Consumer spending was up 10.5 percent on October 2021 and 16.1 percent on pre-covid levels in 2019, according to data from Core Retails merchants in Worldline NZ’s payment network.
“The growth seen nationally between October 2019 and October 2022 is slightly less than what occurred in September of those respective years, but the fall of days in the month can explain most of this decline,” said George Putnam, Worldline NZ’s Head of Data.
“As we head into November, the good news is that spending, although barely above pre-Covid levels in real terms, does appear to be getting back to a normal pattern – and that should be welcome news for Kiwi retail merchants heading into the traditionally busy Christmas shopping season at the end of what’s been a very tough year.”
When Christmas last fell on a Sunday, peak spending was the Saturday before Christmas Day for liquor outlets and Friday for supermarkets, department stores, bookshops, jewellers, pet shops and sporting goods outlets. Thursday saw the peak for petrol stations and hairdressers, and Tuesday for home decorating, pharmacies and health food shops.
