The positive performance of retailing in 2018 can be attributed to the nation’s strong economy and the accompanying rise in disposable incomes. It also benefited from New Zealand’s growing population, which was a result of high net migration, especially in key regions such as Auckland, Wellington and Christchurch.
In 2018, New Zealand’s booming tourism industry also continued to be a key driver of growth in retailing. The country continued to experience strong growth in arrivals due to its positioning as a safe and unique travel destination.
Home and garden specialist retailers posted strong current value growth in store-based retailing in 2018, with growth driven by the positive performance of both home improvement and gardening stores and homewares and home furnishing stores. Both channels benefited from rising consumer awareness, which stemmed from popular DIY reality TV shows and the growing prevalence of lifestyle influencers on social media platforms.
With New Zealand’s high internet penetration rate, many consumers have access to online retailers. Due to the wide availability of products online, consumers not only turn to online retailers to make purchases, but also as a reference when researching products and comparing prices.
Over the forecast period, retailing in New Zealand is projected to post a positive performance in current value terms. Growth will continue to be driven by population growth and rising disposable incomes.
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Discover the latest market trends and uncover sources of future market growth for the Retailing industry in New Zealand with research from Euromonitor's team of in-country analysts.
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This industry report originates from Passport, our Retailing market research database.