Paymark confirms a Boxing Day boom for retailers
After a strong December, Paymark figures released today delivered retailers the icing on the cake with Boxing Day spending up 13.4 per cent nationally year-on-year.
Paymark Head of Sales & Marketing, Paul Whiston, says the strong Boxing Day numbers are a fantastic finish to what has been an already positive month of spending, and a return to the kinds of growth figures seen pre-GFC.
“Yesterday we saw over two million transactions and $120 million in sales through the network, $14.2 million up on Boxing Day last year. This is the first time in five years that we’ve seen double digit growth and we’re rapt for retailers.
“It’s also great to see that some of the sectors, which have been lagging of late, experienced a real boost on Boxing Day. And the queues and traffic outside the malls around the country yesterday, were anecdotal evidence of this!”
Paymark saw significant growth in the electronics sector including computers and phones, with sales up 31.7 per cent annually.
The company, which processes about 75 per cent of all electronic transactions in New Zealand, also saw strong growth in clothing and apparel, and jewellery, up 20.7 per cent and 24.4 per cent respectively.
“Department stores saw an increase of 22.4 per cent, likely to be a reflection of the many great deals on offer for shoppers during the Boxing Day sales,” says Whiston.
Gisborne took the gold for the highest spending growth in the regions, up 22.9 per cent annually.
“All of the regions saw good growth on Boxing Day but the smaller regions in particular have faired extremely well, with Palmerston North up 18.3 per cent and Taranaki/Taupo up 18.2 per cent – just behind Gisborne,” adds Whiston.
|PAYMARK Regional Data Boxing Day, 2012 versus 2011|
|Value of spending ($millions)|
|Region||Last Year||Current Year||Annual Change||Value Difference|
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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
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.
- 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.