WHAT’S NEXT FOR RETAIL?
There’s no doubt that retail took a major body blow from Covid-19. Around the country the most obvious evidence lies in the empty shops and the proliferation of ‘For Lease’ signs.
And it’s not over yet. The latest Retail Radar Survey published by Retail NZ reveals that a significant number of smaller independent retailers are still struggling. Thirty-seven percent of retailers report that they are either unsure or not confident they’ll survive the next 12 months.
“This reflects systemic changes in the market – for example, the lack of international tourists and reduced foot traffic in central cities, as well as the impacts of Auckland yo-yoing in and out of lockdown earlier this year,” says Greg Harford, chief executive of Retail NZ.
He says Auckland’s mid-February and early-March lockdowns were particularly disruptive for retailers nationwide. “Partly because Aucklanders were unable to travel and spend; and
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