Shoppers have been spending up on food and liquor in the
lead-up to Christmas, according to Paymark, which says
spending through its network during the first seven days of
December was up almost 9 per cent on the same week the year
The new figures from Paymark, which processes three quarters
of the country's electronic transactions, said spending over
its network during the first week of December was up 8.6 per
cent on the same period last year.
"Anecdotal commentary from retailers suggests the figures are
supported and Kiwi's are beginning to get out and about to
collect their Christmas supplies," said Paymark's Mark
"However, there is still a way to go before the big Christmas
rush sets in. The extra spend in the first seven days of
December on food and liquor has been noticeable this year,
suggesting people are keen to stock their cupboards for
Christmas meals and socialise with family and friends,"
"More generally, it is promising to see the higher growth
rate of late continue into the first week of the busy period.
The annual growth rate has picked up since mid-year and we
know the level of spending activity will be much higher in
December. Last year, for instance, December spending exceeded
November by 16 per cent. So to already see both a step up in
level of activity and a sustained higher growth rate is very
encouraging," he said.
Spending through Paymark's network in November was up 6.8 per
cent from the same month in 2012.
Spending at hardware stores was up 15 per cent on November
2012, while spending growth at cafe and restaurants was 11.4
Paymark recorded spending growth in all parts of the country
during November, with Marlborough posting the biggest gains
of 10.1 per cent on the same month in 2012.
Credit card use through Paymark was up 13.9 per cent on
- Hamish Fletcher, New Zealand Herald