Most retailers failed to meet their sales targets during the first quarter of the year, and more than a third were uncertain if their businesses would survive the next 12 months.
The latest Retail Radar report shows that almost half of New Zealand retailers failed to meet their sales targets in Q3.
The retail sector was hit by the resurgence of Covid-19 and lockdown in Auckland, which caused sales to fall in August and September.
A survey conducted by PricewaterhouseCoopers revealed that almost half of retailers expected sales to fall in the run-up to Christmas. Many of them were also not sure if they would be able to survive another year.
Due to government lockdowns and changes in the alert level, many retailers have experienced a significant impact on their operations.
Many businesses are complaining about a change in rules that limit what they can sell on level 4. This is leaving them hurting and unable to offer their usual services.
Retailers were facing various issues such as a lack of stock and the ability to make rent payments, said Michael Jacobson, head of retail at PricewaterhouseCoopers.
Almost half of retailers expect to raise their prices in the next quarter.
Retailers wanted the Government to pay them a financial payment for their rent, according to a survey conducted by PricewaterhouseCoopers.
According to Retail Radar, the number of retailers who are satisfied with the government’s handling of Covid-19 has plummeted.
Almost 70 per cent of retailers were dissatisfied or very dissatisfied with the government’s response to the Covid-19 report, according to a survey conducted by PricewaterhouseCoopers.
Retail NZ asked for measures to help retailers in the next few months, such as establishing a clear date for the Auckland road map, issuing saliva testing for Covid-19 and relieving rent relief.
The motion also called for a halt to measures that would increase costs, such as the minimum wage and a moratorium on further increases.
Stores like Glassons have continued to perform well with strong sales during Covid. If you’re looking to save on the Glassons Sale, use a Glassons coupon with your purchase.