Taranaki retail statistics for the week ending 7 June show the region is still on an upwards trajectory of spending

Taranaki retail statistics for the week ending 7 June 2020 show the continuation of an upwards trajectory of spending, up 8.2% when compared to regional spending this time last year, and ahead of the national average at 2.7%.
 
“Although transaction numbers remain down, it is encouraging to see retail spend continuing to sustain”, says Venture Taranaki General Manager Regional Strategy and Sectors, Anne Probert.
 
“It is also reassuring to see these figures remaining stable since last week, with an increase from 7.9% to 8.2%, as Taranaki continues to go local with their spending,” says Probert.
 
Home and Recreational Retailing is still the top category for spending up 45.4% on last year.
 
While Hospitality and Accommodation is still down, 3.3% compared to this time last year, spending is slowly picking up in this category, with an increase of 3.4% from last week’s figures.
 
“Spending across Hospitality and Accommodation is starting to slowly recover, now that people can move around the country more freely, and Queen’s Birthday weekend has helped, with visitors coming in region, staying and dining out.”
 
“Now that we’re at Alert Level 1, and restrictions on gatherings in large crowds have been removed, we may start to see some growth across the categories that had previously been affected, such as fuel and automotive, and hospitality and accommodation,” Anne continues.
 
Clothing, footwear and department stores remain up, 22.1% on this time last year, with transaction volume up 16.7%.
 
With regional spending up overall, the average regional volume of transactions remains slightly down, signalling that people are committing to higher-value purchases.
 
“It’s heartening to see that Taranaki is maintaining an average that is ahead of the national average, as we ramp up our COVID-19 regional recovery, and ‘return to better’, plan,” says Anne.
 
“Keeping our spending in Taranaki, or at least New Zealand, provides much needed support for our local enterprises, helping to keep people in jobs, and our economy going.”
 
“It is imperative that collectively we’re aware of the impact that local spending has on Taranaki’s chance for a speedy recovery,” Anne concludes.

Read the report here.