Boxing Day quakes shakes sales
Christchurch retailers have taken a hit from earthquake aftershocks on Boxing Day, according to Paymark figures that show Boxing Day sales overall were not a bonanza for retailers.
Christchurch retailers have taken a hit from earthquake aftershocks on Boxing Day, according to Paymark figures that show Boxing Day sales overall were not a bonanza for retailers.
The volume of electronic transactions nationwide on Boxing Day was down 6.7 percent on last year. In Christchurch, the fall was 10.7 percent.
Parts of central Christchurch, including the Cashel Street shopping mall, were cordoned off after a series of quakes damaged buildings on Boxing Day.
In the Auckland and Northland region the volume of transactions on Boxing Day was only down 4.7 percent from last year and in Otago the drop was 3.2 percent.
Paymark processes more than 75 percent of electronic transactions in New Zealand.
The value of transactions it monitors was down 2.8 percent on last year and in Christchurch the value of transactions was down 9.6 percent.
It has generally not been a great season for retailers, though shoppers were out on Christmas Eve. Wet weather during the last weekend before Christmas meant electronic transactions were 0.8 percent below the same weekend the year before.
In the first 21 days of December New Zealanders spent more than $3 billion, up 3.8 percent on the same time last year. But this is down from the 4.6 percent growth achieved from the year before in October and November.
In terms of volume, 57.72 million transactions were processed through Paymark's network between December 1 and December 21, which is up 3.4 percent from last year.
Paymark has also reported that people appear to be putting less on their credit cards.
In the first 21 days of December shopping Eftpos spending was up 5.3 percent and credit card spending was up 2 percent.
NZPA
Mon, 27 Dec 2011
Mon, 27 Dec 2011
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Boxing Day quakes shakes sales
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