Card spending dips in December but momentum still strong

Card spending dips in December but momentum still strong
Rebecca Howard
Consumers may have spent less in December after hitting the shops in November, but momentum remains strong as low interest rates continue to spur spending.Total retail spending fell a seasonally adjusted 0.8 percent on the month in December after lifting 2.9 percent in November. December’s fall in retail sales does not signal weakness in household spending, but a shift in the timing of spending to events, said Westpac Bank senior economist Satish Ranchhod.ASB senior economist Mark Smith said that “consumers are heeding the RBNZ’s advice to...

More Retail

ComCom still concerned at loss of competition from Foodstuffs merger
Retail

ComCom still concerned at loss of competition from Foodstuffs merger

The regulator is seeking submissions on unresolved issues with the proposed merger.

Staff reporters 16 Jul 2024
June card spending data bleak, says economist
Retail

June card spending data bleak, says economist

Retail spending fell a seasonally adjusted 0.6% in a month to $6.4 billion.

Gregor Thompson 12 Jul 2024
Warehouse Group to cut jobs at its head office
Retail

Warehouse Group to cut jobs at its head office

The company had already indicated last month that it was looking to trim staffing.

Gregor Thompson 12 Jul 2024
Me Today China licensee sells $5.3m of stock in two days
Retail

Me Today China licensee sells $5.3m of stock in two days

It's more than triple the revenue the Me Today brand made in the six months to Dec 31.

Gregor Thompson 11 Jul 2024