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


Christmas spending still strong

December 24, 2012

Christmas spending still strong

Paymark figures released today show spending across the country last week was up 30.6 per cent on the first week of December, and up 3.4 per cent year-on-year for the 21 days ending the 23rd of December.

Simon Tong, Paymark CEO, says that the steady growth demonstrates that Kiwis have been organised with their shopping this year.

“We’re seeing a healthy finish to the Christmas period, with just over $1.3 billion through the tills last week. In the past few days we’ve seen the spending growth rate decelerate slightly to become more in line with the average growth rate over the past eleven months.

“This suggests that while spending is still up annually, many are avoiding taking the last minute shopping approach in the final days before Christmas.”

Paymark, which processes about 75 per cent of all electronic transactions in New Zealand, also saw particularly strong year-on-year growth in Canterbury and Gisborne in the week ending December 23, up 8 per cent and 6.9 per cent respectively.

Yet Auckland/Northland (+1.9%) and Wellington (-1.6%) both saw annual growth rates drop below the earlier trend, in the last week.

“Canterbury has really steamed ahead of the other regions in terms of spending growth in the lead up to Christmas. However, it appears Auckland/Northland and Wellington dropped off to some degree in the last weekend, presumably due to early travelling,” adds Tong.

PAYMARK Regional Data 21 days ending 23-Dec, 2012 versus 2011
Value of spending ($millions)
RegionLast YearCurrent YearAnnual ChangeValue Difference
Hawkes Bay$93.0$96.6$3.63.9%
Palmerston North$106.3$109.2$2.92.7%
West Coast$25.1$25.2$0.10.6%
South Canterbury$59.0$61.3$2.34.0%
New Zealand $3,324.8$3,437.0$112.33.4%

PAYMARK Regional Data week ending 23-Dec, 2012 versus 2011
Value of spending ($millions)
RegionLast YearCurrent YearAnnual ChangeValue Difference
Hawkes Bay$36.2$37.6$1.43.7%
Palmerston North$40.3$41.3$0.92.3%
West Coast$9.9$10.0$0.11.3%
South Canterbury$23.2$24.0$0.83.3%
New Zealand$1,292.8$1,325.8$33.02.6%

To download a copy of this document in word format click here

About Paymark
In November 2009, Paymark honoured a significant business, retail, and economic milestone with the celebration of its 20th birthday. Since its inception in 1989 when three banks came together to form Electronic Transaction Services Limited (now known as Paymark Limited), Paymark has grown to become an integral part of New Zealand’s economic landscape with arguably the best EFTPOS system in the world.

Quick facts:
• By March 1990 volumes through the network exceeded 1 million transactions a month
• 1994 the company increased its computer processing power to accommodate volumes exceeding 10 million transactions a month
• 28 August 1996, Paymark makes history by installing an off-shore EFTPOS terminal at a general store, Scott Base, Antarctica
• In 1998 Paymark passed another milestone as the 1 billionth EFTPOS transaction was processed
• In February 2012, Paymark processed its 10 billionth transaction
• More than 74,000 merchants and 116,000 terminals are currently connected to the network that is now 3DES and EMV compliant. Today, the Paymark network processes over 75% of all electronic transactions in the New Zealand retail market on behalf of more than 50 card issuers and acquirers.


© Scoop Media

Business Headlines | Sci-Tech Headlines


Hourly Wage Gap Grows: Gender Pay Gap Still Fixed At Fourteen Percent

“The totally unchanged pay gap is a slap in the face for women, families and the economy,” says Coalition spokesperson, Angela McLeod. Even worse, Māori and Pacific women face an outrageous pay gap of 28% and 33% when compared with the pay packets of Pākehā men. More>>


Housing: English On Housing Affordability And The Economy

"Long lead times in the planning process tend to drive prices higher in the upswing of the housing cycle. And those lead times increase the risk that eight years later, when additional supply arrives, the demand shock that spurred the additional supply has reversed. The resulting excess supply could produce a price crash..." More>>


Sweet Health: Sugary Drinks Banned From Hospitals And Health Boards

All hospitals and DHBs are expected to kick sugary drinks out of their premises. University of Auckland researcher, Dr Gerhard Sundborn who also heads public health advocacy group “FIZZ”, says he welcomes the initiative. More>>


NASA: Evidence Of Liquid Water On Today's Mars

Using an imaging spectrometer on MRO, researchers detected signatures of hydrated minerals on slopes where mysterious streaks are seen on the Red Planet. These darkish streaks appear to ebb and flow over time. More>>


Bird Brains: Robins Can Just Be Generally Clever

Research from Victoria University of Wellington has revealed that birds may possess a ‘general intelligence’ similar to humans, with some individuals able to excel in multiple cognitive tests. More>>


Psa-V: Positive Result On Whangarei Kiwifruit Orchard

Kiwifruit Vine Health (KVH) has received a Psa-V positive test result on Hort16A and male vines on a kiwifruit orchard in Whangarei. This is the first confirmed case of Psa-V on an orchard in the Whangarei region. More>>

Regional Accents: Are Microbes The Key To Geographical Differences In Wine?

A new study of six of New Zealand’s major wine-growing regions has found that differences in flavour and aroma of wine from different areas may depend more on microbes than was previously thought. More>>


Science: AgResearch To Cut Science Staff In Areas Of 'Reduced Demand'

“We are therefore consulting with our staff from today on a proposal to reduce science staff in areas of shrinking demand. Combined with recruitment planned in areas of growing demand, this would mean a net reduction of 15 scientists and 41 technicians at AgResearch in the 2015/16 year." More>>


Get More From Scoop

Search Scoop  
Powered by Vodafone
NZ independent news