Author: Ruchi Singla

Retail NZ’s Q3 2024 Retail Radar report highlights a marked increase in retailer confidence, with 65% of respondents expressing confidence or strong confidence in their business’s survival over the next year. This reflects an improvement from 58% in the previous quarter and 57% during the same period in 2023.Retailers show cautious optimism for Q4, with 57% expecting to meet or exceed sales targets, up from 32% in the previous survey. Despite this, 70% of respondents indicated that Q3 targets were not met, reflecti ongoing challenges in the sector.Economic Climate Boosts OptimismRising confidence aligns with economic shifts, including annual inflation falling…

A recent facial recognition technology trial conducted by Foodstuffs North Island across 25 New World and PAK’nSAVE stores has indicated a reduction in retail crime. The six-month trial, which ended earlier this month, recorded a decrease in harmful incidents and an 8% drop in crime over the last quarter. Retail NZ, which has supported the trial, believes this technology could have broader applications for other retail sectors, including jewellers.Key Findings from the TrialDuring the trial, the facial recognition system generated 1,747 alerts, with only one case of misidentification. This level of accuracy is significant for jewellery stores, where customer interactions are often…

The Reserve Bank has reduced the Official Cash Rate (OCR) by 0.25%, bringing it to 5.25%.This marks the first reduction after eight consecutive meetings where the rate remained unchanged. The move comes as unemployment rises and inflation shows signs of decline, leading economists to expect an easing of monetary policy.Impact on RetailersRetail NZ has released a statement acknowledging the decision and its potential to ease financial pressures for retailers. According to Retail NZ’s latest Retail Radar Survey, 71% of members did not meet their sales targets in the last quarter, while 42% expressed concerns about their ability to continue trading over…

An attempted robbery at Sona Sansaar, a family-owned jewellery store in Mount Roskill, was foiled this afternoon when assailants were unable to breach the store’s reinforced glass and security measures. The incident, which involved a security guard being assaulted, underscores ongoing security challenges for NZ jewellers.Details of the IncidentA group of four to five armed offenders targeted the jewellery store on Stoddard Road shortly after 4 p.m., as reported by a police spokeswoman. The attackers, wielding weapons but not firearms, assaulted the store’s security guard with a hammer. Fortunately, the staff inside the store quickly activated a security grille, preventing the robbers…

Michael Hill International Limited (ASX/NZX: MHJ) has released its financial results for the 52-week period ending 30 June 2024. The company faced challenging retail conditions influenced by broader economic factors, particularly affecting the fine jewellery sector. Despite these hurdles, Michael Hill reported positive sales momentum across all markets in the latter part of the fiscal year.New Zealand Market PerformanceIn New Zealand, segment revenue declined by 11.8% compared to the previous year, with a 12% decrease in the second half of the fiscal year. The number of stores in New Zealand decreased from 46 to 44 by the end of FY24.Overall…

An Auckland jewellery store, Onehunga Jewellers, was the site of a violent robbery as the business was in the process of closing down due to previous criminal activities. The store was attacked by two teenagers, aged 15 and 17, who used hammers to smash display cabinets, leaving glass shards scattered across the store. The store owner, who chose to remain anonymous, reported being severely shaken by the event, which occurred amidst a closing-down sale prompted by multiple prior attacks, including a car crashing through the store window.Details of the RobberyThe robbery led to a significant amount of jewellery being stolen. Auckland…

Pooja Jewellers in Papatoetoe, Auckland, has reopened after a violent robbery in June left its owner, Gurdeep Singh, hospitalised. During the robbery, Singh was struck in the head with a hammer by a group of offenders while his family sought refuge at the back of the store. Singh’s son intervened, chasing the perpetrators away with a sword. Following the attack, Singh has been recovering both physically and emotionally.Owner’s Recovery and ReflectionsSingh has shared his ongoing struggles in the aftermath of the incident. “Physically, I’m much better – feeling good,” Singh noted. Despite physical improvements, he continues to experience headaches and a…

Retail NZ has expressed its approval of the newly established Ministerial Advisory Group for victims of retail crime. This initiative aims to expand upon ongoing efforts to address the increasing rates of retail crime in New Zealand.Retail Crime StatisticsRetail crime has become a significant issue, with over 92% of retailers in New Zealand affected. According to a Retail NZ Crime Report published in October 2023, the annual cost of retail crime to its members exceeds $2.6 billion. Woolworths New Zealand recently reported a 9% increase in acts of violence and aggression in its stores over the past year, including a…

Police have made additional arrests in connection to the violent robbery at Pooja Jewellers on Kolmar Road in Auckland, which occurred on 23 June. The latest apprehensions include a 16-year-old male, bringing the total number of arrests to five.Details of the ArrestsDetective Inspector Karen Bright confirmed that four search warrants were executed across Mt Roskill, Mt Albert, and Papatoetoe. “The investigation team located two persons of interest to the inquiry at separate addresses and they were taken into custody,” Bright stated. The 16-year-old male, found in Mt Roskill, faces charges of aggravated robbery and will appear in the Manukau Youth…

Retail NZ Chief Executive Carolyn Young has welcomed the recent announcements by Justice Minister Paul Goldsmith on planned changes to the criminal justice system aimed at addressing retail crime. However, she expressed concerns that the measures may not be sufficient to fully address the issue.Government Response to Retail CrimeJustice Minister Paul Goldsmith has announced tougher sentencing for serious retail crime, including a new aggravating factor for offences against sole charge workers and those whose home and business are interconnected. This change is intended to provide better protection for vulnerable retail workers.Retail Industry ConcernsCarolyn Young highlighted that while the new measures…

A jewellery store owner in Papatoetoe, Auckland, suffered severe injuries during a robbery at Pooja Jewellers on Kolmar Road around 5:45 pm on Sunday evening. According to Sunny Kaushal, chair of the Dairy and Business Owners Group, the store owner was struck in the head three times with a hammer and also sustained a knife wound to the forehead. The injured owner is currently in hospital, has received stitches, and is awaiting further medical scans but is thankfully out of danger.Details of the AttackFive armed offenders reportedly broke into the store. Kaushal mentioned that other individuals present in the store, including a…

Five individuals have been apprehended in relation to April’s high-profile armed robbery at a Michael Hill Jewellers store located in the NorthWest Shopping Centre, West Auckland. Details of the IncidentAccording to Detective Senior Sergeant Megan Goldie, the robbers were armed with hammers, an axe, and a machete. The group, clad entirely in black, swiftly executed their plan, using the tools to break into multiple glass cabinets and escape with the jewellery. Witnesses reported that the robbers used a grey Subaru SUV to flee the scene. The vehicle was later found abandoned nearby, which provided crucial leads for the police investigation.Police Response and…

Partridge Jewellers in Queenstown has recently moved to a new premises at 18 Rees Street, offering an enhanced selection of luxury jewellery and Swiss watches. This move is part of the retailer’s ongoing efforts to broaden its product range and improve customer experience.Expanded Product OfferingThe new store location boasts an extended range of luxury brands, now including OMEGA, Cartier, Breitling, Chopard, and Longines alongside existing offerings of Rolex, Tudor, and TAG Heuer. Additionally, the store has introduced jewellery from renowned houses such as Fabergé, Pasquale Bruni, and Vhernier, marking a significant expansion of its luxury product range.Design and AestheticThe design…

Michael Hill International (MHI) has revealed significant operational challenges in New Zealand, citing serious crime and macroeconomic pressures as key factors. In its latest earnings update for the 45-week period ending May 12, MHI highlighted the adverse impact on consumer behaviour and discretionary spending.Crime and Economic PressuresNew Zealand was identified emerged as the most challenging market for MHI, with rising serious retail crime events, including ram raids, severely affecting store operations. The repeated offending has led to the closure of several stores, notably the Takapuna branch. MHI also reported a decline in consumer credit approval rates in NZ, further exacerbating the…

In a significant consumer rights case that has captured widespread attention, Rogelio Villarreal, a 27-year-old doctor from Tamaulipas, Mexico, successfully purchased a pair of rose-gold, diamond-studded earrings valued at over $23,000 for just $23 due to a pricing error on Cartier’s website. This unusual transaction has spotlighted the enforcement of consumer protection laws in Mexico and their implications for international luxury retailers.Incident DetailsThe earrings, typically priced at 237,000 Mexican pesos, were mistakenly listed for 237 pesos.. Villarreal, intrigued by the drastic price difference while browsing through a social media advertisement, proceeded with the purchase. Upon realisation of the error, Cartier attempted…

A jewellery store in Newmarket, Auckland, has been robbed twice within two weeks, prompting concerns about security in the retail jewellery sector. The most recent incident occurred last night when four individuals wearing masks broke into the store and stole various items around 7:30 PM. This incident followed a similar attack on April 12, where the store was also targeted.Details of the IncidentsPolice reports indicate that the assailants last night entered the store on Broadway, took merchandise quickly, and then left the scene in a vehicle. This vehicle was later found abandoned on Mauranui Avenue, not far from the store,…

On April 18th, a Michael Hill jewellery store located within the Dress Smart Onehunga shopping complex was the target of a smash-and-grab robbery. The incident was reported to the police at approximately 2:25 PM, involving four individuals dressed in black and white. Incident OverviewEyewitness accounts and CCTV footage indicate that the suspects, dressed in black and white, were seen carrying bags and running through the mall, prompting store employees nearby to quickly close their shutters. Further footage captured shoppers exiting the mall in haste as two of the suspects escaped to a pre-arranged vehicle at the entrance.A police spokesperson noted that…

Lemuel Lyes, a UK-based Kiwi expatriate and novice metal detectorist, recently uncovered what is believed to be a 3000-year-old ring during a metal-detecting event in Cornwall. The discovery was made on February 18, after Lyes had spent several hours searching the area. This artefact has attracted the attention of UK authorities, who are now in the process of determining its legal status as ‘treasure’.Process and Legal ConsiderationsThe future of the ancient ring is currently being assessed through an official process conducted by the UK’s legal system. According to a spokesperson from the United Kingdom Department of Digital, Culture, Media and Sport,…

Michael Hill is embarking on a significant rebranding initiative, aiming to reposition itself within the high-end sector of the fine jewellery market. This strategic move comes at a time when the company has observed a decline in profit, despite an increase in sales. The rebranding effort includes a colour scheme change to green and gold, reflecting the company’s New Zealand heritage. Alongside this, Michael Hill plans to open new flagship stores, starting with a location in Melbourne, which is expected to be the first to showcase the brand’s future direction.Financial ContextThe backdrop to Michael Hill’s rebranding strategy is a financial…

Silvermoon Jewellers has announced it is entering voluntary liquidation, citing a prolonged struggle with adverse economic conditions. The announcement marks a significant moment for the jewellery retail sector in New Zealand, reflecting the broader economic pressures facing the industry.Voluntary Liquidation AnnouncementIn a heartfelt email to its customers, Silvermoon revealed its decision to liquidate, emphasizing the exhaustive efforts made to salvage the business. “After considerable reflection and exhaustive exploration of all possible avenues to sustain our operations, it has become clear that Silvermoon Jewellers must embark on a closing journey, leading to liquidation,” the message states.“Despite the diligent efforts and unwavering…

In response to a series of recent robberies, Michael Hill has taken significant steps to bolster the security of its jewellery stores across New Zealand. The company’s latest security initiative follows two recent incidents, including an armed robbery at the Silverdale Mall store and a smash-and-grab raid at the Bayfair shop in Mt Maunganui.“The offender was armed with a hammer, and left the store after the fog cannon was activated,” police states regarding the Silverdale incident and leads to the assailant’s arrest by the police around 11.20am on the Hibiscus Coast. Despite these efforts, the string of robberies over the past…