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ATTRACTION OF NEW ZEALAND – MICROECONOMIC, LUXURY FASHION
Greater transparency about sustainability: New Zealand consumers are demanding greater transparency with 41% expecting retailers to be more responsible (Sylvester, 2020).
NZ retail market performing well with an average
They are using their purchasing power to shop with brands that
growth rate of 4.4% – the market not yet saturated
reflect their values and deliver responsible environmental and
(Appendix 6) (JPMorgan, 2020) . Predicted growth of
social practices (Accenture, 2020).
womenswear market by 2.3% by 2024 reaching NZD 8.1bn (Section 3.6) (GlobalData, 2020).
3.3 MICROECONOMIC ATTRACTIONS
Sustainably focused country: Aim to be the first country to be truly sustainable (Sustainable
Accelerated digitalization: Online
Business Council SBC, 2019). NZ ranked 25th in the Global
shopping grew by 14.6%in 2020
Sustainability Index, which considers a country’s environmental
despite falling income and negative
policies and actions (Mulhen, 2020)
sentiment (Covid) (IBISWorld, 2020)
• Sustainability is a concern for 87% of NZ consumers and is the 3rd most important factor after quality and price (SBC, 2019) • NZ are welcoming sustainable brands & will contribute to Net Zero carbon emissions mission (2050) (Department of
Booming economy for luxury international fashion (Babin, MD of Bulgari, 2020) (Van, 2020)
Growing middle class sociographic (40% of the country) (Rashbrooke, 2020)
International Trade, 2020)
VALS Lifestyle: (Secjon 3.4) See Appendix 5 for PESTLE See Appendix 6 for GE McKinsey Matrix
