New report shows retailers being pragmatic amid struggling sales
Many retailers are not planning to hire additional workers ahead of the holiday season despite high confidence about the future, according to a new report.
Retail NZ's latest Retail Radar survey found that 64% of retailers are not planning to take on extra help this Christmas as a precaution amid a challenging environment.
Other retailers also said they are planning to invest in fresh product lines and in-store experiences, according to Retail NZ chief executive Carolyn Young.
"It's a pragmatic response to a challenging environment," Young said in a statement. "However, it will mean that university and college students will find it more difficult to get work over the summer holidays. And this will then impact the wider economy."
Retailers' hiring caution
The hiring caution comes as retailers head into a busy period with Labour Day, Black Friday, Christmas shopping, and Boxing Day sales expected to boost struggling sales.
According to the report, 62% of retailers have not met their target sales for the last six months.
But resilience remains evident, with 66% of retailers saying they are confident and very confident about the future.
Employers have been adapting by streamlining operations and being selective with stock levels, according to Retail NZ, which also encouraged consumers to support local businesses this Christmas.
