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Auckland, 14 December 2009 - New Zealand shoppers will be more selective with their gift giving this Christmas, according to the latest annual New Zealand Christmas Spending Report from MasterCard.

The research shows spending on gifts for partners and children is likely to be maintained but presents for extended family members and friends will be reined in with 41% of respondents planning to spend less on extended family and 36% planning to spend less on friends.

“While the survey shows Kiwis will be more frugal with their Christmas shopping in 2009, it also shows that we are looking forward to unwinding and celebrating with our families after a tough financial year,” says Stuart McKinlay, Country Manager MasterCard New Zealand.

Eating, drinking and being merry is certainly high on the agenda for New Zealanders with 31% planning to spend more on entertaining than gifts this festive season.

39% of Kiwi respondents say they will curb their Christmas spending and stampede to the stores post Christmas to take advantage of the annual Boxing Day sales, up from 36% in 2008, spending an average of $292. “In a sign of savvy consumerism, more New Zealanders are planning to take full advantage of the traditional post Christmas sales and make their money go further in 2009.”

The average New Zealander will spend $930 on Christmas this year, slightly down on the 2008 average of $945.

New Zealanders and Australians both start their Christmas shopping early, with 67% of Kiwis and 72% of Australians beginning their Christmas shop one month prior to December 25th. 75% of shoppers from both countries will also reward their shopping efforts by buying themselves a gift this year.

Credit cards remain a popular form of payment for Christmas gifts, accounting for 26% of total expenditure. 59% of New Zealanders will also pay off their credit card bill within a month after Christmas.

“New Zealanders recognise the convenience of credit cards this time of year. More Kiwis are using their cards to buy online or over the phone and many appreciate that their spending can be tracked.”

Children appear to be the biggest cause for splurging, with the average parent expecting to spend around $1,000 this year on their kids. Those without children will spend just over $800.

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 approximately 21 billion transactions each year, and provides industry-leading analysis and consulting services to financial-institution customers and merchants. Powered by the MasterCard Worldwide Network and 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 www.mastercard.com.