Bay spending up on housing and takeaways

More people are spending money on housing and takeaways as the latest figures indicate more people shopping in the Bay of Plenty than any other region in New Zealand.

Paymark figures for October were released this morning, showing the Bay experienced a 8.7 per cent increase in transactions compared with the same month in 2013. The volume difference is the highest out of all regions.

The Bay also experienced a 7.7 per cent increase in spend, with Bay shoppers spending $288.3 million compared to $267.6m the previous year.

The increase in spending was felt nationally, with retailers selling building supplies, hardware, appliances and furniture experiencing plenty of interest. Nationally, spending was up 8 per cent.

Strong growth was also felt at accomodation and takeaway outlets.

Paymark's head of sales and marketing Paul Whiston said the housing-related growth was most noticeable in the Bay of Plenty, Canterbury, Waikato, Auckland and Northland.

"The number of monthly card transactions was 8.2 per cent higher than last October and we've seen unprecedented growth in the use of contactless payments,' Mr Whiston said.

''Paymark processed 700,000 contactless transactions in October 2013. This October we've processed three million contactless payments - a 300 per cent increase.''

Other sectors to experience a growth in spending during October include accommodation, hospitality and takeaways. It wasn't great news for clothing retailers however with spending down on this time last year.

With Christmas fast approaching, the increase in transactions may reflect some early Christmas shopping but it's too early to see any marked trends. Traditionally, Paymark sees a substantial increase in spending through its network in December and early January.