New Zealand's retail sales rise in first quarter

New Zealand's total retail sales rose a seasonally adjusted 2.5% in the first quarter of 2021, Statistics New Zealand said on Monday, following an upwardly revised 2.6% in the previous three months (previously -2.7%).

By industry, the main changes were: electrical and electronic products, up 8.4%; leisure goods, up 16%; hardware , building and garden supplies, up 4.5%; and department stores, up 5.6%. Fuel had the largest decline, down 2.2%, followed by pharmaceuticals and other store-based retail, down 1.4%.

Total retail sales value also increased by 2.5% ($648 million) from the previous quarter .

Twelve out of 15 sectors recorded higher sales in the March 2021 quarter compared to the December 2020 quarter.

The main trends in industry development were: hardware , building and garden supplies increased by 5.6% (NZ$144 million); leisure goods increased by 16% (NZ$109 million); motor vehicles and parts retailing increased by 2.5% (NZ$95 million); and electrical and electronic products increased by 6.6% (NZ$78 million).

Clothing , footwear and personal accessories retailing experienced the biggest decline, down 0.4 per cent ($4.6 million), followed by specialist food retailing, down 0.9 per cent ($4 million). Ten of the 16 regions recorded higher sales in the March 2021 quarter compared to the December 2020 quarter.

On an annual basis, New Zealand sales rose 6.8 per cent, up from 4.8 per cent in the previous three months.

Strong sectors in the year to March 2021 included: motor vehicles and parts ( up 24% ); hardware , building and garden supplies ( up 19% ); and electrical and electronic products ( up 26% ).

Compared to the same period last year, fuel retail sales were down 6.1% ($137m) and accommodation sales were down 10% ($128m), marking consecutive declines throughout the year.

Retail sales, released by Statistics New Zealand , measures total receipts from retail stores. The quarterly percentage change reflects the rate of change in such sales. Changes in retail sales are widely viewed as an indicator of consumer spending. Therefore, against the backdrop of a quiet holiday market, New Zealand's retail sales growth also reflects the region's solid strengthening of spending power.

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