Lockdown wipes out retail sales recovery

Wed, 02 Sep 2020

Retail confidence has fallen after Auckland went into a second lockdown.Retail NZ’s August survey has found almost 70 percent of retailers said sales had fallen since the level 3 lockdown. In Auckland sales fell 90 percent.About 65 percent of retailers were confident or very confident their business would survive the next 12 months, a fall from 75 percent recorded in July. About 10,000 retail businesses are estimated to be at risk of going under within the next 12 months.Overall spending between March and August was down 6.4 percent.Addin...

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