Consumers yet to cool their jets

Consumers are continuing to open their wallets, despite rising prices and interest rates. (Image: Unsplash)

Wed, 12 Apr 2023

Retail spending on electronic cards increased by 0.7% in March, compared with February, on a seasonally adjusted basis.Monthly card spending totals are adjusted for seasonality, but not for inflation. The most recent inflation data from the December quarter was 7.2% annually or 0.6% per month.When spending in the non-retail (excluding services) category, which was up by 11.3%, is included there was a 3.1% increase in total card spending.The non-retail category includes travel and tour arrangement, which has seen a big boost since the re-opening...

Subscribe to BusinessDesk

Stay informed on business, government and financial developments across New Zealand.

Deeply researched, twice-edited and fact-checked news
Annual subscribers also receive a complimentary subscription to The Wall Street Journal
Personalised email news alerts, plus gift up to 5 stories a month to non-subscribers

You can cancel anytime.

We are serious about journalism.

Already a Subscriber ? Sign in here.

Name {{ registerForm.errors.get('name') }}

Email address {{ registerForm.errors.get('email') }}

Phone Number {{ registerForm.errors.get('phone') }}

Job Title {{ registerForm.errors.get('title') }}

Password Minimum password length of 8 characters.
Require at least one upper and lowercase, numeric, and special character. {{ registerForm.errors.get('password') }}

Repeat password {{ registerForm.errors.get('password_confirmation') }}

We had trouble validating your card. It's possible your card provider is preventing us from charging the card. Please contact your card provider or customer support.

Credit Card

Cardholder's name

{{ __(plans[index].name) | capitalize }} {{ plans[index].attributes.old_price | currency }} {{ plans[index].price | currency }}

All subscriptions auto renew but are easy to cancel.

I Accept The Terms Of Service

{{ registerForm.errors.get('terms') }}

Tax: {{ taxAmount(selectedPlan) | currency }}

Total Price Including Tax: {{ priceWithTax(selectedPlan) | currency }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerSeat ? '/ '+ spark.seatName : '' }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerTeam ? '/ '+ __('teams.team') : '' }} / {{ __(selectedPlan.interval) | capitalize }}

Markets Market Close

NZ sharemarket finishes flat, down 0.1%

The S&P/NZX 50 Index closed at 13,480.43, down 19.42 points or 0.14%.

Graham Skellern 25 Nov 2025

Policy

Govt proposes major council overhaul

Regional councillors to be deposed, mayors empowered, and amalgamation put on the table.

Thomas Manch 25 Nov 2025

Infrastructure

Govt drops Cook Strait rescue vessel plan

A detailed business case raised costs from $80m to $259m in just four months.

Thomas Manch 25 Nov 2025

Govt drops Cook Strait rescue vessel plan

Sponsored

Spark Accelerate: Are you ready for exponential AI growth?

Spark

Sponsored

Cybersecurity skills gap leaving Kiwi businesses at risk - report

A cybersecurity skills shortage is creating additional cyber risks, according to a new global report.

Fortinet

More Economy

Economy

Co-operative Bank remediates thousands of customers

Co-operative Bank has remediated a total of $7.2 million across almost 50,000 customers for charging higher fees than it should have and may yet have to pay a court-imposed fine.The Commerce Commission said the charging of higher fees breaches the Credit Contracts and Consumer Fi...

Andy Macdonald 25 Nov 2025