Retailing in New Zealand is an important sector in the economy of New Zealand, as a channel for a large proportion of household spending and international visitor spending. The overall size of the sector has been increasing since the end of the 1997 Asian financial crisis, with retail sales increasing by 30% between 1999 and 2005. One contributing factor was the growth of larger stores with greater buying power and economies of scale, at the cost of smaller bricks and mortar merchants. Another contributing factor was low price inflation, with the price of imported goods falling 12% during that period.