Lift in consumer confidence good news for retailers – Retail NZ

Retailers are hoping that a lift in consumer confidence will translate to sales for the struggling sector, but we haven’t seen it yet, Retail NZ says.

The latest Westpac McDermott Miller Consumer Confidence Index shows consumer confidence is at its highest in more than two years.

“Although it’s clear that New Zealanders are still feeling cautious about the economic outlook, it’s encouraging to see they are starting to feel more confident about spending,” Retail NZ chief executive Carolyn Young says.

“Retail NZ members are telling us that it’s tough to make sales and customers are generally spending less. Overall, retailers are expecting 2024 will be challenging so we hope this increase in consumer confidence will see people willing to spend a little more when they go shopping.”