Consumer confidence falls to its lowest level since 2023 | Ryan Bridge TODAY
Consumer confidence falls to its lowest level since 2023 | Ryan Bridge TODAY
NZ Herald ·
Consumer confidence falls to its lowest level since 2023 | Ryan Bridge TODAY
<!--mynz:youtube-chapters-->
{"v":1,"chapters":[{"timeSeconds":0,"label":"Consumer confidence hits lowest level","summary":"Consumer confidence in New Zealand has fallen to its lowest point since the first quarter of 2023. This is attributed to factors including high inflation and the war in Ukraine."},{"timeSeconds":16,"label":"Confidence drops significantly","summary":"The Westpac 2026 Confidence Survey shows a significant drop in consumer confidence. The index fell from 94.7 in the March quarter to 80.4 in the June quarter."},{"timeSeconds":37,"label":"Expert discusses consumer sentiment","summary":"Carolyn Young, Chief Executive of Retail NZ, discusses the current consumer sentiment and its impact on shops across the country."},{"timeSeconds":50,"label":"Retailers face challenging months","summary":"Young states that April and May were difficult months for retailers. Consumers pulled back on discretionary spending, prioritizing essential expenses like groceries, fuel, and electricity."},{"timeSeconds":108,"label":"Consumers prioritize essentials","summary":"Consumers are focusing on essential spending such as groceries, fuel, and electricity, and are cutting back on discretionary purchases."},{"timeSeconds":127,"label":"Concerns about overall financial picture","summary":"Consumers are increasingly concerned about their overall financial situation, leading them to question whether they can afford non-essential purchases like dining out or school expenses."},{"timeSeconds":143,"label":"Positive signs in the market","summary":"Despite the downturn, there are some positive signs, such as falling fuel prices and freight costs, which may lead to more optimistic consumer spending in the near future."},{"timeSeconds":203,"label":"Gift card law changes discussed","summary":"The conversation shifts to changes in gift card legislation, specifically the requirement for businesses to honor gift cards for three years. This change has created complexities for retailers."}]}
<!--/mynz:youtube-chapters-->
