【MARKET REPORT】 NZ Retail Spending Patterns 2022

2022 was a year of change, 59% of shoppers altering their spending habits compared to 2021.
Of the shoppers surveyed, 35% reported a decrease in their overall retail-spending over the past year-13% stated they spent a lot less, while 22% indicated they spent a little less. The primary driver behind this spending reduction was the state of the economy, rising living costs, and mortgage payments.
41% reported that they spent about the same. Many individuals prioritized spending on essentials such as food and fuel and opted for more budget-friendly alternatives. For others, the emphasis shifted toward value-oriented purchases, with a willingness to invest a bit more in quality items with longer-lasting value.
Interestingly, while a significant portion of the population spent less in 2022, 12% of respondents indicated that they increased their spending a little more, and 12% said they spent a lot more. Some attributed this to a return to a "more normal" year when they could shop in physical stores, while others cited changes in personal circumstances. Additionally, some felt that they spent more simply because the cost of goods had risen. Notably, frequent online shoppers-those who made online purchases at least once a week-were the group most likely to have increased their overall retail spending in 2022