Total actual retail card spending across New Zealand’s core retail sector fell 0.5 per cent in December 2025 compared to the same month in 2024.
This is according to Stats NZ, which show electronic card transactions hit NZ$7.82 billion last month, down from NZ$7.86 billion in December 2024.
The CEO of peak body Retail NZ, Carolyn Young, said this new data released today proves it was a disappointing month for retailers.
"The dip in card spending will come as a disappointment to retailers after seeing a 1.6 per cent increase in November, where shoppers took advantage of Black Friday sales,” Young said.
“Unfortunately, that spending has not continued into December, a critical sales period for retail with the lead up to Christmas and Boxing Day sales, which many businesses rely on to support them through the quieter months in the year ahead."
The fashion sector took a stronger hit to declining sales, with actual monthly sales in the apparel sector down 3 per cent to NZ$495 million. That is down from NZ$510 million in December 2024.
Durables – think household goods – had the largest fall in spending, down 4.3 per cent to NZ$2.3 billion. However, consumables experienced a 2 per cent lift, which Young attributes to inflation and price increases in groceries.
In month-on-month terms, total actual spending in core retail was up 13.3 per cent between November and December 2025. Apparel spending lifted 20.8 per cent in the same monthly timeframe.
"The proportion of credit card transactions (versus debit card) was also up compared with November, indicating consumers have not had the same levels of disposable income heading into the holiday season,” Young said.
“It suggests the optimism we're hearing from businesses is not translating through to shoppers, where the cost of living seems to be a continued stress on New Zealand households."
Young said retailers will be bracing for a possible rocky few months ahead of them, “with the potential for rises and falls in spending month-to-month."
In seasonally adjusted terms, which excludes seasonal fluctuations, apparel spending was down 3.6 per cent from November 2025 to December 2025. Stats NZ figures also show that spending in apparel has been trending downwards since September.