Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


Christmas spending strong with three shopping days to go

Christmas spending strong with three full shopping days to go

As the final Christmas shopping weekend approaches, Paymark figures released today show a positive return for retailers in the 21 days ending the 20th of December, with a 4.7 per cent year-on-year spending increase.

Paymark, which processes about 75 per cent of all electronic transactions in New Zealand, saw just over $3.2 billion through its network between 30 November and 20 December – $148.7 million more than the same period last year.

Paymark CEO, Simon Tong says the results should be welcome news for retailers as they begin their final push for the last three full shopping days before Christmas.

”It’s heartening to see the annual year-on-year growth rate building through December and climbing above the average for the year which was around 3 per cent.

”During the last seven days spending was up 5.8 per cent. This makes it one of the highest spending weeks of the year and yesterday we broke through four million transactions in one day for only the sixth time in our history.”

Many regions throughout the country have also shown particularly strong growth throughout December to date. Back at the top of the list is Canterbury, up 6.4 per cent or $22.8 million year-on-year. Auckland/Northland (+5.2%), Hawkes Bay (+5.3%) and Wairarapa (+5.4%) have also had a strong few weeks, with Auckland/Northland retailers seeing an extra $65.9 million through their tills compared to 2011.

It appears Kiwis are still hard at work on their homes this Christmas, with floor covering and furniture stores reporting spending growth of 20.6 per cent year-on-year and garden stores and hardware/building supply stores up 10.1 per cent and 10.3 per cent respectively.

Many Kiwis may also need to loosen their belt notches this Christmas as food and liquor retailers reaped the benefits of the party season. Restaurants bars and cafes were up 7.3 per cent year-on-year as well as takeaway shops (+6.5%) and liquor retailers (+11.5%).

Please visit http://www.paymarkmediaroom.co.nz/christmas-spending-strong-with-three-full-shopping-days-to-go.html for the latest figures from Paymark

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

BusinessDesk: SkyCity Lifts Minimum Convention Centre Investment To $430M

SkyCity Entertainment Group, the casino operator, has lifted the minimum it will invest in the Auckland International Convention Centre to $430 million and said total costs including land may be $450 million to $470 million. More>>

Statistics: Drop In Dairy Prices Leads Fall In Exports

Total goods exports fell $240 million (5.5 percent) to $4.2 billion in April 2015 compared with April 2014, Statistics New Zealand said today. More>>

BusinessDesk: APN's NZME Sees Future In Paywalls, Growth In Digital Sales

APN News & Media has touted a single newsroom concept for its NZME unit in New Zealand, similar to what Germany's Die Welt uses, saying an 'integrated sales proposition' is helping it win market share, including ... More>>

Labour Party: Global Milk Prices Now Lowest In 6 Years

The latest fall in the global dairy price has brought it to the lowest level in six years and shows there must be meaningful action in tomorrow’s Budget to diversify the economy, says Labour’s Finance spokesperson Grant Robertson. “Dairy prices ... More>>

BusinessDesk: NZ Inflation Expectations Creep Higher In June Survey

May 19 (BusinessDesk) - New Zealand businesses lifted their expectations for inflation over the next two years, sapping any immediate pressure on the Reserve Bank to cut interest rates, and prompting the kiwi dollar to jump higher. More>>

BusinessDesk: Lower Fuel Costs Drive Down NZ Producer Input, Output Prices

May 19 - Producer input and output prices fell in the first quarter, mainly reflecting lower fuel costs and weakness in prices of meat and dairy products. More>>


Media: Fairfax Media NZ Announces Senior Editorial Team

Fairfax Media New Zealand has today confirmed its new editorial leadership team, as part of a transformation of its newsrooms aimed at enhancing local and national journalism across digital and print. More>>

Science: Flavonoids Reduce Cold And Cough Risk

Flavonoids reduce cold and cough risk Research from the University of Auckland shows eating flavonoids – found in green tea, apples, blueberries, cocoa, red wine and onions – can significantly reduce the risk of catching colds and coughs. The research, ... More>>

BusinessDesk: RBNZ House Alert Speech The Catalyst For Government Action

Prime Minister John Key all but conceded that pressure from the Reserve Bank of New Zealand for concerted action on rampant Auckland house prices was one of the main catalysts for the government's weekend announcements about tightly ... More>>

BusinessDesk: How To Fall Foul Of The New Housing Tax Rules: Tips From IRD

Just because you rented out your investment property doesn't absolve you from paying tax, says the Inland Revenue Department in a summary of commonly made mistakes by non-professional property investors when it comes to their tax liability.More>>

Legal: Superdiversity Law, Policy And Business Stocktake Announced

Mai Chen, Managing Partner at Chen Palmer New Zealand Public and Employment Law Specialists and Adjunct Professor of Law at the University of Auckland, today announced the establishment ... More>>

Housing: More House Price Gains Expected

House price expectations remain high, with a net 56% of respondents expecting house prices will increase. Fears of higher interest rates are fading, consistent with the RBNZ’s signals this year. Affordability and a lack of houses for ... More>>

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news