Beef cattle numbers increased in 2021, while the number of sheep dipped slightly, according to Stats NZ.
But rising costs are forcing consumers to re-think how they spend, says IRI.
IRI’s Grocery Market Overview attributes price rises as the major driver behind February’s 5.8% increase in sales value.
Hospitality venues continue to feel the pressure of Omicron with a 10% drop in card spending last month.
Consumers are shifting from the middle ground and becoming more adventurous.
Retail card spending in New Zealand fell 19.8% in August compared with July reflecting reduced spending as the country went into lockdown mid-month, according to Stats NZ.
The value of NZ exports continues to climb hitting a new high of $6bn in June this year.
Core retail spend has been consistently above 2019 and 2020 in recent months coming in at $10.9bn in the June quarter, according to Paymark.
Did a global pandemic end Nestlé’s reign at the top of the international F&B power list?
Retail card spending was stable in November rising just 1.4% or $85m to $6.25bn.
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