Consumer shopping satisfaction has plummeted in December, yet consumer spending remains on the rise. What about Christmas shopping leads to such an unhappiness for Kiwis?
Good Friday left its mark on Kiwis as Paymark results show retail spending jumped dramatically for the one day shopping holiday.
The traditional Father’s Day presents of books and sporting goods may reign supreme, but flowers are also becoming increasingly popular. Data released by Paymark has tracked the trends in spending over the celebratory day and showed an overall decrease in spending.
Spending momentum across the country slowed down in the month of March, but growth in the regions was notably higher than that of Auckland, Wellington and Canterbury. Out of all the regions, Paymark data shows Bay of Plenty was bolstered by strong Easter spending and had the highest annual spending growth of 13.4 percent.
Figures from Paymark show tourists are contributing significantly to local spending, with the top spenders being the UK, the US and Australia. Over $270 million has been contributed to the local economy through February by credit card.