DIY drives spending boost

ANGELA CUMING
Last updated 11:00 10/09/2012

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Garden sheds and garages are brimming with hardware and gardening supplies like never before as the DIY revolution defies the general retail gloom.

Paymark’s regional data shows the Waikato spent $271.2 million in Eftpos transactions in August 2012, an increase of seven percent from the same time last year, when $253.4 million was spent

Figures released today show a bounce back in national spending across the Paymark network just in time for spring, with stores linked to the building industry the big winners.

Paymark CEO, Simon Tong said DIY stores linked to the building industry continued to show strong growth, with spending up 9.7 per cent August-to-August in hardware stores.

It comes as reality televion show The Block New Zealand recorded high ratings, with hundred of thousands of Kiwis tuning in each week to watch four couple rennovated a house each from start to finish.

That show sponsored by Bunnings, and its products featured heavily in each episode.

The Waikato has  been spending up big  across all retail sectors.

Meanwhile, cafes and restaurants also recovered strongly after a drop in spending during the month of July, with card spending up 8.8 per cent August-to-August.

In contrast, spending is below the pre-Rugby World Cup inflated levels of 2011 with Paymark reporting a drop in spending during August amongst accommodation providers (-5.5%).

Clothing (+5.3%) and footwear (+7.2%) stores also recorded moderately higher year-on-year spending.

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- Waikato Times

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