Black Friday sales paid off for New Zealand retailers, new data shows.
The shopping event, which originated in the United States, takes place on the Friday after Thanksgiving. It is followed by Cyber Monday.
It has now reached New Zealand shores. Spending at non-food retail shops through the country’s electronic Paymark network was 54 per cent higher on November 23 than they were the Friday before.
It was also 20 per cent higher than Black Friday 2017.
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There was $69.7 million through the tills, more than the $68m recorded on Boxing Day 2017. Paymark warned that Boxing Day this year was likely to be busier again.
Spokesman Paul Brislen said it was increasingly being pushed by retailers.
“It works in well with the lead-up to Christmas. I’ve done most of my shopping already and that’s unheard of. There’s also no sign that it’s impacting on Boxing Day sales at this point – what it does to Christmas Eve remains to be seen, of course.”
Spending on Saturday through Paymark at the same merchants was up 15.9 per cent on the previous Saturday and 8.3 per cent on the same Saturday 2017. Combined spending over the two days was 14.5 per cent.
Both days for these merchants were still below the days before Christmas Day when spending last year peaked at over $82m per day. Spending through these core non-food retailers was only around 29% of spending through the Paymark network over Friday and Saturday.
In total, spending through Paymark was $442m over the two days, up 6.5 per cent on last year.
Liisa Matinvesi-Bassett, New Zealand country manager for price comparison website PriceSpy, said some of the deals were less than might have been expected.
The average discount on the site was 12 per cent per product, 5 per cent less than last year.
“However, nearly a quarter of overall products (23 per cent) received a price reduction and just five per cent received a price increase (half of that seen from the previous two years). In terms of what people were looking to buy, the most ‘searched for’ shopping categories were mobile phones, headphones and game consoles and the most popular products were the Sony PlayStation 4 Pro 1TB, Apple AirPods and the Nintendo Switch.”
Total spending through Paymark on Black Friday was $238.2m, up 8.8 per cent on Black Friday 2017.
Spending growth was very strong among some of the provincial centres, including Wanganui (17 per cent) and Gisborne (16.7 per cent), although not so strong further south at South Canterbury (7 per cent) and Southland (7 per cent).
The lowest annual growth rate on Friday was recorded in Waikato (6.3 per cent).
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