Big summer for Taupo District retailers

26 April 2016

The figures are in and it's been confirmed - it was a big summer for retailers in the Taupo District.

The figures are outlined in the latest Marketview report, commissioned by Taupo District Council, show retail spending increased by 10.7 per cent in the March quarter, compared to an average increase across New Zealand of only 3.8 per cent.

The figures are based on data from the total value of electronic card retail transactions over the three month period to March 31. They have then been compared to the amount spent in the same period last year.

The report shows there was more than $160 million spent over 3.2 million electronic transactions in the district over the quarter. There were significant increases in spending in Mangakino (up 27.1 per cent) and in Turangi (up 9.8 percent), with out-of-town shoppers contributing $92.2 million to the district's economy.

Other findings of note were that Taupo District cardholders had a higher level of shopping locally (68.2 per cent) than the national average of 64 per cent. Recreational and electrical/appliances were the two fastest growing areas for spend. Online spending was down 14.3 per cent while nationally there was an increase of 6.9 per cent.

The highest total weekly spend was the week of January 3. Saturday was the day when most spending occurred with midday to 4pm the time period with the highest proportion of shoppers.

Mayor David Trewavas said the report was an interesting read. It builds on previous similar research with the added advantage of being able to share the information with local businesses and the wider public, he said.

As a council we have a strong focus on economic development and this is just one of the tools we can use to offer evidence to anyone wanting to come and set up business here.

Mr Trewavas said while there were always peaks and troughs in the retail sector, the report had certainly confirmed that tourism was a significant contributor to the economy. Spending by international cardholders increased by 19.1 per cent over the quarter and the retail spend of cardholders from other parts of New Zealand was $92.92 million, he said.

The latest Marketview report is online at www.taupo.govt.nz.

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FOR FURTHER INFORMATION CONTACT:

Lisa Nairne Communications Manager 07 376 0762 027 839 8410

Taupo District Council

www.taupo.govt.nz