New Zealand Retailers Regain Confidence as Fuel Prices Ease

New Zealand retailers are showing renewed confidence in their businesses, according to the Retail Radar Q2 report by Peak body Retail NZ. The survey found that 69% of retailers are confident they can survive the next 12 months, a significant increase from the 61% who felt this way last quarter.

Concerns around fuel prices drove down confidence in Q1, but with prices having returned to normal levels, retailers are feeling more optimistic. However, high inflation and unemployment remain major concerns for businesses.

The report also highlighted a significant shift in payment options, with 47% of respondents offering Buy Now Pay Later (BNPL) services. While this option has become increasingly popular among customers, retailers have mixed views on its worthiness, with 45% saying it's beneficial and 38% disagreeing.

According to Retail NZ CEO Carolyn Young, the introduction of a cap on domestic credit card interchange fees has contributed to reduced concerns around payment fees. With the Government announcing that it will not be implementing a ban on card payment surcharges this year, retailers are breathing easier.