This season, spending stretched far beyond New Zealand’s borders as Kiwis made online transactions in 149 countries.
Wise has released eCommerce spending data from Kiwis who used its multi-currency debit card between the 15th of November and the 15th of December 2024, capturing spending from Black Friday, Cyber Monday and the sales before Christmas, as Kiwis rushed to shop the best deals at the best prices from around the globe.
The data showed Kiwis have been spending money across borders, from Kyrgyzstan and Belize to Paraguay and Seychelles.
The top locations for international transactions made by Kiwis were:
- United Kingdom 🇬🇧
Average transaction amount: NZD 111.30 - United States 🇺🇸
Average transaction amount: NZD 134.20 - Australia 🇦🇺
Average transaction amount: NZD 104.90 - Netherlands 🇳🇱
Average transaction amount: NZD 140.30 - Ireland 🇮🇪
Average transaction amount: NZD 159.70
While the top locations for international spending have remained the same for the corresponding period of 2023, average transaction amounts increased across all five regions to varying degrees.
In the United States, the average transaction amount jumped 38 percent in 2024, while in Australia, the average increase was just four percent. This year, the number of countries Kiwis purchased from increased by 2.8 percent, from 145 to 149.
Tristan Dakin, Country Manager at Wise, said this increase in international spending was not surprising, given the rising costs of doing business and the extended Black Friday sales period this year.
“This year’s Black Friday sales started earlier in November and extended further into December, which no doubt came as a welcome relief to the many Kiwi families who’re still feeling the pinch of the cost of living crisis in the lead-up to Christmas,” said Dakin.
“It shows that during challenging economic times, Kiwis are looking far and wide to find the best bargains to make their money go the extra mile. Borders are no barrier, especially for those who know how to avoid expensive bank fees on international transactions.”
Traditional banks commonly charge users a currency exchange transfer fee, an exchange rate markup, and upfront transaction fees. These fees, known as foreign and/or international transaction fees, can range from two to five percent of the total transaction amount.
“Far too many Kiwis are caught out by these hidden and often unfair international transaction fees when purchasing online. The good news is that six percent of Kiwis are now using Wise, and more and more are wising up to smarter spending when it comes to international purchases.”
Dakin added that whether you’re shopping for two, three, or ten people this Christmas, avoiding unnecessary online fees can make for a much merrier and cheaper festive season.
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