Latest news with #Ann-MarieJohnson
Scoop
22-05-2025
- Business
- Scoop
No Quick Growth For Retail In Budget 2025
The struggling retail sector will see little immediate prospect of an uplift in consumer spending from today's Budget announcements, Retail NZ says. 'There is little in the Budget to suggest that we will see any quick improvements in consumer and business confidence,' Retail NZ Advocacy Manager Ann-Marie Johnson says. 'There will be no economic growth without retail growth. Until consumers feel confidence about their future, they will continue to be careful about spending their discretionary dollars.' Retail NZ welcomes the Government's continued focus on combating crime, with the increased spending on policing, serious youth offenders and cutting the backlog in our courts. The new Investment Boost, allowing a business to immediately deduct 20% of the cost of a new asset, on top of depreciation, will no doubt be of value to retailers who are looking to invest in their businesses, Ms Johnson says. 'However, only yesterday Smith + Caughey's confirmed it will close, with the loss of almost 100 jobs. This is just the latest retail business closure that we are aware of. Many more retailers will struggle to make it through the winter. 'Our members will need to continue tightening their belts in anticipation of slow sales until confidence returns to the marketplace. The light at the end of the tunnel is still a long way off.'
Scoop
14-05-2025
- Business
- Scoop
Budget 2025 Must Deliver Consumer Confidence
Press Release – Retail NZ Retail NZs latest quarterly Retail Radar survey, covering January-March 2025, found that 57% of retailers did not meet sales targets for the quarter and had mixed expectations for quarter two sales. Retailers will be looking for next week's Budget announcements to boost consumer confidence and spending, Retail NZ says. Strong signals on economic recovery are on Retail NZ's wish list for the Budget announcements. The Electronic Card Transactions data for April 2025, released today by Stats NZ, shows a tiny increase in sales compared with April 2024, it is not enough to improve the outlook for retail, Retail NZ Advocacy Manager Ann-Marie Johnson says. The 0.8% lift reflects the Easter public holidays, which fell fully within April this year, and also within the April school holiday period. Easter spanned March and April in 2024. The figures also show that the value of the average transaction has not changed since April last year, with consumers spending $55 per transaction. 'There's still a long way to go before we see any light at the end of the tunnel. Retail NZ members are anticipating slow sales and uncertainty through this winter. Although there may be some relief from lower interest rates putting more money in consumers' pockets, low consumer confidence will continue to rein in spending. We are hoping the upcoming Budget will help restore confidence to the marketplace.' Retail NZ's latest quarterly Retail Radar survey, covering January-March 2025, found that 57% of retailers did not meet sales targets for the quarter and had mixed expectations for quarter two sales.
Scoop
14-05-2025
- Business
- Scoop
Budget 2025 Must Deliver Consumer Confidence
Retailers will be looking for next week's Budget announcements to boost consumer confidence and spending, Retail NZ says. Strong signals on economic recovery are on Retail NZ's wish list for the Budget announcements. The Electronic Card Transactions data for April 2025, released today by Stats NZ, shows a tiny increase in sales compared with April 2024, it is not enough to improve the outlook for retail, Retail NZ Advocacy Manager Ann-Marie Johnson says. The 0.8% lift reflects the Easter public holidays, which fell fully within April this year, and also within the April school holiday period. Easter spanned March and April in 2024. The figures also show that the value of the average transaction has not changed since April last year, with consumers spending $55 per transaction. 'There's still a long way to go before we see any light at the end of the tunnel. Retail NZ members are anticipating slow sales and uncertainty through this winter. Although there may be some relief from lower interest rates putting more money in consumers' pockets, low consumer confidence will continue to rein in spending. We are hoping the upcoming Budget will help restore confidence to the marketplace.' Retail NZ's latest quarterly Retail Radar survey, covering January-March 2025, found that 57% of retailers did not meet sales targets for the quarter and had mixed expectations for quarter two sales.
