Kiwis take advantage of Boxing Day sales

Kiwis take advantage of Boxing Day sales for larger items rather than gifts

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Auckland, New Zealand – December 22, 2016 – A quarter of New Zealanders will make additional purchases on Boxing Day as they search for bargains post-Christmas, despite half of Kiwis seeing Boxing Day sales as stressful and not worth the hassle.

Mastercard’s annual research found Boxing Day sales will extend the busy December period for retailers, with 10% of people planning to buy larger household items in the days after Christmas.

“Financially-savvy Kiwis can shop for items they’ve been eyeing up throughout the year in the Boxing Day sales, like larger household appliances,” says Peter Chisnall, Mastercard Country Manager for New Zealand and Pacific Islands.

“We are also seeing a small but increasing group of people planning to buy gifts after Christmas, rather than for the day, in order to make the most of sales and stick to a Christmas budget.”

However, half of New Zealanders think getting presents for Christmas Day is more important than getting a better price later.

“Kiwis are more likely to take advantage of the days after Christmas to purchase items for themselves rather than extra presents, with a quarter saying they will make additional purchases on top of Christmas shopping and less than 10% saying they would hold off buying actual gifts until the Boxing Day sales,” adds Chisnall.

The bulk of Boxing Day shoppers will patronise local shops and service providers (42%), followed by big box retailers (35%) and New Zealand-based online retailers (12%).

The prevalence and rising popularity of online shopping came through strongly in the research with 45% of respondents saying it was easier to shop online to get Boxing Day deals than go in-store. 18% said they would research online for the best deal while recovering from Christmas lunch before heading in-store on Boxing Day.

“The increasing popularity of online shopping means people can find deals from the comfort of their own home to avoid the in-store Boxing Day rush. Half of New Zealanders say they find Boxing Day sales stressful, so online shopping is a good option for people hunting for a bargain,” says Chisnall.

When asked what people would do with their money if Christmas was cancelled this year, almost half of respondents said they would leave money in the bank (47%). This was followed by putting it in savings or investments (29%), paying off debt (26%) or shopping for themselves (17%).

Others said they would give money to charity or their grandchildren, go to a concert or treat themselves to an international holiday.

ENDS

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