Consumer Spending Intentions Firm

BNZ-Nine Rewards Consumer Trends Survey

Consumer Spending Intentions Firm

A full pdf copy of the BNZ-Nine Rewards Consumer Trends Survey is attached and also loaded here.
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Our monthly survey of NZ consumers has found a strong jump in the net proportion planning to raise their spending in the coming month to a net 19% from 8% in October. This bodes well for retailers heading into the peak Christmas shopping period. There is also a slow but upward movement in the proportion of people planning to spend more on furniture and appliances, perhaps associated with rising house construction.

In spite of the loan to value rules coming into play one month ago the gross percent of respondents thinking about buying an investment property has risen to 6.1% from 4.2%. The change is greatest for those aged 30-34 with a rise to a net 14% thinking about a purchase from 2% in October. 

This month we included a special question regarding how people feel about the new minimum deposit requirements imposed by the Reserve Bank. A net 15% of people oppose the new rules. That is, of the 524 responses, 164 said they support the rules, 242 opposed them, and 118 were indifferent or had no view.

The age breakdown of the respondents shows that there is only one group of people who show majority support for the rules – those aged 65 years and older. The biggest opponents are people aged 25 – 29 followed by those aged 35 – 39.

The survey is made possible by Nine Rewards, an online market research panel of over 70,000 people in New Zealand. www.ninerewards.co.nz

BNZNine_Rewards_November_2013.pdf

ENDS

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