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Press Release – TransferWise Spending data across transactions made on the TransferWise multi-currency debit card revealed Boxing Day was hit below the belt last year, proving itself no match for the growing popularity of Black Friday and Cyber Monday. Boxing Day, long heralded …
Spending data across transactions made on the TransferWise multi-currency debit card revealed Boxing Day was hit below the belt last year, proving itself no match for the growing popularity of Black Friday and Cyber Monday.
Boxing Day, long heralded as the premier shopping date on New Zealand’s retail calendar, saw a 63% decrease in sales compared to November’s Black Friday and 53% to Cyber Monday.
Tim
Cameron, TransferWise Country
Manager:
“It’s fascinating to see the
decline of Boxing Day as Black Friday and Cyber Monday
become more and more popular in New Zealand. It looks like
Kiwis no longer want to wait until after Christmas to score
themselves a bargain.
“In such a challenging year,
it’s fantastic to see the majority of spending staying
within New Zealand. However, for those offshore purchases
it’s more important than ever for Kiwis to avoid pesky
currency conversion fees that come with using traditional
bank cards when online shopping. We think it’s better to
keep that money in your back pocket rather than giving it to
Good morning!
Some analysts are looking past the current ugliness of COVID-19 spread and slow vaccine rollouts across the world, and believe the trillions of dollars in fiscal stimulus, low interest rates and a global focus on climate change would trigger a new commodity super cycle.
“In the medium to long term, we believe that severe under-investment in new capacity in the context of a declining existing production base combined with growing demand from global decarbonization efforts has set the stage for the next commodities super cycle ahead,” Orest Wowkodaw, analyst at Scotia Capital Inc., said in a note to clients on Monday.
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