HomeNEWSElectronic goods drive quarterly retail sales

Electronic goods drive quarterly retail sales

Stats NZ has recorded growth in retail spending during the first quarter of this year, primarily driven by the sales of electronic goods.

Retail sales in the first quarter increased by 2.5 percent compared to the previous quarter. Electronic goods and recreational goods had the highest increase in sales, surging 8.4 percent and 16 percent during the March quarter.

Retail Business Manager Sue Chapman says higher spending on electronics coincides with falling prices of computers and phones during the first quarter of 2021.

“Recreational and outdoor sporting goods were also top of the list for many New Zealanders over the summer holiday break.

“Many were enjoying the ability to travel around the country for camping, water or biking activities, and the opportunity to attend large events such as the America’s Cup,” she added.

According to Stats NZ, retail sales in the March quarter rose 6.5 percent year-on-year (equivalent to $1.6 billion.)

Supermarket and grocery stores had mixed results throughout the year and fell 5.2 percent compared with the peak increase of 13 per cent in the March quarter last year.

Hardware, building, and garden supplies had the highest dollar value increase, up $144 million (5.6 per cent).

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