South Canterbury spending up

Last updated 11:51 14/12/2012
BIG SHOP: Spending in South Canterbury in the second week of December is up on the same time last year.
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Presents all bought, wrapped and under the tree.

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Some down, some to go.

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South Canterbury is not sparing the change in the big spend before Christmas, Paymark's latest figures show.

The district experienced the second highest weekly increase in value of spending in the country between December 6 and 12.

Spending increased from $17.5 million for the same period last year to $18.6m this year - an annual difference of $1.1m.

The difference in value equates to a 6.2 per cent hike while spending across the Paymark network showed a nationwide annual growth of 4.1 per cent.

Paymark processes around three quarters of all electronic transactions in New Zealand with $1 billion passing through its network in the seven day period.

The busiest shopping day so far this month was Friday, December 7, with more than $164m through the tills.

Head of sales and marketing Paul Whiston said spending was expected to rise another 33 per cent by the week ending December 24.

Spending growth was high at hardware and building supplies outlets, appliance stores and furniture retailers.

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- The Timaru Herald


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