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

 

Genetics: New Heat Tolerant Cow Developed

Hamilton, New Zealand-based Dairy Solutionz Ltd has led an expert genetics team to develop a new dairy cow breed conditioned to thrive in lower elevation tropical climates and achieve high milk production under heat stress. More>>

Fractals: Thousands More Business Cards Needed To Build Giant Sponge

New Zealand is taking part in a global event this weekend to build a Menger Sponge using 15 million business cards but local organisers say they are thousands of business cards short. More>>

Scoop Business: NZ Net Migration Rises To Annual Record In September

New Zealand’s annual net migration rose to a record in September, beating government forecasts, as the inflow was spurred by student arrivals from India and Kiwis returning home from Australia. More>>

ALSO:

Scoop Business: Fletcher To Close Its Christchurch Insulation Plant, Cut 29 Jobs

Fletcher Building, New Zealand’s largest listed company, will close its Christchurch insulation factory, as it consolidates its Tasman Insulations operations in a “highly competitive market”. More>>

ALSO:

Scoop Business: Novartis Adds Nine New Treatments Under Pharmac Deal

Novartis New Zealand, the local unit of the global pharmaceuticals firm, has added nine new treatments in a far-ranging agreement with government drug buying agency, Pharmac. More>>

ALSO:

Crown Accounts: English Wary On Tax Take, Could Threaten Surplus

Finance Minister Bill English is warning the tax take may come in below forecast in the current financial year, as figures released today confirm it was short by nearly $1 billion in the year to June 30 and English warned of the potential impact of slumping receipts from agricultural exports. More>>

ALSO:

Auckland Outage: Power Mostly Restored Overnight

Vector wishes to advise that all but 324 customers have been restored overnight. These customers are spread throughout the network in small pockets. The main St Johns feeder was restored around midnight allowing most of the customers in all affected areas to have power this morning. More>>

ALSO:

Get More From Scoop

 
 
Standards New Zealand

Standards New Zealand

Mosh Social Media
 
More RSS  RSS
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news