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


Black Friday tops Boxing Day – for now

Black Friday tops Boxing Day – for now

Monday 26 November, 2018

Black Friday is now well and truly on the New Zealand retail calendar. Spending at core non-food retail shops through the Paymark network was 54% higher than spending on the previous Friday and 20% above Black Friday last year. At $69.7 million, the spending also topped Boxing Day 2017 ($68m), although Boxing Day 2018 will likely surpass both figures. Even so, Black Friday and Boxing Day are now of the same order of magnitude – and both are growing in popularity.

Figure 1: Nationwide spending through Underlying Paymark at Core Retail shops, excluding Food/liquor and Hospitality merchants, for the Fridays on November in 2016, 2017 and 2018. Underlying spending excludes large clients moving to or from Paymark within recent years.

And it did not stop on Friday. Spending on Saturday through Paymark at the same merchants was up 15.9% on the previous Saturday and 8.3% on the same Saturday 2017. Combined spending over the two days was 14.5% higher than last year.

However these numbers do need to be kept into perspective. Both days for these merchants are still below the days before Christmas Day when spending last year peaked at over $82 million per day. And spending through these core non-food retailers was only around 29% of spending through the Paymark network over Friday and Saturday.

In total, spending through Paymark was $442.0 million over the two days, up 6.5% on last year. Spending at food and liquor stores is another large group of merchants but their spending was only up 3.1% for the two days. Likewise, annual spending growth amongst non-retail merchants was 3.1%. Fuel merchant spending through Paymark was down 3.3%. Not surprisingly, the figure show shoppers responded to the sales on offer.

Total spending through Paymark on Black Friday was $238.2 million, up 8.8% on Black Friday 2017. Spending growth was very strong amongst some of the provincial centres, including Wanganui (17.0%) and Gisborne (16.7%), although not so strong further south at South Canterbury (7.0%) and Southland (7.0%). The lowest annual growth rate on Friday was recorded in Waikato (6.3%).

PAYMARK All Cards Data Black Friday 2018 versus Black Friday 2017)
Regiontransactions millions Annual % changetransactions $millionsAnnual % change
Auckland/Northland 1.885.5%$95.8 8.1%
Waikato 0.365.5%$17.1 6.3%
BOP 0.336.5%$16.7 8.6%
Gisborne 0.057.6%$2.2 16.7%
Taranaki 0.115.9%$5.2 15.3%
Hawke's Bay 0.144.6%$7.0 14.9%
Wanganui 0.068.9%$2.5 17.0%
Palmerston North 0.155.7%$8.1 15.5%
Wairarapa 0.053.1%$2.2 9.3%
Wellington 0.497.3%$21.2 9.9%
Nelson 0.094.8%$4.6 9.8%
Marlborough 0.069.5%$3.1 15.9%
West Coast 0.039.9%$1.5 8.6%
Canterbury 0.528.3%$26.6 9.3%
South Canterbury 0.077.4%$3.8 7.0%
Otago 0.254.4%$13.1 6.5%
Southland 0.1110.8%$5.8 7.0%
New Zealand 4.776.1%$238.2 8.8%
* Underlying spending excludes large clients moving to or from Paymark within last 12 months

Figure 2: Paymark All Cards data (Black Friday 2018 versus Black Friday 2017)


© Scoop Media

Business Headlines | Sci-Tech Headlines


Tax Bill Passes, Drops: “An End To Unnecessary Secondary Tax”

“The changes mean Inland Revenue will more closely monitor the tax paid by wage and salary earners through the year. If it appears the worker is being over taxed, Inland Revenue will suggest a more suitable PAYE tax code tailored to that worker.” More>>


Ethiopian Airline Crash: Boeing 737 Max Aircraft Operations Temporarily Suspended

New Zealand’s Civil Aviation Authority has suspended the operation of Boeing 737 MAX aircraft to or from New Zealand. Currently this affects only one operator, Fiji Airways. There are no other airlines that fly this aircraft type to New Zealand. More>>


Sorting Out DNA: Crime-Busting Software Wins Top Science Prize

Software developed in New Zealand that has contributed to identifying suspects in tens of thousands of criminal cases around the world has won the 2018 Prime Minister’s $500,000 Science Prize. More>>


In The High Court: IRD Wins Tax Avoidance Case

Inland Revenue has won a High Court case against Eric Watson’s Cullen Group over a nearly $52 million tax debt. More>>


Insurers Withdraw From Market: Plea For EQC Rethink

A consumer watchdog wants the government to rethink the Earthquake Commission (EQC) as more people are pushed out of getting property and contents insurance. More>>


Women's Day: New Zealand Rated Third Best In OECD For Working Women

New Zealand has been rated among the top countries in the world for working women. The Women in Work Index rated New Zealand third in the OECD and it was the only country outside Europe to make the top 10. More>>