Retail stock levels rise in spite of spending

Press, Volume CXIV, Issue 33693, 16 November 1974, Page 2

Retail stock levels rise in spite of spending

New Zealanders kept up their high spending on retail goods in July, August, and September, but retail stock levels (inventories) are rising at a faster rate.

Estimated retail turnover in the September quarter increased 17.0 per cent to $877.3 million, as shown in the quarterly survey released yesterday by thia Government Statistician (Mr E. A. Harris).

The figures are compared with the corresponding quarter last year. The inventories of all retail stores increased 25.4 per cent. Of the 11 store types listed, the sharpest rise in stock levels was shown by furniture and soft furnishings stores, where inventories were 53.6 per cent higher. Inventories of household appliances, electrical goods, radios and television rose 32.1 per cent, and those of general, department, and

variety stores were 30.5 per cent higher. Inventory increases for other types of stores ranged from 13.2 per cent (chemists) to 25.2 per cent. Only in one type of stores did stock levels decline: butchers, poulterers, etc, which showed a fall of 7.3 per cent. This branch of the retail trade was also the only one to have a decline in turn-over

for the quarter; sales fell 5.2 per cent. The largest increase in turnover was by the household appliances and electrical goods stores, with 49.4 per cent, followed by chemists, with a rise of 25.1 per cent.

The smallest increase was recorded by stores selling hardware, paints, and building materials, etc., 14.7 per cent. Seasonally corrected, and expressed in constant dollars of 1957-58, retail turnover for the quarter was the highest ever: 1.5 per cent higher than for the previous quarter, and 8.4 per cent up on the same period last year. Each New Zealander — man, woman and child — spent slso.32—again seasonally corrected and expressed in 1957-58 constant dollars. This was an increase of 1.4 per cent on the June quarter, and 1.0 per cent more than for the three months to Sep* tember 30, 1973.