New Zealand retailers should find ways to retain customers, as sales in the country have been growing at a faster rate than that in Australia since 2013.
As of March, a report showed that Kiwis spent more than $92 billion on retail transactions, which is 5 per cent higher than the same month in the previous year. This figure may easily increase, as the holiday season would compel more people to spend on food, presents and other expenses.
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helps retailers find the right tools and equipment for their stores. Supermarkets should consider this more than any other business, since Kiwis spent most of their money on groceries. On average, a person spends $4,100 every year.
Attractive product displays can make or break every retailer’s sales activity, whilst fully stocked aisles in a grocery store encourage customers to complete their shopping transactions there instead of finding another store.
The growing popularity of online retail shops serves as another reason brick-and-mortar stores should step up their marketing strategy. It is not enough to offer discounts and similar bargain deals since people know that most products could be bought at the same price without even having to leave their house.
Greg Harford, Retail New Zealand general manager of public affairs, advised traditional retailers to innovate and address consumer demands in a timely fashion. More people will buy products online in the next 10 years, which means competition from online retailers will only become more prominent.
Whilst New Zealand retailers are enjoying a higher pace of sales, the level of competition has become more noticeable, particularly from e-commerce businesses. If you are looking for a competitive edge, start by offering a seamless shopping experience when customers step inside your store.