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New Zealand retail a step ahead

New Zealand retailers have achieved outstanding results, according to a recent study.

Retail management software provider Vend conducted its first Retail Benchmark Report, comparing sales data from over 13,000 retailers, honing in on Australia, New Zealand, North America and the United Kingdom where the software is primarily utilised.

The studies, released last month, compared revenue, transaction values, sales volumes and customer visits across various retail sectors including fashion, jewellery, home appliances, cosmetics and furniture.

The study categorised retail sectors and showed that the jewellery sector grossed the fourth-most revenue across the countries surveyed, averaging US$29.9 million (AU$40 m), beaten out by sporting goods, alcoholic beverages and furniture.

The average transaction value across the entire survey over 12 months was US$53.98 (AU$72.37). Jewellery had registered an average transaction value of US$126.87 (AU$107.09), second only to furniture, almost double at US$248.42 (AU$332.77).

Jewellery was less competitive in terms of average monthly transaction value, with the sector achieving an average of 190 sales per month, again falling second to the furniture category.

New Zealand recorded the highest monthly transactions per store, averaging 603 sales a month. Australia averaged 506 transactions a month.

The report did reveal however, that Australia’s average transactional value is 7 per cent higher than New Zealand, with liquor, sporting goods and furniture having the highest gross revenue per month.

Vend country manager for Australia and New Zealand Dave Scheine said the data reflected consumers’ desire to support local business.

“While New Zealand shoppers may not be spending quite as much as consumers elsewhere, they are clearly still choosing to shop with independent stores, which is a testament to the unique products and experiences local retailers are providing,” Scheine said.

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