Now is the winter of discontent says Westpac as consumer confidence continues to tumble
https://westpaciq.westpac.com.au/wib...Westpac_NZ.pdf
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Now is the winter of discontent says Westpac as consumer confidence continues to tumble
https://westpaciq.westpac.com.au/wib...Westpac_NZ.pdf
That level of pessimism smells like a bottom, especially with employment still at historically all time high levels. Of course it will take the current half year period for that bottom of consumer confidence to be reflected in impacted retail sales (alongside the Omicron slump impact of course - which no doubt contributes to that consumer confidence figure), but I would guess the 2nd half of this year would look a lot healthier.
One spanner would of course be if the current downtrend in housing prices turns out to be a steep cliff rather than a gentle downslope.
(As someone who is hoping to add a property, I would selfishly prefer a huge housing crash to a gentle fall).
Weekly Update:
Attachment 13643
Some might find this interesting
Shows the growth in brand sales in NZ since pre-covid - over the 2 years from 'base' year. Reads Briscoes Homeware annual sales to Jan22 are 12.2% higher than Jan20, growth rate of 5.9% pa
Quite a variance eh between winners and losers
Make of it what you want
appreciated!
That Kmart figure is amazing, but not a surprise.
I do wonder how much of Kathmandu’s turnover was tourism based. I hadn’t even considered it, but I was chatting with an Uber driver last year and he was saying his family in Canada always insist that he bring plenty of Kathmandu jackets with him on his annual trips over as they see it as a luxury brand (which he found hilarious).
From earlier post some might be surprised at the high overall retial sales growth - for the selected sector stores growing at 10% pa
Way above average and says covid has been kind to retail
Below is a breakdown of different sectors.The top group is loosely known as durables
Good news - looks like global shipping costs are now in a clear downtrend…
Attachment 13650
Bloody heck .... consumers are down in the dumps
Chart a bit spooky
ANZ Roy Morgan Poll
https://watermarker.singletrack.io/A...Headers%3Dhost