Data Analysis

Every year, the final quarter (Q4) – from Labour Weekend through to year end – is the most important trading period for most retailers. Kiwi shopper habits have continued to evolve with the economic conditions of recent years, and Peak 2025 was no exception.

The first half of 2026 is showing us the early signs of a retail recovery. Online spending in the first half of 2026 was up 12% compared to the same period in 2025.

This year’s Market Sentiments report brings shopper and retailer research together into nine integrated insights. Each insight explores what’s changing, why it matters to your business, and what you can do to respond.

2025 was the year online shopping evolved from being the convenient alternative to becoming an integral part of how Kiwi shoppers buy every day.

Every year, the final quarter (Q4) - from Labour Weekend through the November sales events, to year end - is the most important period in the online retail calendar.

Our annual look at how online retailers and shoppers saw the last year and what they are expecting and prioritising in the year ahead.

Kiwis spent $1.5 billion online in the first quarter of 2025 (Q1 2025), 7% more than the year before. With a number of positive trends, there is plenty for retailers to be optimistic about, though some uncertain still prevails.

Kiwi shoppers spent over $6.09b online in 2024, 5% more than they spent online in 2023. Online grew despite tough economic conditions which saw overall retail spending down 1.7%.

Online shoppers spent $1.73 billion in Q4 2024, up 9% on Q4 2023. The quarter’s spending peak was not only higher than last year, but held up longer, adding to a strong quarterly performance.