Retailers are holding out hope the latest Official Cash Rate cut will spur people to open their wallets

Stats NZ data shows September's electronic card transactions - an indicator of consumer spending - is flat compared with August.

Year-on-year, spending's down 135-million-dollars, or 0.7-percent.

Retail NZ chief executive Carolyn Young says with interest rates falling, people may feel more comfortable spending on non-essentials.

She says one retailer's been reporting Covid-like sales, so they really need to see a change in consumer confidence.