Retail Card Spending Picks-Up After Lockdown | NZ Market Update

There is a new charging system for kiwis returning home to reduce pressure on the managed isolation and quarantine system. Housing Minister, Megan Woods said controlled isolation management for returnees would come into force from 11th August, once it passes through the last cabinet process. It will balance their right to return home and also help and lessen the pressure on the managed isolation and quarantine systems. She added that If some people need to return but are unable to afford the charges, they will still be able to return home.

The US-based entity, Groupon that allows businesses to sell online vouchers and deals to subscribers, is closing its New Zealand business. Notably, Groupon’s website read that as of 11 August 2020, the Company would no longer offer any new deals. Furthermore, the website read, "If you are a current customer with a deal voucher that has not been redeemed and is still valid, you have until 30 September to use this. If your voucher expires before 30 September, the original expiration date stands.” Additionally, in an email to customers, Groupon unveiled that the decision to shut down was made following a thorough analysis of the NZ market.

As per Stats NZ, the retail card spending has increased after lifting of the lockdown, mainly due to sales of hardware, furniture, and appliances. The spending on durables witnessed the largest retail industry rise, up by $259 million or 20 per cent, as compared with July 2019. The total retail spending using electronic cards made $6.0 billion in July 2020, up by $610 million or 11 per cent from July 2019. The second-highest spending increase was witnessed in specialized foods, supermarkets, and liquor stores, up by $245 million or 12 per cent compared from July 2019.

#Retail #GroupOn #Kalkine

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