Christmas spending strong with three full shopping days to go

As the final Christmas shopping weekend approaches, Paymark figures released today show a positive return for retailers in the 21 days ending the 20th of December, with a 4.7 per cent year-on-year spending increase.

 

Paymark, which processes about 75 per cent of all electronic transactions in New Zealand, saw just over $3.2 billion through its network between 30 November and 20 December – $148.7 million more than the same period last year.

 

Paymark CEO, Simon Tong says the results should be welcome news for retailers as they begin their final push for the last three full shopping days before Christmas.

 

”It’s heartening to see the annual year-on-year growth rate building through December and climbing above the average for the year which was around 3 per cent.

 

”During the last seven days spending was up 5.8 per cent. This makes it one of the highest spending weeks of the year and yesterday we broke through four million transactions in one day for only the sixth time in our history.”

 

Many regions throughout the country have also shown particularly strong growth throughout December to date. Back at the top of the list is Canterbury, up 6.4 per cent or $22.8 million year-on-year. Auckland/Northland (+5.2%), Hawkes Bay (+5.3%) and Wairarapa (+5.4%) have also had a strong few weeks, with Auckland/Northland retailers seeing an extra $65.9 million through their tills compared to 2011.

 

It appears Kiwis are still hard at work on their homes this Christmas, with floor covering and furniture stores reporting spending growth of 20.6 per cent year-on-year and garden stores and hardware/building supply stores up 10.1 per cent and 10.3 per cent respectively.

 

Many Kiwis may also need to loosen their belt notches this Christmas as food and liquor retailers reaped the benefits of the party season. Restaurants bars and cafes were up 7.3 per cent year-on-year as well as takeaway shops (+6.5%) and liquor retailers (+11.5%).

 

PAYMARK Regional Data 21 days ending 20-Dec, 2012 versus 2011
Value of spending ($millions)
Region Last Year Current Year Annual Change Value Difference
Auckland/Northland $1,267.7 $1,333.6 $65.9 5.2%
Waikato $226.6 $238.4 $11.8 5.2%
BOP $201.0 $208.6 $7.6 3.8%
Gisborne $27.6 $28.6 $1.1 3.9%
Taranaki/Taupo $72.7 $74.8 $2.1 2.8%
Hawkes Bay $86.8 $91.4 $4.6 5.3%
Wanganui $31.0 $31.7 $0.7 2.3%
Palmerston North $101.0 $104.4 $3.4 3.4%
Wairarapa $28.6 $30.1 $1.6 5.4%
Wellington $320.8 $331.3 $10.5 3.3%
Nelson $62.3 $65.3 $3.0 4.8%
Marlborough $35.0 $36.7 $1.7 4.9%
West Coast $23.7 $24.0 $0.3 1.2%
Canterbury $356.6 $379.4 $22.8 6.4%
South Canterbury $55.2 $58.2 $3.0 5.4%
Otago $159.8 $167.1 $7.3 4.6%
Southland $78.8 $80.2 $1.4 1.8%
New Zealand $3,135.7 $3,284.4 $148.7 4.7%

 

PAYMARK Regional Data 21 days ending 20-Dec, 2012 versus 2011
Value of spending ($millions)
Region Last Year Current Year Annual Change Value Difference
Automotive excluding Fuel $87.3 $93.9 $6.6 7.6%
Bookshop/Video $53.5 $51.9 ($1.7) -3.1%
Clothing, Apparel & Jewellery $210.9 $216.4 $5.5 2.6%
Accommodation $59.0 $58.2 ($0.8) -1.3%
Restaurants, bars, cafes $231.3 $248.2 $16.8 7.3%
Liquor Retailing $60.1 $67.0 $6.9 11.5%
Pharmacy / Health / Beauty $220.7 $233.3 $12.6 5.7%
Domestic Appliance & Whiteware Stores $47.7 $52.3 $4.5 9.5%
Electronic/Computer/Phones $33.4 $32.6 ($0.8) -2.5%
Sporting and Camping Equipment/Cycles $45.6 $44.4 ($1.2) -2.6%
Floor Covering & Furniture $34.3 $41.4 $7.1 20.6%
Gardening Stores $15.4 $17.0 $1.6 10.1%
Hardware / Building Supplies $147.2 $162.4 $15.2 10.3%
Department $230.7 $245.8 $15.0 6.5%
Food retail / wholesale $729.3 $760.7 $31.5 4.3%
Food takeaway $79.3 $84.5 $5.2 6.5%
Transport / Travel $119.2 $109.9 ($9.3) -7.8%
NZ (including others not itemised) $3,135.7 $3,284.4 $148.7 4.7%

 

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ENDS

 

For more information or an interview with a Paymark spokesperson please contact:

Amber McEwen, Eleven PR, ph: 021 194 0429 or
Julia Rogan, Eleven PR, ph: 022 175 6982

 

About Paymark

In November 2009, Paymark honoured a significant business, retail, and economic milestone with the celebration of its 20th birthday. Since its inception in 1989 when three banks came together to form Electronic Transaction Services Limited (now known as Paymark Limited), Paymark has grown to become an integral part of New Zealand’s economic landscape with arguably the best EFTPOS system in the world.

 

Quick facts:

- By March 1990 volumes through the network exceeded 1 million transactions a month

- 1994 the company increased its computer processing power to accommodate volumes exceeding 10 million transactions a month

- 28 August 1996, Paymark makes history by installing an off-shore EFTPOS terminal at a general store, Scott Base, Antarctica

- In 1998 Paymark passed another milestone as the 1 billionth EFTPOS transaction was processed

- In February 2012, Paymark processed its 10 billionth transaction

- More than 74,000 merchants and 116,000 terminals are currently connected to the network that is now 3DES and EMV compliant. Today, the Paymark network processes over 75% of all electronic transactions in the New Zealand retail market on behalf of more than 50 card issuers and acquirers.