6th March 2024 Spend / Worldline
Spending on food increased in February 2024, which saw mixed consumer spending patterns, according to Worldline.
Consumer spending patterns were mixed in the first full week of December, with pre-Christmas shopping up for food and liquor, but down across most other retail sectors, says Worldline New Zealand.
Black Friday in-store retail sales were again popular in 2023, but spending was down on last year, both on the day and over the seven-day period, according to Worldline New Zealand.
February’s extreme weather events had a major influence on consumer spending in affected regions across the month, according to figures released today by Worldline NZ.
The stormy weather that occurred across the North Island led to a drop in consumer spending in several regions but a weakening pattern suggests wider economic factors are also at play, according to Worldline New Zealand.
Consumer spending through core retail merchants in Worldline New Zealand’s payments network, excluding hospitality, reached nearly $814m in the week ending Saturday 10 December 2022.
In the early stages of the pre-Christmas shopping season, spending data show Kiwi consumers outlaid less money on goods but more on hospitality – wining, dining and accommodation – in November.
Black Friday spending was down on last year, offering a cautionary note ahead of the expected busier Christmas shopping period to come, according to payments service company Worldline.
Payments platform Worldline NZ says consumer spending through core retail merchants in its network, excluding hospitality, was up 16.1% on pre-Covid levels to hit $3.13bn in October.
Consumer spending through Worldline New Zealand’s payments network was $2.92bn in August 2022, up 16% on the same month last year, excluding hospitality.
Consumer spending through Worldline New Zealand’s payments network was $2.83bn in August 2022, up 14% on the same month last year, excluding hospitality.
Consumer spend is improving in merchant groups including convenience stores and takeaway merchants, but it still remains below pre-Covid levels, according to Worldline.
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