Eftpos payment data confirm the hit to Canterbury's economy from Saturday's earthquake, revealing businesses in the region are trading at almost one-third less than the same time last year.Total spending across the Paymark Eftpos systems network in Canter
Eftpos payment data confirm the hit to Canterbury’s economy from Saturday’s earthquake, revealing businesses in the region are trading at almost one-third less than the same time last year.
Total spending across the Paymark Eftpos systems network in Canterbury over Father’s Day weekend was down 32% or $8.1 million compared to the same time last year.
Saturday sales were down 43% and Sunday sales down 18% compared with last year.
Paymark said all retail sectors were badly affected, with stores that would normally receive a boost from Father’s Day shopping the hardest hit. These include gift stores (down 81%), camper/photo stores (down 79%) and electronics stores (down 77%).
The trading deficit followed what had already been a tough month for Canterbury, with data showing electronic card payments were down 0.6% in August compared to the same time last year.
Difficult winter trading was experienced across all parts of the country however, with spending outside of petrol stations and supermarkets down 0.4% on August last year and annual growth of only 0.2% during the last four months.
The last time such tough times were felt was during the months of November to February of 2008/2009.
Outside of Canterbury, Father’s Day spending provided relief for some sectors, with spending on jewellery and watches up 21% on the same Friday-Sunday period from a year ago.
Household appliance sales rose 23% on the same weekend last year and Sunday dining saw restaurant spending up 10%.
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