New Zealand based online retailers can rejoice, as new data shows a boost in the country’s local spending. The Bank of New Zealand gathered the research and showed online retail spending with local retailers increase by 30 percent over the last corresponding period.
The data was pulled from the three months leading up to April and joined a 7 percent overall rise in online spending in New Zealand. Gary Baker, director of institutional research at Bank of New Zealand released a statement explaining the trend.
“One influence is the NZ dollar, which is tracking around 7 per cent lower versus the USD than it was a year ago,” stated Baker. “This makes offshore purchases more expensive for Kiwis.”