Retail NZ says Black Friday sales were down by about 10 per cent this year.
Carolyn Young, the chief executive of the advocacy group, said the American tradition of Black Friday sales, held the day after Thanksgiving, has become increasingly important for retailers and shoppers in New Zealand over the past five years.
Young said this year, sales were trending down - without exception.
She said stores she spoke to told her this year there were plenty of shoppers out and about, but they were buying less.
“I’ve spoke to retailers across a broad range of sectors including electrical goods, household items, jewellery, fashion, right across the board, and I’ve had very similar comments from everyone,” Young said.
“So most people have seen a downturn of sales of around 10 per cent but there have been a lot of people out around the stores.”
Young said many of the large retailers started their sales earlier, which may have impacted on smaller retailers who have to compete against the lower prices.
She said retailers were not expecting a bumper day, but were pleasantly surprised at how many shoppers were around.
“I think the value in your wallet has declined between this time last year and this year,” Young said.
“Increasing interest rates have led to increased rents and mortgages for people, which means there is less money to go around for discretionary spending.
“So it’s really starting to feel the pinch into consumers’ wallets.”
Stores have been advertising sales for several weeks. Photo / Marika Khabazi, RNZ
She said she recommends people support New Zealand-based companies rather than overseas online stores as “you have a much higher level of comfort around cyber fraud and making sure what you are purchasing is what you get”.
“You are covered by New Zealand legislation and there are processes you can put in place if things go wrong.
“We just really encourage people to kickstart the New Zealand economy by continuing to shop within New Zealand.”
