Get the latest retailer news on the New Zealand economy and merchant business in our monthly Retailer News. Each issue covers a range of topics, including merchant service updates, credit card fraud, and economic commentary from BNZ Chief Economist Tony Alexander.
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In the latest Retailer News
December 2017, see previous articles
Tony’s Take – Economic commentary from BNZ Chief Economist Tony Alexander
Now that the General Election is out of the way there is a general expectation that the restoration of confidence will produce a rebound in housing activity, business employment and investment, and consumer spending. However, the historical evidence is not all that convincing, and instead
the approach of the summer slowdown for most sectors may produce a spur of activity over October and November into December which gets incorrectly attributed to post-election relief.
For retailing the signs are nonetheless good in terms of continuing good jobs growth and labour demand, upcoming slightly faster wages growth, continuing above average (though easing) net migration inflows, strong tourism growth, and low interest rates. But there is no reason for believing that competition from online sources (Amazon is opening soon in Australia) and greater consumer ability and willingness to search for alternative products, prices, and suppliers will wane. Margin management is going to remain very challenging – especially as wages growth lifts.
Read more in the latest Retailer News PDF 53KB October 2017
If you have any questions, or need some help, please contact our EFTPOS & Internet Merchant Sales and Services team on 0800 737 774, Option 4.
Previous Retailer News articles