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Francesca Rudkin: Why are we in such a retail frenzy? · Best of Business

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  Speaker 2: So did you get yourself a bargain on Black Friday
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  Speaker 2: or some kind of good deal in the last ten
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  Speaker 2: days that may also be associated with the Black Friday.
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  Speaker 2: I've done quite a bit of Christmas shopping this weekend,
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  Speaker 2: most of it online through Kiwi retailers, and have saved
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  Speaker 2: at least the shipping costs or up to maybe twenty
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  Speaker 2: five percent savings, which you know, it all adds up.
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  Speaker 2: There have been warnings this week about being sucked into
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  Speaker 2: Black Friday and Cyber Monday sales consume In New Zealand,
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  Speaker 2: they did a three month investigation. They tracked ten products
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  Speaker 2: at four major retailers and they found that half of
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  Speaker 2: the items could have been bought at the same or
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  Speaker 2: lower prices at some point in the last three months.
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  Speaker 2: But I think we all know this Black Friday is
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  Speaker 2: a brilliantly executed marketing campaign. The reality is a lot
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  Speaker 2: of discounts or a token gesture. But if you do
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  Speaker 2: your homework and you have a bit of luck, you
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  Speaker 2: can find something you wanted for a good price. And
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  Speaker 2: I think that we approach shopping differently these days, driven
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  Speaker 2: by the fact a lot of the big retailers have
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  Speaker 2: sales all the time. If we look at the main
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  Speaker 2: sales at this time of the year, people go shopping
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  Speaker 2: at Labor Weekend, Black Friday, Cyber Monday, and hey, look,
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  Speaker 2: if you've missed out boxing days on you about four
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  Speaker 2: weeks away, So you'd be an idiot to buy something
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  Speaker 2: when it wasn't on sale. But hopefully all the spending
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  Speaker 2: will still be giving retailers the lift they need. This week,
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  Speaker 2: there was a little bit of good news from Stats
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  Speaker 2: New Zealand with data showing that the total volume of
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  Speaker 2: sales increased one point nine percent in the September quarter
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  Speaker 2: compared to the June twenty twenty five quarter, and this
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  Speaker 2: is the largest quarterly increase in activity since December twenty
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  Speaker 2: twenty one. Last year, Payment provided data showed that more
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  Speaker 2: than one hundred and seventy five million was spent at
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  Speaker 2: core merchant merchants during Black Friday weekend and it's going
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  Speaker 2: to be really interesting to see what the figure is
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  Speaker 2: this year. In retail, I think this sort of seems
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  Speaker 2: to be a little bit of a frenzy round retail
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  Speaker 2: at the moment. Look at the anticipation around I Care
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  Speaker 2: opening in Auckland's Mount Wellington this week on December fourth.
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  Speaker 2: Good on at for warning shoppers there could potentially be
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  Speaker 2: forty minute delays to get off the motorway and then
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  Speaker 2: it may take an hour to sign a car park.
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  Speaker 2: You were warned. You may think it's unnecessary, but we
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  Speaker 2: all know what it's like when we when we hit
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  Speaker 2: that traffic on the motorway and we stop. Look, I
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  Speaker 2: know it's exciting I Care opening. I have a kid
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  Speaker 2: going flatting next year. I wouldn't be surprised if we
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  Speaker 2: end up buying a flat pack of some sort. But
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  Speaker 2: I Care is not going anywhere. Do yourself a favor
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  Speaker 2: and give it some time before you descend on the
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  Speaker 2: Swedish Giant, or better still, shop at some of our
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  Speaker 2: very own Kiwi excellent flat pack furniture stores. But look,
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  Speaker 2: if you're less patient than me and you're prepared to
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  Speaker 2: deal with the traffic, best of luck out there.
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