The Covid 19 epidemic has had a big effect on the New Zealand and worldwide economy with many businesses struggling to survive with an economy that does not have the confidence to continue spending. There has been a huge amount of job losses world wide and recovery seems to be stalled and dependent on the development of a vaccine.

In New Zealand the retail sector is experiencing a divided experience with some retailers going strong and others not faring as well.  The two speed retail sector in New Zealand is expected to shed at least 6000 jobs over the next few months as reported by Retail NZ.

Retail NZ conducted a survey of retailers and 57% of them responded that they were experiencing better business during June 2020 than they did during June 2019. Unfortunately 28% of retailers reported that they were actually doing worse than they were during the same time the previous year.

When looking at the percentage of improvement, businesses that performed better than last year recorded and increase of 15.8% and for those on the other side of the spectrum, business dropped 17.6%. Unfortunately for analysts, it has not been a clear

Online stores have been faring well. Stores like Hallenstein Brothers have had a strong online sales boost whilst people were in lockdown. Use a Hallensteins promo code for your purchase.