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Summary
- The total retail sales volumes (seasonally adjusted) in New Zealand rose 2.5% on quarter in March 2021.
- Higher retail expenditure on electrical and electronic goods (+8.4%) and recreational goods (+16%) helped in improving overall spending in Q1 of 2021.
- Some industries showed strong sales, while some were negatively impacted amid COVID-19.
New Zealand retail sales volumes (seasonally adjusted) grew 2.5% in the March quarter of 2021 after falling 2.6% in the previous quarter, as per the retail trade quarterly release by Stats NZ.
The most significant gain was 8.4% in electrical and electronic items, followed by a 16% gain in recreational items in the March quarter of 2021. Both industries had witnessed a 0.3 % and 14% drop in the prior quarter, respectively.
Elevated retail expenditure on electronic items and outdoor recreational goods during summer contributed to increased total spending in the first quarter of 2021.
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Retail trade statistics track the sales volume and inventory levels of a variety of firms, which sell household and personal items. Supermarkets, car dealerships, gas stations, department shops, and cafés and restaurants are some of the examples of retailers.
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Retail business manager Sue Chapman stated that in the first quarter of 2021, more spending in the electrical industry corresponded with dropping prices for computers and phones. Further, recreational and outdoor sporting products were on top of the charts for many New Zealanders throughout the summer holiday break.
Many people were looking forward to being able to travel throughout the nation for camping, boating, or riding sports, as well as a chance to attend huge events like the America's Cup, she noted.
Mixed sales results for industries amid COVID-19
On an annual basis, total retail sales values increased $1.6 billion (6.5%) in the first quarter this year after a $1.3-million (4.9%) rise three months prior.
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Some industries witnessed strong sales, while some were adversely impacted amid COVID-19.
Some industries that stayed robust for 12 months ended March 2021 were- motor vehicles and parts, which rose by 24% or $740 million, electrical and electronic goods rose 26% or $239 million and hardware, building, and garden supplies increased by 19% or $407 million.
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Fuel retailing (down 6.1%, or $137 million) and lodging (down 10%, or $128 million) were the two industries that had successive drops all through the year.
Supermarkets and grocery stores (-5.2% in this quarter compared to +13% in the same quarter of 2020) were a mixed bag throughout COVID-19 while being open as it operates in essential category.
(NOTE: Currency is reported in NZ Dollar unless stated otherwise)
