Kiwis' card spending rises as Covid-19 alert levels ease

Source: 1News

Credit and debit card spending was on the rise in November, with Kiwi consumers particularly swiping on items including furniture, electronics and hardware.

A woman paying contactless with credit card.

When adjusted for seasonal effects, total retail card spending rose by $543 million, or 9.6 per cent, compared with October, Stats NZ said in a statement on Friday.

"Card sales continue to rise in November, as Covid-19 alert levels eased for upper North Island, which allowed more non-essential retail businesses to open," Stats NZ's business performance manager Ricky Ho said.

"The sharp increase in spending on furniture, electrical, and hardware coincided with Black Friday sales at the end of the month," he added.

"Black Friday promotions appear to be more popular than ever, with Kiwis spending more on durable goods such as cell phones and laptops in the lead up to Christmas."

In retail, these kinds of durable goods rose the most in seasonally adjusted terms, up $331 million, or 22.9 per cent, from last month.

Over the year, spending on durables rose $207 million, or 11.4 per cent, from November 2020.

However, there was a decrease in card spending in consumables, like groceries and liquor.

The category saw spending down $14 million, or 0.6 per cent, from October.