Worldline NZ expects Christmas Eve to be the peak day for total core retail transactions. Photo: 123RF
Consumer spending patterns have been tracking slightly below expectations for the first half of the month, but are expected to pick-up as Christmas approaches.
Worldline NZ's latest data indicates spending at core retail merchants fell 0.3 percent to just over $2 billion ($2.049b) in the first 14 days of December on last year, with mixed patterns across sectors and regions.
Spending was highest in West Coast (+3.9 percent), Whanganui (+3.3 percent) and Otago (+2.9 percent), with the biggest declines recorded in Wellington (-4.0 percent) and Bay of Plenty (-2.4 percent).
Worldline NZ chief sales officer Bruce Proffit said Christmas Eve was expected to be the peak day for total core retail transactions.
"But we'll see if that holds up in the ongoing challenging economic environment," he said.
Hospitality spending was also expected to rise further this week with the peak expected Saturday 20 December.
"Food and liquor stores saw more transactions and slightly higher average transaction value across almost all regions in New Zealand, apart from Marlborough, but this is expected to increase even further in the coming days as shoppers prepare for Christmas Day festivities," Proffit said.
Hospitality sector spending was mixed with spending generally more positive outside the major centres.
Spending on non-food goods fell 5.7 percent on the year earlier to just over half a billion dollars ($549m).
"Notably, some merchant sectors surpassed their Black Friday weekend spending peak last Saturday, including gift stores, toy and games retailers, bookshops, marine stores, florists and jewellery stores," Proffit said.
"However, almost all merchants within this group are anticipated to reach new highs for the year, in the remaining days before Christmas, although spending at clothing stores generally peaks on 26 December amidst the usual Boxing Day sales."
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