RESEARCH

Heart of the City have commissioned a quarterly CBD Consumer Retail Expenditure Report to track trends and assist you with monitoring the performance of your business in the CBD. Based on BNZ consumer debit card spending data (eftpos and credit cards), the reports are received in January, April, July and September.

Executive Summary

Despite a challenging year with the Queen Street upgrade works and increased competition (Sylvia Park and Albany malls opened in 2007), total consumer spending in the CBD appears to be on the come-back. The Oct - Dec quarter reported a positive result over the same period in 2006. This is the first positive result in the last 3 quarters of reporting.

The future looks bright as the street upgrade nears completion with new wider footpaths, nikau palms and designer street furniture. Also a number of new stores are due to open in 2008.

Highlights for the October - December 2007 Quarter

Consumer spending up on same period last year
Share of wallet compared to neighbouring retail precincts grew on same period last year.
Strongest performing categories were recorded music, accommodation, supermarket and grocery store retailing and takeaway food retailing.
Not all retail categories reported an increase on prior year.

If you would like more information, please call Heart of the City on (09) 379 8000 during office hours.

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Disclaimer. While every effort has been made in the production of this report, Heart of the City and Market View and Bank of New Zealand are not responsible for the results of any actions taken on the basis of the information in this report and expressly desclaim any liability to any person for anything done or omitted to be done by any such person in reliance on the contents of this report and any losses suffered by any person whether direct or indirect, including loss of profits.