Kiwis spending strongly

Kiwis spending strongly

Happy Shopper The month of January has carried on where December’s spending left off, with an annual underlying Paymark growth rate of 6% – similar to the 5.9% average for 2015.

The holiday regions saw the fastest growth in the value of transactions with Bay of Plenty, Gisborne, Marlborough and Otago all reporting solid numbers.

Chief Marketing Officer Tim McFarlane says the figures are in line with expectation for the summer months. “After Christmas, spending is usually somewhat lower although January traditionally sees an increase in Accommodation.”

This year, Accommodation was up 30%, plus Food and Beverage services were up 24% and Entertainment (including movies) up 20%.

PAYMARK All Cards Data (Jan 2016 versus same month 2015)
Volume Underlying* Value Underlying*
Region transactions millions Annual % change transactions $millions Annual % change
Auckland/Northland 36.58 6.6% $1,808.8 7.4%
Waikato 7.37 4.1% $334.5 4.1%
BOP 6.84 8.5% $324.2 8.9%
Gisborne 0.97 8.1% $41.1 8.8%
Taranaki 2.11 0.6% $92.1 0.0%
Hawke’s Bay 2.86 8.3% $130.3 7.3%
Wanganui 1.02 4.3% $41.7 3.7%
Palmerston North 2.94 5.9% $139.6 1.6%
Wairarapa 0.93 4.6% $40.7 2.7%
Wellington 9.26 4.7% $403.9 5.3%
Nelson 2.11 6.4% $104.4 3.3%
Marlborough 1.21 8.2% $63.5 8.3%
West Coast 0.65 -0.2% $33.8 -5.2%
Canterbury 10.19 4.9% $498.0 5.0%
South Canterbury 1.43 3.4% $70.6 2.6%
Otago 5.43 7.3% $281.5 8.2%
Southland 2.02 5.6% $101.7 6.9%
New Zealand 94.71 5.9% $4,563.9 6.0%
* Large clients moving to or from Paymark within last 12 months excluded from change calculation

Figures from Southland, Gisborne and Hawke’s Bay and Otago were also strong with growth in both credit card and debit card use. The Bay of Plenty in particular shows significant annual growth which suggests strong visitor numbers for January.

Recap for the year

The full last calendar year saw an overall growth in spending on the Paymark network of 5.9%. Auckland/Northland, Bay of Plenty, Nelson and Otago led growth with only the smaller regions of Taranaki and the West Coast declining slightly.
Paymark seamlessly switched a little over 1.106 billion transactions last year – roughly 60 transactions a second on average – 73% of these transactions were for debit cards and 27% for credit cards.

In value terms, $53.3 billion worth of goods and services were paid for through the Paymark network

Annual PAYMARK All Cards Data  2015
Volume Underlying* Value Underlying*
Region transactions millions Annual % change transactions $millions Annual % change
Auckland/Northland 442.61 7.6% $21,871.4 7.5%
Waikato 81.77 6.7% $3,730.0 4.9%
BOP 70.85 8.7% $3,357.7 7.8%
Gisborne 10.18 6.0% $433.7 4.2%
Taranaki 24.56 1.0% $1,086.5 -1.6%
Hawke’s Bay 30.98 7.1% $1,416.7 4.8%
Wanganui 11.91 5.8% $490.6 4.5%
Palmerston North 34.56 8.1% $1,723.8 4.1%
Wairarapa 10.30 6.2% $459.0 3.6%
Wellington 114.84 4.7% $4,972.2 4.1%
Nelson 21.05 6.1% $1,073.3 8.1%
Marlborough 11.80 8.0% $603.4 6.6%
West Coast 6.69 3.2% $353.3 -0.7%
Canterbury 124.67 5.9% $6,065.4 4.8%
South Canterbury 16.35 3.5% $831.1 1.0%
Otago 60.16 8.8% $2,972.6 7.9%
Southland 23.37 2.3% $1,176.7 1.1%
New Zealand 1,106.12 6.8% $53,274.6 5.9%
* Large clients moving to or from Paymark within last 12 months excluded from change calculation

 

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