NZ retail spending edged up 1.2% last month, based on Paymark data

Friday 4th December 2009

New Zealand retail spending climbed 1.2% in November from the same month of 2008, according to Paymark, which processes more than 75% of the nation’s electronic transactions at retailers.

The modest year-on-year growth suggests the pre-Christmas spending surge may repeat the pattern of previous years, when sales surged 50% in the seven days up to Christmas, Paymark said in a statement. Spending in November was 13% above the average between January and October, it said.

“There’s no doubt that 2009 has been one of the toughest years since we started processing EFTPOS transactions back in 1989,” said chief executive Simon Tong. The retail environment “remains very mixed” though there are encouraging signs of a shift in consumer spending habits, with the bias shifting from supermarkets to more discretionary outlets.

Tepid spending was most in evidence in major cities, with spending in Auckland/Northland eking out 1% growth and Wellington managing 1.1%, lagging behind the national average. Spending in Gisborne climbed 5.4% and Otago rose 3.4%.

Businesswire.co.nz

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