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Speaker 1: And yet more evidence that the turnaround is on. As

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Speaker 1: Andrew mentioned a couple of moments ago, the retail numbers

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Speaker 1: look pretty good, don't they. Q three up one point

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Speaker 1: nine percent, that's four hundred and seventy two million dollars.

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Speaker 1: Electronic goods were loving them, up nine point eight percent,

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Speaker 1: motor eacles and parts up seven point two percent. Carolyn Young,

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Speaker 1: Retail New Zealand CEO, is with us. Carolyn, Good morning, Marina, Mike,

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Speaker 1: how are you very well? Indeed, do you join us

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Speaker 1: this morning with a party hatting some streamers on?

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Speaker 2: Absolutely? Look, we take any good news we can and

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Speaker 2: it's Black Friday today, so we're hoping all of your

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Speaker 2: listeners are going to get out there and get some

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Speaker 2: bargains in New Zealand shop.

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Speaker 1: What happened in Q three? Do you reckon?

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Speaker 2: Look? You know, when you think about motor vehicles, when

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Speaker 2: you look at the actual numbers versus the season adjusted,

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Speaker 2: you know motor vehicles are nine point two and electronic

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Speaker 2: goods up twenty three point three. I think that you're

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Speaker 2: largely there'll be a little bit about end of government years.

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Speaker 2: So one July is the start of the new government year,

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Speaker 2: and some people with contracts may have things that have

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Speaker 2: outlined in terms of that way, and we know that

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Speaker 2: with large items they can be really lumpy. So if

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Speaker 2: leases had come up and people had to repurchase new

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Speaker 2: vehicles or any of those sorts of things, that may

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Speaker 2: well clearly obviously happened. And that's that third quarter. So

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Speaker 2: that makes a significant difference when you take those out

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Speaker 2: on everything else. But look, you've got to take anything

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Speaker 2: where you can in terms of retail at the moment.

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Speaker 1: That is the truth regionally, fourteen of sixteen regions. You

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Speaker 1: can't argue with that. That's that's broad based, isn't it.

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Speaker 2: Yeah, yeah, no, it's good. It's you know, we haven't

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Speaker 2: been able to have conversation like this for a very

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Speaker 2: long time.

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Speaker 1: And just to confirm this is this is inflation adjusted.

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Speaker 2: No, the actuals would be the actual numbers, is my understanding.

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Speaker 1: So does does that take the spin off them? Then?

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Speaker 1: In that case, have you take inflation out of these

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Speaker 1: numbers or not? I mean, is a trend we've got

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Speaker 1: a trend here or not? Is what I'm trying to

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Speaker 1: work out.

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Speaker 2: Well early days. But it's said, you know, the whole

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Speaker 2: Green Shoots conversation at the start of something, because if

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Speaker 2: you take out twenty three point two percent increase in

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Speaker 2: electronic goods and nine point two of motor vehicles, you

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Speaker 2: know it's mixed for some of the other categories where

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Speaker 2: you've still but you know, we're still looking at a

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Speaker 2: quarter where we're saying we're up. So we haven't done

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Speaker 2: that in a very long time, and you know, that

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Speaker 2: could give us a really good indication that the Reserve

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Speaker 2: Bank cuts of the official cache rate of starting starting

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Speaker 2: to have an impact for consumers.

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Speaker 1: And so this is Q three. What's your vibe on

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Speaker 1: where we're right now?

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Speaker 2: In Q four in terms of discretionory spend, the retailers

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Speaker 2: and those categories are still saying it's a bit mixed.

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Speaker 2: They're really needing more. Look, we've had some news from

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Speaker 2: some of the bigger retailers about some challenges that they're facing,

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Speaker 2: and this next four weeks are critical. So you know,

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Speaker 2: if we can see an uplift and snmptis and especially

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Speaker 2: after the official cash rate change on Wednesday, then you

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Speaker 2: know that will set us up potentially for a stronger

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Speaker 2: twenty twenty six.

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Speaker 1: Well, let us hope. So Carolyn, always good to have

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Speaker 1: you on the program. Appreciate it. Carolyn Young, who's the

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Speaker 1: retail in New Zealand, See, it's this traffic. I just

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Speaker 1: cannot work out the traffic. I'm assuming it's Black Friday esque.

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Speaker 1: Somebody suggested to me it's a whole lot of people

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Speaker 1: hanging around in Auckland from the Metallica constant. They can't

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Speaker 1: work out how to get home. I don't know that

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Speaker 1: that part's true, but something, something's going on and around

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Speaker 1: the rest of the country. Let me know there's a

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Speaker 1: frescon about the place and whether you're feeling that at

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Speaker 1: the moment or not. For more from the Mic Asking Breakfast,

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Speaker 1: listen live to news talks. It'd be from six am weekdays,

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