Photo: 123RFRetailers are looking at another tough year ahead, with a continuing drop in consumer spending and commercial activity indicated in recent data. ANZ chief economist Sharon Zollner said the latest spending data was in line with activity on the roads. Retail NZ chief executive Carolyn Young said retailers were finding it difficult to turn a profit, with razor thin profit margins. Retailers are telling us that they're still getting some foot traffic through the stores, but conversion to sale is really difficult. "It feels like it's going to be a really long 2024."

Source: Stuff March 12, 2024 21:01 UTC