Economic recovery drives retailing performance
During 2013 the New Zealand economy showed strong signs of recovery following the global financial crisis and the 2010 and 2011 Christchurch earthquakes. Indeed, value sales of retailing increased by 5% during 2013, exhibiting faster growth than the 3% seen in 2012. Furthermore, outlet growth was positive in 2013 with the number of stores increasing by less than 1%. This is compared with the 1% decline seen during 2012. Improving economic indicators, such as the unemployment rate, GDP growth and the inflation rate, prompted a boost in both consumer and business confidence during 2013. This in turn had a positive effect on retailing in New Zealand during 2013.
Mobile technology boosts internet retailing
Internet retailing was in full swing during 2013 with numerous store-based retailers establishing websites. Moreover, pure play e-tailers continued to ramp up their presence within New Zealand to capitalise on growing interest in this channel. The increase of smartphone and tablet usage within New Zealand during 2013 was of particular importance, with mobile internet retailing driving growth within the wider category of internet retailing. The move towards online sales has been further characterised by a move to mobile devices, with many internet retailers introducing mobile apps and websites during 2013. Consequently, smartphone and tablet technology, as well as mobile network technology (the move from 3G to 4G), has had a positive effect on internet retailing during 2013 in New Zealand.
New alcohol legislation comes into force in 2013
Convenience stores have been negatively impacted by the newly enacted Sale and Supply of Alcohol Act. The new Act, which came into force in December 2013, prohibits the sale of alcohol within convenience stores. The impact of this new legislation has not yet been fully realised, although it is expected to have a detrimental effect on convenience stores over the forecast period. Conversely, supermarkets will benefit from this development, although this channel will also face challenges of its own with regard to the greater power given to local councils through the Act. Local councils can now enact local alcohol policies (LAP), which may hinder the sale of alcohol in supermarkets over the forecast period.
Grocery retailers remain on top
During 2013 Foodstuffs (NZ) Ltd was the leading player within retailing in New Zealand in GBO terms. Woolworths ranked second. Both companies managed to maintain their positions over the review period, ranking first and second. In GBO terms, four of the top five retailing companies in 2013 were domestic players, with the Warehouse Group ranking third, followed by James Pascoe and Mitre 10 Group.
Christchurch rebuild to propel forecast retail growth
The Christchurch rebuild is expected to begin in earnest during 2014, with construction activity driving retailing growth both in Christchurch and throughout New Zealand. As a result, value sales for retailing are expected to increase by a constant value CAGR of 2% over the forecast period. This is compared with the 1% constant value CAGR witnessed over the review period.
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The Retailing in New Zealand market research report includes:
- Analysis of key supply-side and demand trends
- Detailed segmentation of international and local products
- Historic number of stores, selling space and values, company and brand market shares
- Five year forecasts of market trends and market growth
- Robust and transparent market research methodology, conducted in-country
Our market research reports answer questions such as:
- How big is the grocery/non-grocery/non-store channel in New Zealand?
- Who are the leading retailers in New Zealand?
- How is retailing performing in New Zealand?
- What is the retailing environment like in New Zealand?
- Which channels are winning or losing in the fight for consumers’ money?
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- Inform your marketing, brand, strategy and market development, sales and supply functions
This industry report originates from Passport, our Retailing market research database.