Kiwis are spending more on cards according to the latest Retail Card Spending data from Stats NZ, reflecting the contrast in trading conditions since the Covid restrictions of a year ago.
Total retail spending during the September quarter was $19 billion, representing a 16.7 per cent increase year on year.
Quarter on quarter, seasonally adjusted card spending through retailers increased by 1.7 per cent, or by $312 million compared with the three months to June, while total spending on cards increased by 4 per cent to $912 million.
“Card spending increased across most retail industries, with large increases seen in fuel and consumables,” said Stats NZ business performance manager Ricky Ho.
“This reflects large annual increases in hospitality and durables. Spending on these items was hard hit last year as the country moved to alert level 4 restrictions in mid-August 2021 and was in various alert levels in September 2021,” Ho said.
Meanwhile, in September, retail card spending rose 1.4 per cent against August, driven by consumables – which include groceries and liquor – up $20 million (0.8 per cent).
“People continued to spend more on items such as food and liquor,” said Ho. “This is the third consecutive monthly increase for consumables.
“We’ve seen food prices going up in the past few months, which can impact card spending on groceries.”
The electronic card transactions series covers all debit, credit, and charge-card transactions with New Zealand-based merchants. It can be used to indicate changes in consumer spending and economic activity.
