According to the latest Retail Card Spending data from Stats NZ, Kiwis are spending more on cards, 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 percent increase year on year. Quarter on quarter, seasonally adjusted card spending through retailers increased by 1.7 percent, or by $312 million compared with the three months to June, while total spending on cards increased by 4 percent to $912 million.
Meanwhile, in September, retail card spending rose 1.4 percent against August, driven by consumables – which include groceries and liquor – up $20 million (0.8 percent).
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.
