With international travel off the cards because of the Covid-19 pandemic, some Kiwis are making the most of having a little extra cash by spending it on luxury goods.
The increased demand for everything from fast cars to designer handbags, as well as delays at the border, has left some businesses struggling to keep up.
Chief executive of Retail NZ Greg Harford said recent trends are a relief, after a slow first half of the year.
“Lots of things that are going out the door much more quickly than anyone had anticipated,” he said.
Harford said the increase in house prices and low interest rates also meant people were feeling wealthier and were willing to borrow more.
Halfdan Hansen of jeweller Jens Hansen The Ringmaker said he was surprised by the bump in sales.
“When the lockdown lifted, there was this bounce of people coming in really wanting to treat themselves,” he said.
Hansen said diamonds were particularly popular.
Peter Busfield, executive director at the NZ Marine Industry Association, said sales for power boats, jet skis and canoes were up.
“Anything that floats is in demand at the moment.”
Delays at the border were putting pressure on stock, Busfield said.
“There has been some restriction of stock coming into the country and, basically, manufacturers are now sold out until 2021.”
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