PAYMARK: STRONG START TO XMAS SPENDING

By Wares December 10, 2015 Retailing

Paymark says Christmas spending has started strongly across the country in both volume and value.

According to data released yesterday, transactions on the Paymark network for the first week of December were +8.5% by volume and +7% by value.

Paymark CEO Mark Rushworth says the early volume of traffic bodes well for the Christmas retail season:

“Traditionally Kiwis have waited until a little later in the month to do their Christmas shopping but the advent of online retail means we’re seeing traffic volumes increase a little earlier than has been the case in the past. It will be interesting to see if that trend continues in the future.”

By retailer sector, growth was strongest in Liquor (+9.4%), Fast Food (+14.9%),  Clothing & Footwear (+9.2%), Furniture & Hardware (+10.6%), Recreational (+11.6%), Accommodation (+18.6%), Restaurants & Cafes (+12.2%) and Hairdressers (+15.0%).

Transactions were down amongst Farm Supply (-12.0%), Travel (-1.3%) and Fuel (-3.8%).

Credit card growth remains strong at +8.4%.

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