New Zealand Retail Credit Card Spending Jumps 4.0% In April

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The value of retail electronic spending in New Zealand climbed a seasonally adjusted 4.0 percent on month in April, Statistics New Zealand said on Tuesday – after rising 0.8 percent in March.

Spending in the core retail industries climbed 4.1 percent on month.

By industry, the movements were: fuel, up NZ$26 million (5.1 percent); apparel, up NZ$26 million (8.3 percent); durables, up NZ$21 million (1.3 percent); consumables, up NZ$21 million (1.0 percent); and motor vehicles (excluding fuel), down NZ$0.4 million (0.2 percent).

The non-retail (excluding services) category increased by NZ$36 million (2.3 percent). This category includes medical and other health care services; travel and tour arrangement services; postal and courier delivery services; and other non-retail industries.

The services category was up NZ$0.1 million (0.04 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$309 million (4.0 percent) compared with March 2021.

The hospitality industry was up NZ$1.1 billion (1,942 percent) from NZ$57 million in April 2020 to NZ$1.2 billion in April 2021.

In actual terms, cardholders made 158 million transactions across all industries in April 2021, with an average value of NZ$50 per transaction.

On a yearly basis, retail electronic spending skyrocketed 108.7 percent after rising 5.1 percent in the previous month.

Consumables sub-industry movements included: specialized food, up NZ$146 million, from NZ$69 million to NZ$215 million; liquor, up NZ$123 million, from NZ$52 million to NZ$175 million; and supermarket and grocery stores, down NZ$278 million, from NZ$2.1 billion to NZ$1.8 billion.

Durables sub-industry movements: furniture, electrical, and hardware retailing, up NZ$573 million, from NZ$138 million to NZ$711 million; pharmaceutical and other store-based retailing, up NZ$251 million, from NZ$107 million to NZ$358 million; department stores, up NZ$244 million, from NZ$93 million to NZ$337 million; and recreational goods, up NZ$135 million, from NZ$25 million to NZ$160 million.

Hospitality sub-industry movements: food and beverage services, up NZ$926 million, from NZ$44 million to NZ$969 million; and accommodation services, up NZ$172 million, from NZ$13 million to NZ$185 million.

Non-retail sub-industry movements: medical and other health care services (includes GPs, specialists, physiotherapy, optometry, ambulances, and dental care), up NZ$222 million, from NZ$29 million to NZ$251 million; postal and courier pick-up and delivery services, up NZ$44 million, from NZ$3.2 million to NZ$48 million; and travel agency and other tour arrangement services, up NZ$32 million from, -NZ$1.4 million (negative due to refunds) to NZ$31 million.

The material has been provided by InstaForex Company – www.instaforex.com

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