Newmarket: Economic Struggles Impacting Retail Scene
07:00
In the newmarket area of New Zealand's South Island, economic challenges have led to significant impacts on the retail sector. With nearly 20 stores vacant or for rent on Broadway's main streets and the Twenty-Seven Names store now closed, the vibe has become quite dull. The Rialto cinema, once a busy shopping hub, is struggling with an empty food court and some underground shops have also vacated. Despite the tough economic times, local shop owners like Grant Elliott acknowledge that customer decline, changing spending habits, and high rental costs are major issues. They highlight the landlord's role in covering maintenance expenses, which has left many buildings abandoned. Residents confirm the trend of fewer stores and a cold atmosphere, with more people turning to online shopping. However, Elliott remains optimistic about the future, emphasizing the need for collaboration between the government, landlords, and local businesses to revitalize Newmarket as a thriving shopping district.