Kiwis are planning to spend up large on food, entertainment and electronics after a year of tightening the purse strings. Photo / Herald on Sunday
Kiwis are planning to spend up large on food, entertainment and electronics after a year of tightening the purse strings. Photo / Herald on Sunday
Kiwis are planning to splash out following a year of recessionary woes, a survey reveals.
Good food, entertainment and electronics are among the top luxury items New Zealanders will spend their spare cash on in the next six months, the latest MasterCard Survey of Consumer Purchasing Priorities shows.
The twice-yearlysurvey shows 59 per cent put dining and entertainment at the top of the list.
That's followed by fashion and accessories, at 47 per cent, and consumer electronics at 36 per cent.
Stuart McKinlay, of MasterCard Worldwide, said it was interesting to see how New Zealanders were looking to spend their money in the new year - given a relatively hard 12 months when people cut back discretionary spending.
"This might reflect that people see the coming year as a chance to treat themselves - after a conservative 2009 saw them tightening purse strings as the global economy cooled and confidence softened."
Mr McKinlay said people were heading back into shops mostly to buy entertainment products and those that would make their lives easier.
In November 2008 the survey showed that 44 per cent of New Zealanders intended to cut back on their discretionary spending in 2009.
But even as the economic woes loomed, Kiwis continued to put a priority on dining and entertainment - at 74 per cent - probably as a means of treating themselves in uncertain times, Mr McKinlay said at the time.
The results were similar to those from a survey in Australia where dining and entertainment, as well as fashion and accessories, featured in the top ranks.
Up to 61 per cent of Australians picked dining and entertainment as their top spending priority in the next six months, while 48 per cent rated fashion and accessories top.
Thirty-six per cent of Australians looked to spend their money on electronics - the same as New Zealanders.
