Electronic card transaction data covers the use of credit or debit cards in shops or online. Photo: 123RF
Retailers say a drop in retail card spending in December, usually the busiest month of the year, will be a real worry for businesses.
Stats NZ figures show retail card spending fell 2.5 percent in December over November - falling $166 million in December, the first drop in nine months.
Stats manager Ricky Ho said retail card spending rose 4.8 percent in actual terms over the year earlier, but was down after adjusting for normal seasonal patterns.
Sales of durable goods fell the most at 5.7 percent, including items such as furniture, hardware, and appliances.
Spending on fuel and apparel was also down 4.3 percent.
The only spending category that saw an increase was groceries and liquor, which rose 1.5 percent.
Electronic card transaction data covers the use of credit or debit cards in shops or online and includes both retail and services industries.
Retail NZ chief executive Greg Harford said the results were consistent with what it has been hearing from its members, and many businesses were under considerable pressure.
He said December and November were typically the months in which retailers made their money, and the drop would make it harder for businesses to sustain themselves.
