Retail spending strong in City

26 March 2012

Retail spending strong in City

Data released from Paymark for February 2012 is encouraging for Palmerston North with electronic transactions through their network up 11.1% on February 2011.

Regional Paymark spending data shows that both international card (debit and credit) and domestic card spending continues to grow strongly ahead of national growth.

“It's encouraging to see continued growth in these figures,” Mayor Jono Naylor said. “We have seen the retail sector as an area of strength for us, and these figures show an increase in the level of outsiders visiting our city to shop.”

Across the country the rate of growth in international card spending has been decreasing since Rugby World Cup, but has remained at high levels in Palmerston North. The NZCT Women’s Cycle Tour of NZ which was based in the City in February is likely to have contributed to the growth during this month.

International card spending at supermarkets, cafes, restaurants and fuel outlets in the region has also increased by 37% over the last 12 months, with accommodation spending increased by 27%.

Domestic card spending has also remained strong with an increase of 6.0% for February.

Domestic spending in both food and fuel outlets have also experienced increased sales of 14.9% in the 12 months ended February.

Strong growth in retail sales compared to weaker growth rates of those regions surrounding Palmerston North would indicate that more people are choosing to travel to the region to shop.

ENDS

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