Opinion: Time for retailers to reconsider opening hours?

Rotorua is achieving "real economic growth" as outlined in the Infometrics September quarterly economic report. PHOTO/FILE

As Rotorua residents, we all feel the vibrancy, positivity and growth in our wonderful city.

Now we know this feeling is supported by tangible data - that Rotorua is achieving "real economic growth" as outlined in the Infometrics September quarterly economic report.

So, what does this information tell us? And how should business use this data?

Economic data provides key information about how the city is performing, which flows through in assisting business leaders to make key investment and/or strategic decisions.

There are a range of economic indicators, and the gross domestic product (GDP) is an important indicator as it gauges the health of our economy as it represents the total dollar value of all goods and services produced over a specific time period.

For Rotorua our GDP was up 4.1 per cent, compared to New Zealand up 3.2 per cent. This data tells us we are punching above our weight, and it is about time! Well done Rotorua! From an investment and confidence standpoint, it is a great time to reflect on your business plans and perhaps take the next step in your growth strategy.

Another key economic indicator is the traffic flow which is up 6.2 per cent, compared to New Zealand up 4.8 per cent. This is telling us more people are coming into Rotorua and from a decision standpoint, it is important we support our local government in raising awareness by building a strong business case to the central government, that Rotorua needs additional funding for important transportation infrastructure, to continue to grow the economic activity in our city.

I liken this to international visitor arrivals - the only way we can achieve increased growth in international tourism is through increasing airline seating capacity coming into New Zealand. And over the past year we have seen phenomenal growth in airline carriers coming into New Zealand.

The final economic indicator I would like to discuss is retail trade which is up 6 per cent, compared to 2.7 per cent for New Zealand. Wow, what a delightful surprise and all our retailers should be feeling very positive and buoyant about this result. However, for our city to continue to grow in the retail sector, and let's be honest a lot of the growth is happening because of tourism - we need to have an open dialogue and develop a positive strategy about the age-old conundrum - how should our retail sector respond to the buying patterns of the tourists? We all know as tourists we wander around poking and prodding in shops well into the evening which enhances our destination experience. Is it time for our retail sector to adjust opening and closing hours, while still maintaining an eight-hour day, to reflect the new way of shopping which will cater for locals and visitors?

Let's continue the positive trajectory of economic growth by actively engaging in dialogue and developing positive strategies to make our city truly great.

Allison Lawton is the interim chief executive of the Rotorua Chamber of Commerce.