South Taranaki Retail Spending Strong
Friday, March 02, 2018
Latest data has revealed that retail spending in South Taranaki continued to grow 7.2% in the last six months of 2017, compared to the same period in 2016, well up on national growth of 5.6%.
A total of $106.12 million went through South Taranaki tills in the six months to Dec 31, peaking at $21.22 million in December, followed by $18.07m in November.
“This sends a very positive signal about the economic health of the District,” says South Taranaki Mayor Ross Dunlop.
The volume of transactions also saw a 6.4% increase, with a more modest 0.8% increase in transaction value (average $38.64). The biggest spend continued to be in the food retailing sector (such as supermarkets), while clothing/appareland accommodation saw the strongest growth against last year.
President of the Opunake Business Association, Bob Clark, says it was pleasing to see increased spending across the District.
"Anecdotally I've been told that retail sales in Opunake were good, partly I think, because it's been a great summer and people have been staying longer," says Bob.
Bizlink Hawera (the Hawera Business Association) Chair, Gerard Langford, says the result is very encouraging and reflects the positive vibes the Association is getting from the business community.
“Importantly the trend that was set in the first 6 months of 2017, when retail spending grew almost 9%, has been maintained. The fact that residents spent around $47 million outside the District also suggests there are still plenty of opportunities for businesses to establish and grow in South Taranaki,” says Mr Langford.
“With a number of new businesses opening in Hawera and several key private and Council projects about to get underway, there is a real air of optimism about the town’s future,” he says.
This sentiment is shared by Mayor Dunlop.
“We’re seeing a number of private business developments getting underway in the town centre, which I think endorses Council’s decision to invest in our main central business district as a catalyst for growth.”
The data is independently surveyed by Marketview for Venture Taranaki, and includes spending across eftpos, debit and credit cards through Paymark merchant terminals.
Numbers at a glance:
- $106.12 million was spent in the South Taranaki District in the second 6-months of 2017
- This is up 7.2 % on the same period last year
- There were 6.4 % more transactions than the same period last year
- The average transaction value was $38.64, up 0.8 %
- 83 percent of South Taranaki expenditure was by South Taranaki residents
- South Taranaki residents spent an estimated $47m outside South Taranaki