Physical retail stores in New Zealand capture more than 90% of all retail sales, and spending continues to edge up on an annual basis. This provides a supportive base and positive outlook for retail real estate in New Zealand.
In the year to June 2019, approximately $95 billion of retail trade in ‘bricks and mortar’ properties took place. This is up almost 4% compared to the previous year. The biggest winners were in non-discretionary sectors, with consumers more selective in their discretionary spend, an ongoing trend over the past decade.