Card spending spurred by Black Friday and Singles Day

Wed, 11 Dec 2019

Black Friday and Singles Day sales helped boost spending on credit and debit cards in November.Total retail spending jumped a seasonally adjusted 2.6 percent in November after falling 0.5 percent in October. It was the largest increase since January 2017, when spending lifted 3.6 percent. Sales have generally been flat this year, said Stats NZ.Like Singles Day, a Chinese retail phenomenon that was widely adopted by New Zealand retailers on Nov. 11, Black Friday – a US import - has become a key shopping date.“The lift in November sales coincided...

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