine says.
 
“Taranaki has always had a strong sense of pride and community, and this is becoming increasingly evident at a time when we need to really support our local economy.”
 
“It’s important that we don’t see this support as a momentary response though. We need to ensure we can ‘return to better’ and embed Go Local into all that we do at both a personal and enterprise level.”

View the latest retail stats here