Christmas Eve and Boxing Day smash spending records

December 27, 2013

Christmas Eve and Boxing Day smash spending records

Figures released today by leading payments provider Paymark, confirm Kiwis have opened their wallets more than ever this December.

Paymark Head of Sales & Marketing, Paul Whiston, says Christmas Eve this year was Paymark’s biggest day on record with $238.4 million through the network, a whopping 18.5 per cent up on the same day in 2012.

“Christmas Eve this year smashed all our records. Not only did we see the highest value through the network ever, we also saw the highest number of transactions – at 4.35 million – and the largest number of transactions per second.

“To come off the back of a high like this and to also see the busiest Boxing Day that we’ve ever seen, is a hugely positive result for retailers,” he says.

Paymark, which processes around three quarters of New Zealand’s electronic transactions, saw a 12 per cent increase in spending through its network on Boxing Day, equivalent to an additional $14.4 million in retailers’ pockets, when compared to 2012.

“Yesterday was a continuation of the growth in Boxing Day sales we’ve seen in recent years. It’s also an indication that consumer confidence is high due to the improved economy we’re seeing at present – a win-win for retailers as far as we’re concerned.

“Looking at the regions, it’s nice to see some of the smaller parts of the country reaping the benefits. Gisborne saw the highest growth on Christmas Eve, up almost 36 per cent on the previous year. And yesterday Wairarapa saw an extra $200,000 injected into its local economy, an increase of 17.2 per cent on 2012,” says Whiston.

On Christmas Eve food / liquor retailers (+28%) and department stores (+23.2%) were amongst the biggest winners.

“The huge queues seen at the supermarkets on Christmas Eve were certainly reflected in our stats for the day, as people rushed to get their fresh produce for Christmas lunches and dinners,” says Whiston.

For Boxing Day it was the deals at clothing and jewellery stores (+16.5%), appliance and whiteware stores (+16.6%), electronics retailers (+12%), and floor covering and furniture stores (+17.5%) that brought the shoppers in.

In addition, sporting and camping equipment outlets had particularly big days, both on Christmas Eve and Boxing Day, up 20.2 per cent and 31.8 per cent respectively.

PAYMARK Regional Data 24th December 2013 versus 2012

PAYMARK Regional Data 26th December 2013 versus 2012

To download a copy of this release in word format click here.

About Paymark
In November 2009, Paymark honoured a significant business, retail, and economic milestone with the celebration of its 20th birthday. Since its inception in 1989 when three banks came together to form Electronic Transaction Services Limited (now known as Paymark Limited), Paymark has grown to become an integral part of New Zealand’s economic landscape with arguably the best EFTPOS system in the world.

Quick facts:
• By March 1990 volumes through the network exceeded 1 million transactions a month
• 1994 the company increased its computer processing power to accommodate volumes exceeding 10 million transactions a month
• 28 August 1996, Paymark makes history by installing an off-shore EFTPOS terminal at a general store, Scott Base, Antarctica
• In 1998 Paymark passed another milestone as the 1 billionth EFTPOS transaction was processed
• In February 2012, Paymark processed its 10 billionth transaction
• More than 74,000 merchants and 116,000 terminals are currently connected to the network that is now 3DES and EMV compliant. Today, the Paymark network processes over 75% of all electronic transactions in the New Zealand retail market on behalf of more than 50 card issuers and acquirers.

ENDS

© Scoop Media