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Spending via Paymark EFTPOS in Canterbury over the Earthquake weekend was down 32% on a year ago

Posted in News

Spending via Paymark's EFTPOS terminals in the Canterbury region over the weekend of the earthquake was down 32% or NZ$8.1 million on the same period a year ago, Paymark has reported.

"All retail sectors were badly affected during weekend trading, with Saturday sales down 43% and Sunday sales down 18% on last year," Paymark said.

"Amongst some of the hardest hit over the weekend were stores that would normally be experiencing an increase in sales due to Father’s Day including Gift stores (- 81%), Camera/Photo shops (-79%) and Electronics stores (- 77%)," it said.

Parmark said it had been a tough month for Canterbury with year-on-year statistics showing the region was down 0.6% for the month of August.

"Difficult winter trading was also felt by much of the country with spending outside of petrol stations and supermarkets down by 0.4% on August 2009, and annual growth of only 0.2% over the last four months, an experience reminiscent of the tough November – February period of 2008/9."

However, some regions were growing, including West Coast (+ 5.1%) and Palmerston North (+ 4.7%).

What are you seeing in Canterbury's retailing and small business sectors? Your experiences? How do you see the region coping and recovering?

We welcome your help to improve our coverage of this issue. Any examples or experiences to relate? Any links to other news, data or research to shed more light on this? Any insight or views on what might happen next or what should happen next? Any errors to correct?

We welcome your comments below. If you are not already registered, please register to comment in the box on the right or click on the "'Register" link at the bottom of the comments. Remember we welcome robust, respectful and insightful debate. We don't welcome abusive or defamatory comments and will de-register those repeatedly making these comments.

9 Comments

looks shaky.  a seismic

looks shaky.

 a seismic shift in spending patterns.

*zing*

*zing*

Well, what do you expect? We

Well, what do you expect? We didn't feel like last week-end was the best time to be inside a shopping mall, probably still don't!! Elvis's song "I'm all shook up" has taken on a whole new meaning lol.

or 'Shake your

or 'Shake your Booooty".

Yes, it seemed a silly statistic.

Not surprising since the

Not surprising since the power was off!

I'm sure if you just looked

I'm sure if you just looked at sales of bottled water in Canterbury last weekend you'd see a massive increase. Not sure I'd base any economic theories on any figures from the last week.

Surprised the figures were

Surprised the figures were even that high!

What a stupid topic, Lets

What a stupid topic, Lets state the bloody obvious.

Hands up all those in

Hands up all those in Canterbury that want to continue the move to a cash-less society.......please somebody put at least 1 hand up :-)