Hastings’ retail spend keeps rising

Retail spending in Hastings continues to grow – outstripping national growth by almost two per cent.

The latest MarketView quarterly report showed that consumer spending in Hastings reached $318.9 million, up 5.6 per cent on the same quarter last year – nearly two percentage points above the national average of 3.8 per cent. Hastings central city and Havelock North both experienced a five per cent growth in spending.

The highest proportion of growth, 84.3 per cent, came from international visitors, signalling an increase in tourists choosing to spend time in Hastings.

Hastings’ growth has been consistent. Over the past 12 months, spending has outpaced the national average by nearly three percentage points – 5.5 per cent compared to the nation’s 2.8 per cent.   Over the last four years, consumer spending in Hastings has grown on average 6.2 per cent.

Hastings mayor Sandra Hazlehurst said the results confirmed that the Hastings economy was performing well.

“This extended growth period, in which we have outperformed the national average for the past 12 months is very good news on a number of fronts. As well as boding well for retailers, it is confirmation that our economy is in good shape.

“We have a great cross section of businesses in our district, catering to the diverse needs of our residents, our international visitors and our local friends from the wider Hawke’s Bay area and the rest of New Zealand.

“It’s wonderful to see this vote of confidence, particularly by our international visitors; it shows they are choosing Hastings when making their travel plans.”

Data Source: MarketView data is derived from Worldline terminal electronic card spending and represents estimated total cardholder spending in New Zealand.

3 May 2024

Back to City Centre Revitalisation