Sharechat Logo

December retail spending rises

Monday 9th January 2012

Text too small?

New Zealanders spent about $4.6 billion on their debit and credit cards in December, up about 3.4 percent from the same month a year earlier, which bodes well for 2012, says Paymark, which processes 75 percent of the nation’s electronic transactions.

Gains were led by a 9.2 percent increase in discretionary spending, including clothing and footwear and growth in the building and home improvements sector, up 5 percent for the month, the strongest growth recorded last year.

“2011 was a tough year for retailers, with all kinds of local and global factors affecting business – it is encouraging to see a bit of positivity with higher discretionary spending in the latter part of the year,” said Ben Robinson, a Paymark spokesman. “Signs of more discretionary spending bode well for the future even if the trend is patchy across sectors and across regions at present.”

Spending growth was strongest in Palmerston North, up 7.7 percent, followed by South Canterbury on 6.5 percent, while weak annual growth rates were recorded in Canterbury on -0.9 percent and Marlborough on -0.8 percent.

Debit cards remained the dominate payment type in 2011, with 701 million transactions despite the overall growth rate slowing to 3.6 percent. Credit card’s surpassed debit card usage in December accelerating 0.7 percent from 0.2 percent in the same month of 2010.

BusinessDesk.co.nz



  General Finance Advertising    

Comments from our readers

No comments yet

Add your comment:
Your name:
Your email:
Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Related News:

The customer is always right
The modern era of globalisation is in danger
SeaDragon delisting announcement
Kiwi Property reports 2020 financial results
Plexure powers ahead with record revenue growth and profit
Metlifecare substantial shareholders support court action to enforce sia
Fonterra provides performance and milk price updates
Millions of Newly Jobless in China Pose a Looming Threat to Xi
Strong seasons set up venison industry to weather Covid-19 storm - industry analyst
Soaring Silver Attracts Investors

IRG See IRG research reports