Spending Cuts by Around 50 per cent During the Lockdown

  • May 11, 2020 NZST
  • Team Kalkine
Spending Cuts by Around 50 per cent During the Lockdown

As per the Stats NZ, due to non-essential businesses shut down during the lockdown, kiwis' retail card spending fell by more than NZD 2.6 billion.

Retail statistics manager Kathy Hicks said the fall in spending was expected due to businesses hibernating during the lockdown.

Due to the pandemic time, all industries declined massively in April. The hardware, furniture, appliances led the retail industry declines in value by just over NZD 1 billion, equivalent to 72 per cent, from March in the current year.

 


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