Latest / Early Edition with Ryan Bridge / Carolyn Young: Retail NZ Chief Executive on the latest quarterly Retail Radar Report

Transcript

Carolyn Young: Retail NZ Chief Executive on the latest quarterly Retail Radar Report · Early Edition with Ryan Bridge

• 0:00
  Speaker 1: Retailers want Kewy's working from the office, thank you very much,
• 0:03
  Speaker 1: not home. After the latest Retailing ZED survey have met
• 0:07
  Speaker 1: or exceeded their sales targets in quarter one, but now
• 0:10
  Speaker 1: just a third think they can do the same for
• 0:12
  Speaker 1: quarter two. This is the war, and nearly a third
• 0:15
  Speaker 1: say they're unsure if they can survive the next year.
• 0:17
  Speaker 1: Carolyn Young, Retailing Z chief executive, joins me this morning. Hey,
• 0:20
  Speaker 1: Carolyn well Er Eran, how are you doing very well?
• 0:23
  Speaker 1: Thank you. Nice to have you on the program as always.
• 0:25
  Speaker 1: How does this compare to previous surveys, you know, other
• 0:28
  Speaker 1: blips we've had on the radar.
• 0:31
  Speaker 2: Yeah, look, I guess similar in some ways, except I
• 0:34
  Speaker 2: think the one thing we know is that the biggest
• 0:37
  Speaker 2: concerns that retailers have is, you know, one is the economy,
• 0:41
  Speaker 2: and the ninety three percent ninety two point nine percent
• 0:44
  Speaker 2: have said that the broader economy is their biggest concern.
• 0:47
  Speaker 2: That's quickly followed by things like foot traffic, high street vitality,
• 0:51
  Speaker 2: and consumer demand. Now those are all things that are
• 0:55
  Speaker 2: linked to the economic crisis. Followed but that's come out
• 0:59
  Speaker 2: on the back of the mid crisis, and it's really
• 1:01
  Speaker 2: hard for retailers to influence that. If we don't have
• 1:04
  Speaker 2: people in our cities, if we don't have a vital
• 1:07
  Speaker 2: high street and there's no consumer demand, retailers will struggle
• 1:11
  Speaker 2: and businesses will close. And I think it's the sense of,
• 1:14
  Speaker 2: you know, yet another blow, but also how much it's
• 1:18
  Speaker 2: out of their hands, how little they can control how
• 1:21
  Speaker 2: well their business will do.
• 1:23
  Speaker 1: Are some areas or some types of stores doing better
• 1:26
  Speaker 1: than others. I was out on the weekend hardware store.
• 1:28
  Speaker 1: A whole bunch of stores that I went to were full,
• 1:31
  Speaker 1: But clearly there are problems elsewhere. Who's doing the best,
• 1:34
  Speaker 1: who's doing the worst.
• 1:36
  Speaker 2: Look, certainly, if you look at stores like apparel stores,
• 1:40
  Speaker 2: they've had a really rough eighteen months or so. You know,
• 1:44
  Speaker 2: they were trading down significantly in March, and last year
• 1:47
  Speaker 2: they only had two positive months out of the whole year.
• 1:50
  Speaker 2: So apparel is really struggling. The large household durables have
• 1:57
  Speaker 2: come back quite a bit, certainly electronics. You know, think
• 2:01
  Speaker 2: about laptops and stores that sell those sorts of items.
• 2:07
  Speaker 2: You know, people seem to still want to buy the
• 2:09
  Speaker 2: flash new phones and those sorts of things. People upgrading
• 2:12
  Speaker 2: laptops for the use of AI because you need more memory,
• 2:15
  Speaker 2: et cetera. They're still trading.
• 2:17
  Speaker 1: Well, Carolyn. Nice to have you on the program this morning.
• 2:20
  Speaker 1: Carolyn Young, retailings and chief executive.
• 2:23
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• 2:27
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• 2:27
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• 2:31
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