"People have been snapping up bargains well beyond our expectations," he said.
"It started [on Thursday] night online and has continued through [yesterday] including queues outside our stores this morning."
Paymark was unable to provide official electronic sales figures yesterday, but retailers said customers were rushing to snap up the sales.
"As of 1pm [yesterday] our sales revenues are light years ahead of where we were this time last year," said Mr Watt.
Retail NZ spokesman Gary Harford said Black Friday sales were growing in popularity here. "It's been picked up by more and more retailers, which shows it's very successful for those taking part in it and that customers are increasingly taking part too."
Bargains included a $400 reduction on a 50" television at The Warehouse, $380 off a Microsoft Surface Pro tablet/laptop at Noel Leeming and a $500 saving on a five-person tent from Kathmandu.