22 January 2026

The latest card spending data shows December was a disappointing month for retailers, Retail NZ Chief Executive Carolyn Young says.

Stats NZ’s latest Electronic Card transactions shows total actual retail card spending dropped by 0.5% year on year.

“The dip in card spending will come as a disappointment to retailers after seeing a 1.6% increase in November, where shoppers took advantage of Black Friday sales. Unfortunately, that spending has not continued into December, a critical sales period for retail with the lead up to Christmas and Boxing Day sales, which many businesses rely on to support them through the quieter months in the year ahead.”

“Durables, down 4.3%, and apparel, down 3%, took the biggest hits compared to spending in December 2024, though consumables did experience a 2% lift which continues a positive trend through most of 2025, much of which will be attributable to inflation and price increases in groceries” Ms Young says.

“The proportion of credit card transactions (versus debit card) was also up compared with November, indicating consumers have not had the same levels of disposable income heading into the holiday season. It suggests the optimism we’re hearing from businesses is not translating through to shoppers, where the cost of living seems to be a continued stress on New Zealand households.”

“Retailers will be bracing for a possible rocky few months ahead of them, with the potential for rises and falls in spending month-to-month.”

For further information or to set up an interview please contact Carolyn on 021 449 452

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