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A record breaking Christmas Eve and a strong Boxing Day says the Paymark network

A record breaking Christmas Eve and a strong Boxing Day says the Paymark network

Content supplied by Paymark

Kiwis have opened their wallets more than ever this festive season with a record breaking $404.3 million spent through the Paymark network on Christmas Eve and Boxing Day.

On Christmas Eve, $263.5 million was processed via the Paymark network, an increase of 10.5% on last year.

Boxing Day provided many retailers with an additional boost with $140.8 million spent across the country which represents a 4.8% increase in spending through its network, equivalent to an additional $6.4 million in retailers’ pockets, when compared to 2013.

Paymark’s Head of Customer Relations Mark Spicer says Christmas Eve this year was Paymark’s biggest day on record with $263.5 million processed through the network, up by an unprecedented 10.5% on 2013.

“Christmas Eve this year smashed all our records. Not only did we see the highest ever spending value through the network, we also saw the highest number of transactions at 4.8 million. During our busiest hour on Christmas Eve, traditionally 12 noon – 1pm, another record was broken when the number of transactions processed per second peaked at 156. This compares with 148 transactions per second in 2013.”

Some of the South Island regions led the spending spree on Christmas Eve with Otago, Canterbury and Nelson all recording double digit annual growth. And while Otago and Canterbury were both strong on Boxing Day, high growth was also recorded in the Bay of Plenty and Wanganui.

Christmas Eve saw kiwis spending up on clothing, apparel and jewellery, up 8.9% on last year. Department stores were also up by 6.3%. However some of the largest gains were seen in the hospitality sector with 26.7% growth recorded on Christmas Eve.

“Food retailers which includes cafes and restaurants, along with liquor merchants, were also strong performers on Christmas Eve”, says Spicer, with an increase of 13.5% and 11.8% respectively.

“We appear to have dined well on Christmas Eve and then returned for more on Boxing Day.”

Boxing Day key statistics, year on year:

High growth of 22% was recorded at flooring and furniture stores

Strong growth at liquor merchants of 23.1%

Spending at hardware merchants was up 17.7%

Hospitality sector up 15.3%

Spending in the food retail sector was up 14.3%

Department stores were moderate with 5.0% growth

Clothing, apparel and jewellery stores were slower with 0.8% growth

*The tables below show regional spending figures for yesterday Boxing Day and Christmas Eve

PAYMARK Data Boxing Day (26 Dec 2014 versus same date 2013)
  Volume (million transactions) Value of spending ($millions)
Region Last
Year
2014 Volume
Difference
Last
Year
2014 Value
Difference
             
Auckland/Northland 0.90 0.97 8.8% $56.0 $58.8 5.1%
Waikato 0.18 0.19 7.1% $10.2 $10.3 0.3%
BOP 0.17 0.19 10.0% $9.8 $10.5 7.7%
Gisborne 0.03 0.03 4.4% $1.4 $1.5 3.1%
Taranaki 0.05 0.06 4.9% $2.9 $2.9 -1.6%
Hawke’s Bay 0.06 0.07 9.1% $3.5 $3.6 4.2%
Wanganui 0.03 0.03 12.3% $1.2 $1.3 7.6%
Palmerston North 0.07 0.08 8.4% $3.7 $3.8 3.3%
Wairarapa 0.02 0.02 13.6% $1.2 $1.2 3.5%
Wellington 0.21 0.22 5.5% $11.7 $12.3 4.7%
Nelson 0.05 0.05 6.7% $2.7 $2.7 2.7%
Marlborough 0.03 0.03 10.8% $1.7 $1.8 7.3%
West Coast 0.02 0.02 4.9% $1.0 $1.0 0.1%
Canterbury 0.23 0.25 9.1% $13.9 $14.8 6.2%
South Canterbury 0.03 0.04 9.0% $2.1 $2.2 1.5%
Otago 0.12 0.13 12.6% $7.5 $8.1 7.7%
Southland 0.05 0.05 1.8% $3.3 $3.0 -8.8%
             
New Zealand 2.25 2.45 8.8% $134.4 $140.8 4.8%

 

PAYMARK Data Christmas Eve (24 Dec 2014 versus same date 2013)
  Volume (million transactions) Value of spending ($millions)
Region Last
Year
2014 Volume
Difference
Last
Year
2014 Value
Difference
             
Auckland/Northland 1.66 1.85 11.4% $90.8 $100.2 10.4%
Waikato 0.36 0.40 11.0% $19.1 $20.8 8.9%
BOP 0.32 0.35 10.2% $17.3 $18.5 7.2%
Gisborne 0.05 0.06 8.6% $2.8 $2.9 3.1%
Taranaki 0.11 0.12 6.3% $6.1 $6.2 1.3%
Hawke’s Bay 0.14 0.16 9.8% $7.4 $8.0 8.5%
Wanganui 0.06 0.06 9.8% $2.7 $2.9 9.0%
Palmerston North 0.14 0.16 12.5% $7.2 $8.0 10.4%
Wairarapa 0.05 0.05 7.6% $2.6 $2.8 6.5%
Wellington 0.39 0.45 14.1% $21.0 $22.6 7.9%
Nelson 0.10 0.10 10.3% $5.1 $5.7 12.8%
Marlborough 0.06 0.06 8.3% $3.2 $3.5 9.8%
West Coast 0.03 0.03 11.5% $1.9 $2.0 7.5%
Canterbury 0.47 0.54 13.6% $25.7 $29.2 13.6%
South Canterbury 0.07 0.08 8.1% $4.4 $4.6 4.2%
Otago 0.22 0.25 17.1% $12.5 $14.5 15.9%
Southland 0.11 0.12 10.4% $6.2 $6.6 6.4%
             
New Zealand 4.35 4.88 12.1% $238.4 $263.5 10.5%

Note: History shows that changes in Paymark transactions are not always consistent with retail sales, as released by Statistics NZ, but they do provide a wide measure of household spending. Some Paymark transactions occur through merchants not currently considered part of the retail sector. Some electronic sales are transacted through other switching houses and there remains spending with cash, cheques or other non-electronic means. Paymark spending includes any GST paid to the merchant, and also includes cash withdrawals at the time of purchase.

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