That’s according to Retail NZ’s latest Retail Radar report, which found that 73.7 per cent of retailers are confident their businesses will survive the next 12 months. The previous eight-quarter average was 68.7 per cent.
Retail NZ CEO Carolyn Young highlighted the confidence of retailers ahead of the festive trading season, despite ongoing economic challenges.
“We’re seeing strong confidence levels among retailers despite the continued pressures from high fuel prices, inflation and unemployment, a weak Kiwi dollar, muted consumer spending, and rising business costs,” Young said.
“More than three-quarters of respondents say they expect to meet or exceed their targets in the final three months of the year.”
Retail NZ's figures put the proportion at 75.1 per cent. In contrast, the share of retailers missing their targets fell to 53 per cent in the third quarter, compared with a two-year average of 60.7 per cent.
The report also identified priorities for the next government ahead of New Zealand’s general election. These include stabilising fuel prices, cutting business and payment costs, and holding overseas platforms like Temu and Shein to the same product safety standards as local retailers.
A total of 87.6 per cent of respondents supported increased accountability measures for large online platforms. Meanwhile, 88.5 per cent backed changes to electricity pricing to reduce business costs.
“Retailers are telling us they want a fairer and more predictable operating environment, that sets them – and the economy – up for success,” Young said.
Young urged the next government to offer greater certainty and lower costs for New Zealand retailers.
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