New Zealand's retail spend for the Christmas period was 2% down across the country, compared to pre-COVID (2019). Not exactly a stellar result, but higher than expected considering rising interest rates, including a record OCR rate hike of 0.75% just before Christmas. The government had also been actively talking down the economy and advising against excessive Christmas spending.
Hopefully this bodes well for sales figures from the 3 new stores in Auckland.
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