Press Release – Paymark
Paymark figures reveal a continued mixed retail sector. Underlying spending through Accommodation merchants across the network in the June quarter was $0.3 billion, up 162.5% on the same quarter last year but still 13% below the pre-Covid levels of 2019. The sector had suffered badly during in the typical busy quarters ending March 2021 (36.5% below 2019) and December 2020 (30.3% below 2019).
In contrast, the rest of the Core Retail sector have consistently reported spending above 2019 and 2020 in recent months. Spending for the Core Retail excluding Accommodation merchants through Paymark was $10.9 billion in the June quarter, up 29.1% on 2020 and, significantly, up 11.4% on the 2019 pre-Covid levels.
All Cards NZ underlying spending through Paymark for core retail merchants monthly trend ( Underlying spending excludes large clients moving to or from Paymark)
Business Scoop » A Wave Of Spending At Home
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A Wave Of Spending At Home | Scoop News
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Bad news for the South Island, in new Easter Paymark figures
Bad news for the South Island, in new Easter Paymark figures 3 May 2021
Figures compared to Easter 2019 show pre-Covid spending at Core Retail merchants in the South were just over one percent higher than 2019 levels but in the North Island, that was up more than six percent.
In Southland, spending was down two percent annually when compared to 2019 and it Otago it dropped 6.5 percent.
And Wairarapa s come out on top with spending more than 15 percent up on Easter 2019.
Underlying spending excludes large clients
moving to or from
Paymark
Figure 1: All
Cards NZ underlying spending through Paymark for core retail
merchants by region around Easter ( Underlying spending
excludes large clients moving to or from
Paymark)
Looking back at spending patterns through
Paymark over the last 12 months, the impact on spending has
been understandably mixed since the first Covid-19 lockdown
in March 2020. There was the sharp drop in total spending
through Paymark in April 2020 for all Core Retail merchants
with the exception of supermarkets. Come June 2020, the Core
Retail group, now with the exception of Accommodation
merchants, tracked around 7% above 2019 levels for the rest