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

 

Trade Plans: Prime Minister's Speech To International Business Forum

"The work to improve public services, build infrastructure, and solve social problems is possible only because we have enjoyed sustained, solid economic growth. A big reason for that is the Government’s consistent agenda of economic reform, and our determination to open up more opportunities for trade with the world." More>>

ALSO:

Media: TVNZ Flags Job Cuts To Arrest Profit Decline

Chief executive Kevin Kenrick said the changes were aimed at creating "a sustainable future video content business for TVNZ in an ever-changing media market." More>>

ALSO:

Reserve Bank: Wheeler Keeps OCR At 1.75%

Reserve Bank governor Graeme Wheeler kept the official cash rate unchanged at 1.75 percent, as expected, and reiterated his view that the benchmark rate doesn't need shifting for the foreseeable future. More>>

ALSO:

f work for Pumpkin Patch staff

Retail: Pumpkin Patch Brand, IP Sold To Catch Group

The receivers of failed children's clothing retailer Pumpkin Patch have confirmed that the company's brand and intellectual property have been sold to Australian online retailer Catch Group. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news