Retailers enjoy a Boxing Day bonanza

Article – BusinessDesk

Retailers enjoy a Boxing Day bonanza
By Jenny Ruth

Dec. 27 (BusinessDesk) – Boxing Day shopping proved to be another bonanza for retailers with spending through non-fuel merchants jumping 11.2 percent on the day compared with last year.

The 2.5 million transactions that day through Paymark, which accounts for more than 75 percent of electronic transactions, were worth a combined $139.5 million.

The biggest spenders were in Whanganui, up 24.2 percent, and Gisborne, up 21.4 percent while those in Nelson were relatively parsimonious with a 7.2 percent increase in spending. Those in Northland and Auckland recorded an 8.8 percent increase.

“Boxing day is of growing significance to core retailers,” Paymark says. Spending within the core retail sector, excluding food and liquor merchants and hospitality outlets, totalled $72.8 million, making it the fourth busiest shopping day of the year for this grouping, surpassed only by the Thursday-to-Saturday period before Christmas and exceeding the $69.7 million spent on Black Friday.

Home decorating stores recorded a whopping 50.5 percent increase in sales compared with Boxing Day sales last year while sales through chemists were up 33.8 percent, through watch and jewellery stores up 21 percent and through sporting equipment stores up 19.9 percent.

Sales in clothing stores were up a more sedate 7.7 percent while furniture stores lifted sales 8.4 percent.

“Noticeable this year, we also spent more beyond these core retailers, suggesting Boxing Day is becoming more than simply a bargain-hunting spree,” Paymark says.

Spending at food and liquor stores jumped 19 percent while fast food outlets’ sales rose 23.3 percent and sales at restaurants and cafes were up 17.1 percent.

Spending at Beauty and hairdresser outlets jumped 35.5 percent.

Probably no surprise, given all this largesse, spending at recycling and refuse stations was up 46.2 percent on Boxing Day last year.

(BusinessDesk)

Content Sourced from scoop.co.nz
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