Retail sales were down in June for the first time in four months.
Statistics New Zealand says the value of spending in core retail industries, which excludes spending on cars and fuel, fell a seasonally adjusted 1.2% in June.
This follows a 1.1% increase in May.
Furniture, hardware and appliance retailing were the main contributors to the decrease.
BNZ senior economist Craig Ebert says the figures indicate retailers are being forced to heavily discount stock to attract customers.
Annual credit card transactions declined for the ninth consecutive month, with a corresponding increase in people using their own money to pay.