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flag New Zealand's retail sales fall 4.25% as tourism lags and consumer confidence drops.

flag Despite a 0.3% increase in retail spending in February, New Zealand's retail sector faces challenges due to a 4.25% drop in sales compared to February 2024. flag The sector struggles with reduced tourism, which is at 80% of pre-pandemic levels, and a 20-25% decline in cruise tourism. flag Growing unemployment and decreased consumer confidence further impact retailers, who hope for a tourism boost to improve sales.

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