HomeNEWSPaymark study reveals Lockdown’s impact on Retail

Paymark study reveals Lockdown’s impact on Retail

Auckland’s three day Lockdown that occurred earlier this month has made a clear impression on Paymark’s retail spending figures. While only Auckland moved into Level 3 Lockdown, the impact was felt across the country.

Looking at the five-day period bracketing the Lockdown (the day before, three days of lockdown, and the day after), Paymark has found that spending was down 21 percent, relative to trend, amongst Core Retail merchants in Auckland/Northland.

In comparison to the same days last year, spending would have been expected to change at the rate of growth averaged to date in February. Instead, a decline in spending across many Auckland/Northland merchants led to $44 million less spending than to be expected. 

For the rest of New Zealand who were under Lockdown Level 2, Paymark revealed spending amongst Paymark’s Core Retail merchants was down 2 percent, or $6 million.

The big spending falls in Auckland/Northland came amongst the cafes and bars within the hospitality sector and the vast range of shops within the rest of the Core Retail sector. There was little in the way of extra spending either before or after Lockdown Level 3 amongst these merchants. 

Rate This Article:

One of the talented The Register Team of Content Producers made this post happen.