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
Auckland/Northland$1,339.7$1,385.4$45.73.4%
Waikato$243.6$252.6$9.13.7%
BOP$215.8$221.6$5.82.7%
Gisborne$29.5$30.7$1.34.3%
Taranaki/Taupo$77.8$79.7$2.02.5%
Hawkes Bay$93.0$96.6$3.63.9%
Wanganui$33.3$33.6$0.30.9%
Palmerston North$106.3$109.2$2.92.7%
Wairarapa$30.7$31.8$1.13.7%
Wellington$339.4$343.0$3.61.1%
Nelson$66.4$68.7$2.33.5%
Marlborough$37.9$39.3$1.43.6%
West Coast$25.1$25.2$0.10.6%
Canterbury$372.1$396.6$24.56.6%
South Canterbury$59.0$61.3$2.34.0%
Otago$170.2$176.5$6.43.7%
Southland$84.7$84.5($0.2)-0.3%
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
Auckland/Northland$520.2$530.0$9.81.9%
Waikato$95.9$99.8$4.04.1%
BOP$85.2$87.9$2.73.1%
Gisborne$11.6$12.4$0.86.9%
Taranaki/Taupo$31.0$31.7$0.72.1%
Hawkes Bay$36.2$37.6$1.43.7%
Wanganui$13.2$13.4$0.21.6%
Palmerston North$40.3$41.3$0.92.3%
Wairarapa$12.0$12.3$0.32.3%
Wellington$130.7$128.6($2.1)-1.6%
Nelson$27.1$27.2$0.20.6%
Marlborough$15.1$15.6$0.53.6%
West Coast$9.9$10.0$0.11.3%
Canterbury$141.3$152.5$11.38.0%
South Canterbury$23.2$24.0$0.83.3%
Otago$66.3$68.2$1.92.8%
Southland$33.5$33.2($0.3)-0.9%
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.

ENDS

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Half Empty: Fonterra's 2017 Opening Forecast Below Expectations

Fonterra Cooperative Group raised its forecast farmgate milk payout for next season by less than expected as the world's largest dairy exporter predicts lower prices will crimp production and supply will pick up. The New Zealand dollar fell. More>>

ALSO:

Pest Control: Mouse Blitz Team Leaves For Antipodes

The Million Dollar Mouse project to rid Antipodes Island of mice is underway with the departure of a rodent eradication team to the remote nature reserve and World Heritage Area. More>>

Gongs Got: Canon Media Awards & NZ Radio Awards Happen

Radio NZ: RNZ website The Wireless, which is co-funded by NZ On Air, was named best website, while Toby Manhire and Toby Morris won the best opinion general writing section for their weekly column on rnz.co.nz and Tess McClure won the best junior feature writer section. More>>

ALSO:

Pre-Budget: Debt Focus Risks Losing Opportunity To Stoke Economy

The Treasury is likely to upgrade its forecasts for economic growth in Budget 2016 next week but Finance Minister Bill English has already signalled that more of his focus is on debt repayment than on fiscal stimulus or tax cuts... More>>

ALSO:

Fulton Hogan's Heroes: Managing Director Nick Miller Resigns

Fulton Hogan managing director Nick Miller will leave the privately owned construction company after seven years in charge. The Dunedin-based company has kicked off a search for a replacement, and Miller will stay on at the helm until March next year, or until a successor has been appointed and a transition period completed. More>>

ALSO:

Gordon Campbell: On Electricity, Executions, And Bob Dylan

The Electricity Authority has unveiled the final version of its pricing plan for electricity transmission. This will change the way transmission prices (which comprise about 10% of the average power bill) are computed, and will add hundreds of dollars a year to power bills for many ordinary consumers. More>>

ALSO:

Half Empty: Fonterra NZ, Australia Milk Collection Drops In Season

Fonterra Cooperative Group says milk collection is down in New Zealand and Australia, its two largest markets, in the first 11 months of the season during a period of weak dairy prices. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news