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Christmas spend up on last year - great news

Newmarket Business Association
Media release
Tuesday 22 December 2009

Christmas spend up on last year - great news

"We always thought volumes would be up, but to see the value of transactions up 6.2% on last year is great news. Christmas may be fashionably late this year, but nonetheless it has officially arrived," says Cameron Brewer, chief executive of the Newmarket Business Association, commenting on Paymark's latest pre-Christmas nationwide retail figures.

"What it shows is that consumer confidence has markedly improved since last year. People realise that the sky hasn't fallen in, unemployment has remained relatively low, and economic forecasts are improving. Retail relies so much on the feel-good factor. It's easier for people to part with their money when they know their economic prospects are getting better not worse.

"The worry is many people have still to do their shopping, so it's lining up to be a huge Christmas Eve. However it's important people don't leave it too late as most shops and malls close at 6pm on Christmas Eve," says Cameron Brewer

ENDS

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