New Zealand’s independent retail revenue over the past 12 months were 22 per cent higher than the global average, according to a report from retail management software company Vend.

Vend’s “Retail Benchmarks Report”,  which compared data from over 13,000 retailers with a particular focus on Australia, New Zealand, North America and the United Kingdom, showed average NZ retail sales volumes were 17 per cent higher than Australia, and 34 per cent higher than in North America. And, monthly revenues were up 17 per cent on the global average.

Australian retailers’ average monthly revenues were 17 per cent higher than in North America and 37 per cent higher than the UK, showing a stronger spending trend for Australia’s local stores compared to these overseas markets.

Average transaction values in the country, which is the amount spent in a retail store per transaction, were the highest of all the main markets, showing a five per cent increase compared to the the global average. However sales volumes weren’t quite as strong, still up five per cent on the global average but sits 19 per cent lower than in New Zealand and 16 per cent lower than in the UK.

“It’s really positive to see New Zealand retail in such good shape compared to other key markets, even though our independent stores are under continued pressure to compete with bigger players coming into the market, as well as pure-play online,” said Dave Scheine, Vend country manager for Australia and New Zealand. “While New Zealand shoppers may not be spending quite as much as consumers elsewhere, they are clearly still choosing to shop with independent stores, which is a testament to the unique products and experiences local retailers are providing.”