MasterCard Survey Shows Men Spend More Than Women And Kiwi’s Are Practicing ‘Responsible Retail’
Auckland, 25 November 2008 – Kiwi consumers are being more cautious with Christmas spending this year, however men are planning to spend 42 percent more than women in the post Christmas sales according to the MasterCard Worldwide Christmas Spend Survey released today.
The nationwide online survey of 521 people aged 18 and over was conducted in October 2008. It was undertaken to determine spending trends and to examine consumers’ spending habits. The Christmas Spend Survey is part of MasterCard’s global research series and does not in any way reflect MasterCard’s financial performance.
Stuart McKinlay, country manager, New Zealand, MasterCard Worldwide, said it was interesting that this year’s MasterCard Christmas Spend Survey showed Kiwi males are the spenders over the festive season.
“Kiwi men will be the ones out looking for post Christmas bargains this year and have indicated they plan to spend $100 more than women in the sales, while women plan to spend slightly more than men leading up to Christmas. But overall men are still planning to spend more in total over the Christmas period. How’s that for challenging the shopping stereotype?”
Christmas continues to be a major expense for Kiwis, with the average consumer planning to spend $945 over the festive season; however 85 percent of Kiwis say they plan to curb their spending this year as a result of the global financial situation.
Kiwis are not alone with being cautious this year - across the Tasman 83 percent of Australians are also planning to cut back on spending this Christmas.
McKinlay said it’s heartening to see Kiwis taking a responsible approach to their Christmas budgets.
“What’s really positive is that the majority1 of consumers who are planning to put purchases on credit cards are also planning to pay off their purchases within three months.”
The growing popularity of online shopping was highlighted in the survey results with just over half (53 percent) of Kiwis with internet access intending to do some of their Christmas shopping online. This is up significantly from the 32 percent of consumers who shopped online last year.
“The survey showed there are many reasons why Kiwi internet users are choosing to shop online - with the most common reason being convenience. New Zealand consumers like that they can shop from the comfort of their home and that online shopping is available 24 hours, seven days a week. Online shoppers also like that they can avoid the crowds and two thirds say they prefer internet shopping as it’s cheaper,” added McKinlay.
MasterCard Worldwide Christmas Spend Survey Highlights
For those wanting further budgeting assistance this Christmas, visit MasterCard’s Budget Basics website www.budgetbasics.co.nz for free, easy-to-understand debt management tools designed to help successfully manage budgets and reduce debt.
Top tips to manage your budget this Christmas
About MasterCard Worldwide Christmas Spend Survey
The MasterCard Worldwide Christmas Spend Survey is conducted by Galaxy Research, one of Australasia's leading qualitative and quantitative research companies. This MasterCard Worldwide Christmas Spend survey has been conducted for four years in New Zealand and is undertaken to determine trends in consumer spending during the Christmas period. It does not represent MasterCard financial performance. The online survey of 521 people aged 18 years or older was conducted during 28 – 31 October 2008.
About MasterCard Worldwide
MasterCard Worldwide advances global commerce by providing a critical economic link among financial institutions, businesses, cardholders and merchants worldwide. As a franchisor, processor and advisor, MasterCard develops and markets payment solutions, processes over 18 billion transactions each year, and provides industry-leading analysis and consulting services to financial institution customers and merchants. Through its family of brands, including MasterCard®, Maestro® and Cirrus®, MasterCard serves consumers and businesses in more than 210 countries and territories. For more information go to http://www.mastercard.com.