Christmas Spending Habits In 2017

Christmas Spending Habits In 2017
Kiwis take Christmas, and their Christmas shopping, very seriously. Perhaps a bit too seriously, with Kiwis’ Christmas spending only increasing ever year. Is your business ready for Christmas? Let’s take a look at New Zealand’s spending habits from Christmas 2017 and some useful tips to help you prepare for this year’s season of giving.

Pre-Christmas Sales

Christmas spending in 2017 kicked off on Black Friday as NZ rode the western wave of special sales late in November. Due to early Black Friday deals and sales, many Kiwis did their Christmas shopping early to avoid the brunt of the Christmas rush. From then on, spending quickly ramped up, especially in the retail sector. During Christmas week, Paymark recorded 596,373 transactions on mid-day Thursday (the 21st of December), a record-breaking number for the company. That day also saw a total of $282.4 million purchases on Paymark’s network alone.

Boxing Day Numbers

Last year, New Zealand stores slashed their prices by up to 70 per cent for their Boxing Day revelries. From the big retail malls of Westfield to various The Warehouse stores and big brands nationwide, stores competed to give their customers the best possible deals for their products and services. $139 million worth of Boxing Day transactions went through the Paymark network last year.

Useful Tips to Prepare Your Business for Xmas 2018

  1. Start early.

Black Friday sales are becoming more of a thing out here in New Zealand, despite it being more of a western holiday. Offering Black Friday deals will let you cater to the early birds of Christmas shopping. Plus, you’ll be able to spoil some of your international customers as well. Don’t be afraid to start offering deals this early on, because chances are your competition will be doing the same.

  1. Hire enough staff.

If you work at a brick and mortar store, hiring Christmas staff is a no-brainer. The Christmas season always brings in more traffic, and you’ll need the staff to provide the best service you possibly can. On top of providing better customer service, you’ll also gain more sales and even improve security in store.

  1. Keep stock levels high.

There’s nothing worse than not having the exact product that your customer wants and seeing the disappointment in their faces. If you don’t have enough stock, you’ll risk losing that potential sale, and even risk losing that customer to a different retailer entirely. Most people will opt for quick solutions during the mad Christmas rush, so keep stock levels high in the Christmas season to retain customer loyalty and build new customer relationships.

  1. Offer gift-wrapping.

A lot of people these days don’t have the time to wrap all their presents, nor do they even want to. Offering professional, branded gift wrapping will give your product that little boost it needs that won’t just enhance its gifting aesthetic, but also its marketing value.

  1. Make sure your POS system is in tip-top shape.

Never take your point of sale system for granted. When you’ve got a long queue of Christmas shoppers, you don’t want to lose them because your POS stopped working! Make sure all your software is updated and all your hardware has undergone recent maintenance to ensure it keeps working in the most crucial of business moments. We’ll ensure your customers are satisfied this Christmas season! POSCOM offers the best in POS system solutions including providing the latest EFTPOS terminal technologies and the largest support infrastructure in New Zealand, so you can be sure you’ll get help when you need it most even during the holidays. Let us help you make the most of the holiday season and contact us today!