Kiwi card spending up but showing signs of a slowdown

Stats NZ data shows Kiwis spent up across all retail categories last month. Photo / Alex Burton.

Electronic card spending in June was up across all retail categories, with the smallest increase in food spending.

Stats NZ today said spending in retail industries increased 1 per cent between May and June ($68 million), while spending in core retail industries was unchanged.

Unlike trends seen in the first half of the year, spending on consumables recorded a small increase, up just 0.2 per cent ($5m).

Spending on fuel had the biggest jump, up 3.8 percent ($20m) in June on May followed by spending on motor vehicles which was up 2.4 per cent ($5.1m).

Apparel shoppers spent 2 per cent ($6.6m) more with durables spending up 0.5 per cent ($8.2m).

The non-retail spending in June was up 2.8 per cent ($60m) on May with the services category up 1.4 per cent on ($5m).

The total value of electronic card spending, including non-retail categories was up 1.3 per cent or $119m on May overall.

In actual terms, cardholders made 161 million transactions across all industries in June 2023, with an average value of $55 per transaction.

The total amount spent using electronic cards was $8.9 billion.

June quarter

In the June quarter, spending in retail industries was up $124m (0.7 percent) with spending in core retail up $131 million (0.8 per cent).

Consumables, durables and motor vehicle spending were up 2 per cent ($152m), 1.1 per cent ($58m) and 0.8 per cent ($5.1m) on the previous quarter.

Apparel and fuel spending were down 3.4 per cent ($35m) and 7.2 per cent ($121m) from the March quarter.

Non-retail spending in the June quarter was up $390m (6.4 per cent) and spending on services was up $26m (2.5 per cent).

The total value of electronic card spending, including the two non-retail categories (services and other non-retail) increased by $61 million (0.3 percent) compared with the March 2023 quarter.

Year on year, hospitality was up $340 million (10.4 per cent) compared with the June 2022 quarter.