Summer brings spending spree

Cafe 88's Harland Muntou and Hannah Lennie have been busy during summer. Photo / Ruth Keber

Businesses in the Bay of Plenty are reaping the rewards of a bumper start to the year as residents and visitors splashed out.

According to Paymark statistics, Bay of Plenty residents spent $315.9 million in January 2015 - a 5.6 per cent increase on January 2014.

An 11 per cent increase was also recorded in the number of transactions made through the network, totalling 6.79 million.

Hotel Armitage manager Sarah Baxter said the accommodation sector was booming last month in Tauranga thanks to a busy holiday season.

"It has been pretty much jam-packed all throughout January," she said. "And it's not looking too bad through February so far. We have quite a lot of group bookings and, with the music festivals going on, we have been busy. We also have a busy Waitangi weekend.

"All the local events really do help the accommodation sector."

Ms Baxter said a large majority of the hotel's customers had been families on holiday.

"We have had quite a few families through especially when the kids were off school but I am sure it will quieten down in the next few weeks now that school is back on."

Cafe 88's Laura Pwoney said the establishment had been kept busy in recent months. "Anniversary weekend was probably our biggest weekend but it has been consistent through the whole summer." Nationwide, New Zealanders spent an extra $235 million more last month than in January 2014 - a 5.5 per cent increase.

The Paymark data showed $4.5 billion changed hands by eftpos in the first month of 2015.

There was also a 9.7 per cent increase in the number of transactions recorded, totalling 94.54 million. Paymark head of customer relations Mark Spicer said the growth was expected to continue throughout the year.

"Even with low fuel prices pulling the growth rate down, it's a good solid start to the year," he said.

"The increase in the value and volume of transactions in January are good indicators that we can expect continued growth during 2015."

The biggest spending day was Friday, January 30, with $174.3 million processed through the Paymark network - up 3.4 per cent on the same Friday in 2014. Meanwhile, mixed spending patterns were recorded on the two major anniversary weekends in Wellington and Auckland.

A decrease in spending of -0.4 per cent was recorded on Wellington Anniversary weekend, compared to the same time in 2014, while the opposite was true of Auckland Anniversary weekend. Spending in Auckland and Northland totalled $144 million - up 6.9 per cent on the same three days last year.

What do you think?
Have your say below or email editor@bayofplentytimes.co.nz, go to our facebook page, text 021 241 4568 BOP (message) or write to Private Bag 12002.
Response may be published.