Card Spending Rebounding from COVID

According to the latest Retail Card Spending data from Stats NZ, Kiwis are spending more on cards, reflecting the contrast in trading conditions since the Covid restrictions of a year ago.

Total retail spending during the September quarter was $19 billion, representing a 16.7 percent increase year on year. Quarter on quarter, seasonally adjusted card spending through retailers increased by 1.7 percent, or by $312 million compared with the three months to June, while total spending on cards increased by 4 percent to $912 million.

Meanwhile, in September, retail card spending rose 1.4 percent against August, driven by consumables – which include groceries and liquor – up $20 million (0.8 percent).

The electronic card transactions series covers all debit, credit, and charge-card transactions with New Zealand-based merchants. It can be used to indicate changes in consumer spending and economic activity.