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Financial News: New Zealand September Electronic Retail Card Spending Gain

New Zealand September Electronic Retail Card Spending Gains 0.9%

10/11/2021 - 18:50:00 (RTTNews)

(RTTNews) - The value of electronic retail card spending in New Zealand climbed a seasonally adjusted 0.9 percent on month in September, Statistics New Zealand said on Tuesday - following the 19.7 percent drop in August.

Spending in the core retail industries was roughly unchanged.

By spending category, the movements were: durables, up NZ$193 million (17.5 percent); motor vehicles (excluding fuel), up NZ$30 million (24.9 percent); fuel, up NZ$3 million (0.8 percent); apparel, down NZ$22 million (10.4 percent); and consumables, down NZ$83 million (3.3 percent).

The non-retail (excluding services) category rose slightly from August 2021, at NZ$4 million (0.3 percent). This category includes medical and other health care, travel and tour arrangement, postal and courier delivery, and other non-retail industries.

The services category was up NZ$23 million (11.6 percent). This category includes repair and maintenance and personal care, funeral, and other personal services.

The total value of electronic card spending, including the two non-retail categories (services and other non-retail), increased by NZ$104 million (1.6 percent) compared with August 2021.

On a yearly basis, spending sank 14.9 percent after losing 11.4 percent in the previous month.

Cardholders made 113 million transactions across all industries in September 2021, with an average value of NZ$57 per transaction. The total amount spent using electronic cards was NZ$6.5 billion.

For the third quarter, card spending was down 11.6 percent on quarter and core retail spending fell 11.1 percent.

By industry, the movements were: durables, down NZ$902 million (17.9 percent); apparel, down NZ$272 million (26.2 percent); fuel, down NZ$238 million (14.6 percent); motor vehicles (excluding fuel), down NZ$138 million (22.2 percent); and consumables, up NZ$474 million (6.9 percent).

The non-retail (excluding services) category was down NZ$573 million (11.0 percent) and the services category was down NZ$217 million (21.7 percent).

The total value of electronic card spending, including the two non-retail categories (services and other non-retail) fell by NZ$3.1 billion (13.4 percent) compared with the June 2021 quarter.

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