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Steady retail spending growth in Hastings district


Retail spending in the Hastings district continues to climb, with $76 million spent in the area over the three months to the end of June this year.

The district’s spending first topped the $70 million mark in the same period last year, the first time this had happened outside of the Christmas shopping period.

The momentum, as recorded in the latest MarketView report, is showing no signs of slowing with this past quarter’s result representing a 6.2 per cent increase on last year, and a $4m increase on the spending that was recorded over the three months to March this year.

This compares to a national growth spending rate of 3.3 per cent in the same period.

The fastest growing storetype in the district across locals and visitors was fuel retailers, followed by department and electrical/appliance stores.

In terms of local spenders, the highest proportion of Hastings district spending and transactions was at department stores.

In Havelock North, spending grew by 7.2 per cent on the same time last year reaching $34 million in this June quarter.

The most significant growth in retail spending in Havelock North was seen in the recreational category (up 39 per cent on the same time last year) followed by apparel (up 37 per cent).

In terms of local shoppers only, the most spending was on fuel and the most transactions were for food and beverage services.

In both Hastings and Havelock North the highest spending week over the three months was recorded over Easter in the last week of April.

Hastings district councillor and economic development, growth management and urban development portfolio holder Damon Harvey said the Hastings retail scene looked set to prosper.

“The Hastings Alive revitalisation project is underway, stage 1 of the Opera House precinct is nearing completion and this leads to the potential to attract new businesses as well as lift the vibrancy of the CBD.

“Havelock North has also shown sustained retail spend and also has new commercial development set to open with more people working and spending money within the CBD.”

© Scoop Media

 
 
 
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