Kiwi retailers saw sales fall 4.9 per cent year over year in June, according to Stats NZ’s Electronic Card Transactions data.

The figure follows a 1.6 per cent decline in May from the year-ago month.

“Retailers experienced tough trading conditions in 2023 so we are comparing off a low base. Further decreases in sales are eating into margins and profitability,” said Carolyn Young, CEO at Retail NZ.

“Retail NZ members are telling us that it’s tough to make sales and customers are spending less. At the same time, retailers’ costs are rising with increases in wages, insurance, freight and other business expenses.”

Retail NZ said that more than 70 per cent of respondents to a survey of retailer members did not reach their sales targets for the April to June quarter.

Earlier, Retail NZ said that retail crime is affecting more than 92 per cent of retailers in the country, costing them approximately $2.6 billion a year.

Young said crime puts both retail staff and the public at risk and threatens the financial sustainability of retail businesses.