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Boxing Day bargains continue December spending spree

Contributor:
Fuseworks Media
Fuseworks Media

December spending is set to continue as a quarter of New Zealanders plan to search for Boxing Day deals after Christmas, according to Mastercard research.

Mastercard New Zealand’s annual research of over a thousand Kiwis has revealed that one in 10 people will hold off buying gifts until the Boxing Day sales, up from 7% in 2016 and 4% in 2015.

"This year we have seen an increase in the number of people holding off on their shopping to make the most of post-Christmas deals in Boxing Day sales. For people who have been eyeing up something specific, the days after Christmas can be a great way to find a good deal, particularly for larger purchases that aren’t time sensitive for Christmas Day," says Peter Chisnall, Mastercard Country Manager for New Zealand and Pacific Islands.

Men are more likely than women to make additional purchases on top of their Christmas shopping (29% compared to 20%), with men more likely hunt for bargains in the Boxing Day sales (42%) compared to women (32%).

The majority of Kiwis are more interested in Christmas Day itself, with half saying getting presents under the tree on the day is more important than getting a better price later (54%). Over half of New Zealanders (58%) feel as though Boxing Day sales are stressful and not worth the hassle.

"Whether you choose to buy everything for Christmas Day or deliver an IOU in a stocking, the best approach is to set a budget and understand how much you are going to spend before splashing out on gifts for friends, family and yourself," says Chisnall.

Many people will use local shops and service providers when making Boxing Day purchases (44%), but the convenience of looking from your couch means 47% of people agree it is easier to shop online than go in store for deals.

Three quarters of Boxing Day sale shoppers will scope out the deals online first (76%) before heading in store or buying online. 23% of New Zealanders plan to take advantage of online Boxing Day deals, on both New Zealand and international websites.

Most online shoppers will be using New Zealand based online retailers (17%), with some even planning to use online auction websites to buy unwanted Christmas gifts (4%).

"The fact that many New Zealand retailers have websites means people can find deals from the comfort of their own home to avoid the in-store Boxing Day rush, or as they recover from Christmas lunch," says Chisnall.

When asked how they would spend the money if Christmas was cancelled, most Kiwis would save their money in the bank (42%), put it in savings or investments (33%) or pay off debt (26%).

Others said they would go on an overseas holiday, go on a shopping spree, donate to charity or treat their grandchildren.

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