As Christmas approaches, weekly spending on BNZ credit and debit cards is slower and lower, reported the BNZ MarketView.

Retail spending was down two percent for the week ending November 16, compared with the same week in 2013.

This is the fourth week consecutive week that Marketview has reported a decrease in spending, compared with the same week in 2013.

Transaction volumes for the week were up by 0.07 per cent, and were increased by around one per cent over the last 30 days.

The slow spending was across several categories, with an apparent softer demand for clothing, footwear, books, and stationery.

Conversely, there was increased hospitality activity during the week of November 16, with a 4.4 per cent increase in spending at bars and cafes.

MarketView said that this time of year is when retailers and shoppers play a game of ‘chicken’. This is where retailers are convinced that consumers won’t leave shopping until the last minute, and consumers are convinced that waiting to buy will bring them a better price point.

Online shopping offshore will also have an effect on weekly spending, with rates tending to peak in October and November as shoppers  spend in order to met international shipping deadlines for Christmas delivery.