Nationwide retail spending jumped 22.7 per cent over Black Friday and the following three days, outstripping the spend achieved during the flash sales event a week earlier.
This jump in spending was seen across core retail categories, excluding food, liquor and hospitality, according to new figures released today by Paymark.
Last year, Kiwis spent $650m over the Black Friday weekend. Paymark says this increased by 3.9 per cent this year but was unable to confirm the total figure.
Paymark is now owned by Paris-based Ingenico Group and unable to share total figures.
The spending jump occurred throughout New Zealand for the four-day Black Friday weekend, but the data shows not as much as last year, in some regions.
Noticeably, spending in Palmerston North, Marlborough, West Coast, South Canterbury and Otago was below year-ago levels, Paymark said.
The annual growth rate was highest in Nelson and Wellington.
Paymark said Cyber Monday, the Monday that follows the Black Friday weekend rounded off the four weeks of spending in November, considered the start of Christmas shopping period for many.
Nationwide spending in the month rose 3 per cent through Paymark, which accounts for 75 per cent of the country’s electronic transactions.
Over the same four weeks, spending at food and liquor merchants increased 6.2 per cent. However, spending declined 0.8 per cent through food and beverage services merchants, 37.2 per cent through accommodation merchants and 10.2 per cent through non-retail merchants.
While spending across core retail merchants increased in the month, Paymark noted that the “economy remains mixed”.
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