Carolyn Young: Retail NZ CEO on card spend data dropping by 1.3% in April

Retailers are feeling the pinch, with card spending plunging across the board.  Stats NZ data reveals retail electronic card purchases dropped 1.3% last month.  Kiwis are spending more overall compared to last year, but on cheaper food and are cutting back on buying items like clothing.  Retail NZ CEO Carolyn Young told Ryan Bridge margins are being squeezed and cash flows is tight.  She says the cost of things like freight and rubbish collection are up, and retailers are bearing the brunt  LISTEN ABOVE See omnystudio.com/listener for privacy information.