– CuscalPaymark release
Consumer spending in October continued the mixed picture seen in recent months, with new Paymark data showing retail spending still below last year as the Christmas period approaches.
Core retail spending through Paymark’s network reached $3.682 billion in October 2026. After adjusting for merchants moving to or from the network, that was down 1.0% on October 2025.
Paymark Chief Sales Officer Bruce Proffit says the figures reflect the challenging conditions retailers have faced for much of the year. Spending on groceries and petrol remained ahead of last year, while most other retail categories were lower. With Christmas close, he says retailers will be hoping events such as Black Friday bring more shoppers through their physical and digital doors.
Regional spending
Gisborne recorded the strongest annual growth in core retail spending in October at +1.9%, followed by Palmerston North (+1.7%) and Wairarapa (+1.6%).
The largest declines were in Marlborough (-9.4%), Bay of Plenty (-3.3%) and Canterbury (-2.4%). Auckland/Northland, the biggest region by value at $1.373 billion, was down 0.6%.
Online EFTPOS
Paymark’s monthly update now includes Online EFTPOS for the first time. It lets shoppers pay online directly from their bank account, without needing a debit or credit card.
Spending through Online EFTPOS reached $33.4 million in October, up 6.8% on October 2025. Proffit says digital payments continue to grow as more New Zealanders shop online, and that Online EFTPOS gives merchants a lower-cost alternative to card payments. Paymark expects online activity to increase through Black Friday and the Christmas shopping period.
Figure 1: All Cards NZ underlying* spending through Paymark in October 2026 for core retail merchants (* Underlying excludes large clients moving to or from Paymark)
A note for hospitality
Paymark’s figures cover core retail merchants rather than hospitality. For a view of hospitality spending specifically, visit our Hospitality Spending Insights Portal.
Source: Paymark, “Retail spending remains subdued ahead of Christmas”, 10 November 2026.