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

 

Final Frontier: Rocket Lab And NASA Sign Commercial Space Launch Agreement

Rocket Lab has signed a Commercial Space Launch Act Agreement with the National Aeronautics and Space Administration (NASA). The agreement enables Rocket Lab to use NASA resources - including personnel, facilities and equipment - for launch and reentry efforts. More>>

ALSO:

Scoop Business: Wheeler Downplays Scope For ‘Large’ Rates Fall

Reserve Bank governor Graeme Wheeler says some market commentators are predicting further declines in interest rates that would only make sense for an economy in recession, although some easing is likely to be needed to maintain New Zealand’s economic growth. More>>

ALSO:

Ruataniwha Dam: Consent Conditions Could Mean Reduced Intensity

Legal advice sought by the Hawke’s Bay Regional Council on the Ruataniwha Dam consent conditions has confirmed that farmers who sign up to take water from the dam could be required to reduce the intensity of their farming operation to meet the catchment’s strict nitrogen limit. More>>

Health And Safety: Bill Now Sees Rules Relaxed For Small Businesses

Health and safety law reform sparked by the Pike River coalmine disaster has been reported back from the industrial relations select committee with weakened requirements on small businesses to appoint health and safety representatives and committees. More>>

ALSO:

Bearing Fruit: Annual Fruit Exports Hit $2 Billion For First Time

The value of fruit exported rose 20 percent (up $330 million) for the June 2015 year when compared with the year ended June 2014. Both higher prices and a greater quantity of exports (up 9.0 percent) contributed to the overall rise. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news