Big Jump in South Taranaki retail spend

Big Jump in South Taranaki retail spend

Monday, September 04, 2017

New data has revealed that retail spending in South Taranaki grew 8.9 percent in the first six months of 2017, compared to the same period last year, well up on regional growth of 5.7 percent and national growth of 4.8 percent.

A total of $98.11 million went through South Taranaki tills in the first half of the year, peaking at $17.11 million in May, followed by $17.02m in June.

“This sends a very positive signal about the economic health of the District,” says South Taranaki Mayor Ross Dunlop.

The most spent was with food retailers, such as supermarkets, while clothing and apparel saw the strongest growth against last year. Fuel and furniture and homeware also saw strong growth.

“It’s heartening that 82 percent of the money spent in our District is spent by local residents, though the fact that they also spent a total of $47 million outside the District also suggests there are still plenty of opportunities for businesses in South Taranaki,” Ross said. “It also gives us confirmation and confidence that the investment the Council is making upgrading the Central Business area is the right thing to do and it is also encouraging private businesses to invest also.“

The data is independently surveyed by Marketview for Venture Taranaki, and includes spending across eftpos, debit and credit cards through Paymark merchant terminals.

At a glance:

$98.11 million was spent in the South Taranaki District in the first 6-months of 2017

This is up 8.9 percent on the same period last year

There were 7.6 percent more transactions than the same period last year

The average transaction value was $38.03, up 1.2 percent

82 percent of South Taranaki expenditure was by South Taranaki residents

South Taranaki residents spent $46.54m outside South Taranaki