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Paymark confirms a Boxing Day boom for retailers

Paymark confirms a Boxing Day boom for retailers

After a strong December, Paymark figures released today delivered retailers the icing on the cake with Boxing Day spending up 13.4 per cent nationally year-on-year.

Paymark Head of Sales & Marketing, Paul Whiston, says the strong Boxing Day numbers are a fantastic finish to what has been an already positive month of spending, and a return to the kinds of growth figures seen pre-GFC.

“Yesterday we saw over two million transactions and $120 million in sales through the network, $14.2 million up on Boxing Day last year. This is the first time in five years that we’ve seen double digit growth and we’re rapt for retailers.

“It’s also great to see that some of the sectors, which have been lagging of late, experienced a real boost on Boxing Day. And the queues and traffic outside the malls around the country yesterday, were anecdotal evidence of this!”

Paymark saw significant growth in the electronics sector including computers and phones, with sales up 31.7 per cent annually.

The company, which processes about 75 per cent of all electronic transactions in New Zealand, also saw strong growth in clothing and apparel, and jewellery, up 20.7 per cent and 24.4 per cent respectively.

“Department stores saw an increase of 22.4 per cent, likely to be a reflection of the many great deals on offer for shoppers during the Boxing Day sales,” says Whiston.

Gisborne took the gold for the highest spending growth in the regions, up 22.9 per cent annually.

“All of the regions saw good growth on Boxing Day but the smaller regions in particular have faired extremely well, with Palmerston North up 18.3 per cent and Taranaki/Taupo up 18.2 per cent – just behind Gisborne,” adds Whiston.

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