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


Retailers brace for Christmas rush

Press Release

5 December 2008


November spending is quiet as retailers brace for Christmas rush

Paymark-processed transactions were up 1.2 percent in the last 28 days of November versus the same month in 2007, a sharp drop in the growth rate of previous months.  In total $3.54 billion was spent across the Paymark network for the month, via 68 million card transactions.

The largest contributor to the downturn was fuel outlets, which was the result of lower petrol prices and fewer card transactions at petrol stations. Total spending remained down at furniture and appliance outlets while dollars spent at supermarkets, fresh produce stores and takeaway retailers rose again in November. 

Regions to experience fastest growth in November were South Canterbury, Gisborne and Taranaki/Taupo. Conversely the Bay of Plenty, Nelson and Auckland/Northland regions had the smallest spending increases.

The low spending figures, coupled with the fact that Christmas Day falls on a Thursday this year, suggest that shoppers may be waiting until the last minute to do their Christmas shopping.

Paymark CEO Simon Tong says; “The last time Christmas Day fell on a Thursday was in 2003 and during that period we saw a sharp spike in spending on the three week days prior to Christmas. In a typical week spending peaks over the weekend but we may see this year follow the same trend as 2003 with a last minute retail rush.”

Paymark processes three quarters of all New Zealander’s electronic transactions in store.  Last year Kiwis spent more than $4 billion through the Paymark network in the weeks before Christmas.  Paymark will be working hard to ensure these transactions are processed as smoothly and efficiently as possible.



© Scoop Media

Business Headlines | Sci-Tech Headlines


FIRST Union: Do Shareholders Realise Marsden Point Conversion Could Cost More Than Half A Billion Dollars?

FIRST Union, the union representing workers at Refining NZ, are querying whether shareholders voting on Friday on whether to convert the Marsden Point refinery to an import-only terminal realise the conversion could cost $650-700 million dollars... More>>

Civil Contractors: Massive Rebound In Civil Construction Business Confidence

New Zealand’s civil construction industry is riding a massive rebound in post-pandemic business confidence – but this may be undermined by skills shortages, which continue to be the industry’s number one challenge... More>>

Energy: Feeling Our Way Towards Hydrogen - Tina Schirr

Right now hydrogen is getting a lot of attention. Many countries are focusing on producing hydrogen for fuel, or procuring it, or planning for its future use... More>>

ASB: New Support Finder Tool Helps Connect Customers With Thousands In Government Support

ASB research alongside benefit numbers from the Ministry of Social Development shows an increased number of Kiwis are struggling financially, and many may not be aware they’re eligible for government support... More>>

Housing: New Home Consents Continue To Break Records

A record 44,299 new homes were consented in the year ended June 2021, Stats NZ said today. “The annual number of new homes consented rose again in the June 2021 year, the fourth consecutive month of rises,” construction statistics manager Michael Heslop said... More>>

Real Estate: June Home Transfers Remain High
There were 44,517 home transfers in the June 2021 quarter, the highest June quarter figure since 2016, Stats NZ said today. The number of home transfers was very similar to the March 2021 quarter and was up 18,252 from the June 2020 quarter... More>>