Retail spending hit hard in Q2

Mon, 24 Aug 2020

Actual retail sales values fell 15 percent in the June quarter as covid-19 crimped spending. It was the biggest drop on record in figures going back 25 years, Stats NZ said.The decline in spending was widespread, in particular in categories associated with hospitality and tourism. Spending on accommodation fell 44 percent while food and beverage services fell 40.5 percent.The only category that held up was spending on groceries, which lifted 12 percent.“This unprecedented fall in the June quarter was not unexpected, with covid-19 restrict...

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