Retail trade above expectations

Press, 28 November 1977, Page 9

Retail trade above expectations

FA Wellington Retail trade fell 3.8 per cent in the September quarter, and the Retailers’ Federation is surprised the drop was not steeper. ‘‘Sales throughout New Zealand have certainly been falling since midyear, and the decline has continued into October and November," said a federation spokesman. "I would have thought the September quarter decrease might have been greater.” Department of Statistics figures showed that after allowing for price, population, and seasonal changes, retail turnover per capita in the September 1977 quarter was 5261.75. This compared with $272.14 in the .Tune quarter, and represented a fall of 3.8 per cent. Hardest hit during the latest quarter were sellers household appliances — electrical goods, TV sets, radios, and other items. General department and

variety stores were the next hardest hit, followed by hardware, builders’ hardware, and paint merchants. Commenting on the retail trade statistics, the Minister of Trade and Industry (Mr AdamsSchneider) said that a downturn in real terms of less than 4 per cent over the year was “a satisfactory result, given current economic conditions.” The Minister said that only two of the 11 groups in the survey had had decreases in turnover, at current prices, of less than 10 per cent, compared with the quarter last year. Mr Adams-Schneider said the household appliance group was the only one to move a reduction in sales at current prices. One important factor could have been that the number of colour television sets sold in the September quarter 1977 had been 30 per cent lower than the quarter the previous year.