Card spending rises in November

(Source: Bigstock)

New Zealand card spending in November saw a 9.6-per-cent surge month on month, equivalent to $543 million, according to Stats NZ. 

In actual terms, electronic card spending was $8.4 billion, up 1.2 per cent (or $98 million) from the same time last year. The rise in card spending was strongest over the furniture, electrical and hardware categories. 

“Card sales continued to rise in November, as Covid-19 alert levels eased for upper North Island, which allowed more non-essential retail businesses to open,” said Ricky Ho, business performance manager at Stats NZ. 

Within the retail category, durable goods, which include furniture, electrical, hardware, department stores, and sports goods, accounted for the highest increase, up 22.9 per cent compared to the previous month and 11.4 per cent year-on-year.

“The sharp increase in spending on furniture, electrical, and hardware coincided with Black Friday sales at the end of the month”, Ho added. “Black Friday promotions appear to be more popular than ever, with Kiwis spending more on durable goods such as cell phones and laptops in the lead up to Christmas.”

Meanwhile, groceries and liquor was the only spending category that recorded a drop in card spending over the month, down $14 million (0.6 per cent) month on month.

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