- 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.
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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.