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Auckland Retail Card Spending Bounces Back In Step Two

Published: Fri 19 Nov 2021 12:29 PM
Bank of New Zealand (BNZ) card spending data released today shows one week of retail therapy at Alert Level 3 Step 2 has been enough to raise card spending in Auckland to levels greater than before the Delta lockdown.
Data released today is for the week ending Tuesday the 16th of November, which captures one week for Auckland at the new alert level step change.
BNZ Chief Economist, Paul Conway, says, “Card spending in Auckland is up 27 per cent on the previous week, which brings it seven per cent higher than pre delta levels.
“Retailers had been waiting a long time for the freedoms that Alert Level 3 Step 2 brought, and Aucklanders dusted off their wallets and didn’t disappoint.BNZ customer card spend through domestic merchants. Includes all credit card transactions, debit card transactions, and EFTPOS card transactions. The index is calculated on the average of the four weeks prior to the delta lockdown. Transactions include spending less any refunds. Transactions are based on ‘transaction date’. Scaling factors are applied to the last two days of data to allow for delays in transactions being posted. Around 94% of card spend has been mapped to a region. The remaining 6% of card spend data is excluded from this analysis.
The previous trading restrictions in the delta lockdown in Auckland were particularly tough on those businesses who couldn’t provide contactless service, or where it wasn’t profitable.
“Compared to the previous week, Department Stores, Clothing and Furniture have all increased sales this last week by more than 100 per cent.
“It’s great to see this bounce, and we will continue to monitor the situation to see how the run up to Christmas is affected by the new traffic light system.
BNZ
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Bank of New Zealand (BNZ) has been a big part of New Zealand life for over 150 years since its foundation in 1861. The bank employs over 5,000 people and has more than 170 retail stores and 32 Partners business centres across the country.
Passionate about enabling a higher achieving New Zealand, BNZ works with personal, business, agri, and private wealth clients, helping them grow and make their goals a reality.
A subsidiary of the National Australia Bank Group of companies, BNZ is governed locally by a Board of Directors and strives to help New Zealanders be good with money.
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