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

 


Kiwis flock to shops on Boxing Day, Paymark figures show

Kiwis flock to shops on Boxing Day, Paymark figures show

Dec. 27 (BusinessDesk) - New Zealanders spent 13.4 percent more on Boxing Day than they did a year ago, the first double-digit growth in sales for five years, Paymark says.

There were more than 2 million transactions and sales rose by $14.2 million to $120 million, according to Paymark, which processes 75 percent of the nation’s electronic transactions.

“The queues and traffic outside the malls around the country yesterday were anecdotal evidence of this,” said Paymark head of sales and marketing Paul Whiston.

The traditional post-Christmas spend-up caps a relatively strong year for listed retailers on the NZX, which have gained 37 percent as a group, based on the NZSE Consumer Index. Sales over the Christmas-New Year season are critical for store owners in what is typically their busiest period.

The strongest Boxing Day sales growth was in Gisborne, up 23 percent to $1.3 million, followed by an 18 percent gain to $2.8 million for Taupo/Taranaki and an 18 percent rise to $3.5 million for Palmerston North.

Sales in Auckland/Northland rose about 14 percent to $49.5 million, Canterbury sales gained 13 percent to $12.1 million and Wellington sales rose 12 percent to $10.7 million.

Sales of electronic goods such as computers and phones rose 32 percent, clothing gained 21 percent and jewellery rose 24 percent, Paymark said.

Sales at department stores rose 22 percent.

(BusinessDesk)

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Housing: Affordability Drops 14%, Driven By Auckland Prices

Housing affordability across New Zealand fell 14 percent in the year ending November 2014, with Auckland’s lack of affordability set to reach levels it hit during the height of the global financial crisis, according to the latest Massey University Home Affordability Report More>>

ALSO:

The Dry: Fonterra Drops Forecast Milk Volumes By 3.3 Percent

Fonterra Cooperative Group, the worlds largest dairy exporter, reduced its milk volume forecast for the 2014-2015 season by 3.3 per cent due to the impact of dry weather on production in recent weeks. More>>

ALSO:

Strike: Lyttelton Port Workers Vote To Escalate Dispute

Members of the Rail and Maritime Transport Union (RMTU) at Lyttelton Port today voted to escalate their industrial action. Around 200 RMTU members have been operating an overtime ban since 17 December and today they endorsed a series of full withdrawals of labour at the port. More>>

ALSO:

Scoop Business: NZ Dollar Falls To 3-Year Low As Investors Favour Greenback

The New Zealand dollar fell to its lowest in more than three years as investors sold euro and bought US dollars, weakening other currencies against the greenback. More>>

ALSO:

Scoop Business: NZ Govt Operating Deficit Smaller Than Expected

The New Zealand’s government’s operating deficit was smaller than expected in the first five months of the financial year as a clampdown on expenditure managed to offset a shortfall in the tax-take from last month’s forecast. More>>

ALSO:

0.8 Percent Annually:
NZ Inflation Falls Below RBNZ's Target

New Zealand's annual pace of inflation slowed to below the Reserve Bank's target band in the final three months of the year, giving governor Graeme Wheeler more room to keep the benchmark interest rate lower for longer.More>>

ALSO:

Get More From Scoop

 
 
Standards New Zealand

Standards New Zealand
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news