Kiwis Spending Across The Globe: Black Friday Transactions Made In 86 Countries

Black Friday and Cyber Monday online spending stretched far beyond New Zealand in 2022, with Kiwis making transactions in 86 countries across the world.

This is a stark 41% increase in the number of countries compared to the same period last year, showing that as the cost of living increases, Kiwis are hunting far and wide to find the best deals and save a bit of cash.

Today Wise, the global technology company building the best way to move money around the world, has released eCommerce spending data from New Zealanders using the multi-currency Wise debit Card.

The data revealed Kiwis are spending money everywhere from Armenia and Belarus to Nigeria and Zimbabwe.

The most popular locations for international transactions were:

1. United Kingdom
   • For Kiwis shopping in the UK, the top purchases were made with electronics / software stores, department stores and with business services
2. Australia
   • For Kiwis shopping in Australia, the top purchases were made with record shops and electronics / software stores
3. United States
   • For Kiwis shopping in USA, the top purchases were made with electronics / software stores, art, photography & graphics stores and bookstores
4. Netherlands
   • For Kiwis shopping in the Netherlands, the top purchases were made with limousine companies, restaurants, hotels and electronics / software stores
5. Singapore
   • For Kiwis shopping in Singapore, the top purchases were made with professional service providers and electronics / software stores

Tristan Dakin, Wise’s New Zealand country manager, says he’s pleased to see many Kiwis being savvy with their international spending.

“It’s encouraging to see plenty of Kiwis both at home and abroad using international currency cards for foreign transactions and not falling victim to hefty fees from their bank cards on every single transaction.

“As international online shopping increases over the Christmas period and as more people head overseas during the holidays, I hope to see more and more New Zealanders saving money by paying in the local currency and avoiding marked up exchange rates and other hidden fees.”

Tips on how to avoid hidden fees

Always pay in the local currency to avoid ‘dynamic currency conversion’ that happens each time you’re presented with the option to either pay in local currency or your home currency. E.g when shopping from a US retailer, pay in USD rather than NZD to avoid the retailer using their own currency conversion.

Avoid using a bank card on foreign purchases. Whether you’re paying in your home currency or the merchant’s local currency, most banks charge what’s known as foreign or international transaction fee, which often ranges from 2-5% of the total transaction amount.

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