Kiwis’ retail card spending up by 1.4% in September: StatsNZ

Follow us on Google News:
 Kiwis’ retail card spending up by 1.4% in September: StatsNZ
Image source: Suradech Prapairat, Shutterstock.com

Highlights

  • According to StatsNZ, retail card spending rose 1.4% in September 2022
  • The largest spending was seen on consumables
  • Cardholders made 158 million transactions across industries in September 2022

Retail card spending rose 1.4% in September 2022, StatsNZ said today (11 October 2022). Spending rose across a majority of retail industries, with the largest contribution coming from consumables, up by NZ$20 million (0.8%).

Consumables include items such as groceries (supermarkets) and liquor. The report shows people continued to spend more on items such as food and liquor. According to Ricky Ho, StatsNZ’s business performance manager, since food prices have gone up in the past few months, it has had an impact on card spending on groceries.

Image Source: © 2022 Kalkine Media®

As per the report,  the cardholders made 158 million transactions across all industries in September 2022, with an average value of NZ$54 per transaction. The total amount spent using electronic cards was NZ$8.6 billion.

According to the survey, seasonally adjusted card spending in retail industries increased to NZ$312 million (1.7%, while total card spending increased NZ$912 million, up 4% from the June 2022 quarter.  

In September itself, card spending was up NZ$19 million in the September quarter, more than 16.7% from the September 2021 quarter.

As per the report, this trend was visible in all retail industries, with large increases seen in consumables and fuel.

The figures by StatsNZ show large annual increases in hospitality and durables as spending in these areas were hit hard in 2021 due to various levels of lockdowns. Electronic card transactions cover debit, credit, and charge card transactions.

The survey has given a category-wise break up of spending. These include an increase of 0.8% in consumables, followed by apparel at 4.3%, and fuel at 2%. On the other hand, spending on motor vehicles and durables was down 0.9% and 0.6%, respectively.

The non-retail category increased by NZ$28 million, up 1.4% from August 2022. This category includes medical and other healthcare services, travel, postal, and courier delivery.

The services category was down NZ$1 million, or 0.3%. This category includes the likes of repair and maintenance and personal care.

 

 

 

Disclaimer

The content on this website, including, but not limited to, any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (“Content”) is a service provided by Kalkine Media New Zealand Limited (Kalkine Media, we or us) and is available for personal and non-commercial use only. The principal purpose of the Content is to educate and inform. The Content does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the Content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stocks of the company(s) or engage in any investment activity under discussion. Kalkine Media is neither licensed nor qualified to provide financial advice through this platform. Users should make their own enquiries about any investments and Kalkine Media strongly suggests users seek financial advice from a financial advice provider, stockbroker or other professional (including taxation and legal advice), as necessary. Kalkine Media hereby disclaims any and all liability to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without any express or implied warranties of any kind. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used on this website are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed/music used on this website unless stated otherwise. The images/music that may be used on this website are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit a source wherever it is indicated or is found to be necessary or desirable.

We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it. OK