Retail optimism

The latest Bay of Plenty retail spending figures from July are seen by some sectors as a positive sign the region's economy is improving.
The Bay of Plenty was the fifth highest spending region in July, according to eftpos transaction company Paymark.
Shoppers across the Bay of Plenty racked up $212million via eftpos transactions in July.


Kylie Hospenthal from No.1 The Strand Restaurant and Bar considers the recent figures a positive sign the economy is improving.

The total amount spent across New Zealand in July equated to $3.48 billion, up 1.1 per cent on the same time in 2008.
Paymark spokesperson Paul Gunn says transactions through the Paymark eftpos system make up two thirds of all money spent in New Zealand.
Tauranga Mainstreet manager Kirby Weis says while the figures are an encouraging sign in the current economic climate, it is not time to pop the champagne yet.
'When they release these figures, they lump a whole lot of other things in with it. Unfortunately, supermarkets and petrol stations make up a big portion of that.
The first rule in retail is never to paint things in a negative light, but at the same time you have to paint things accurately,” says Kirby.
Tauranga Chamber of Commerce CEO Max Mason is pleasantly surprised by the spending figures and considers it another ‘green shoot'.
'I'm quite cheered spending has remained relatively the same because anecdotally the last six months has been the worst.”
'We can't get away from the fact that we are going through an economic downturn but the spending figures show the economy is resilient and people are still spending,” says Max.
He says he can walk down Devonport Road and find many retailers who are optimistic despite the downturn.
'There are those that are having a tough time, and everyone acknowledges that, but more green shoots are on the horizon,” says Max.

0 comments

Leave a Comment


You must be logged in to make a comment.