A new report from NZ Post has revealed shoppers spent NZ$1.73bn (US$984m) online between October and December 2024, a 9% increase on the same period in 2023.
According to the post’s e-commerce insights report, the biggest contributor to the growth was an increase in transactions – there were 18.3 million transactions in Q4 2024, making this the highest number of quarterly online transactions seen since NZ Post started monitoring markets six years ago.
The report also shows that 1.7 million New Zealanders shopped online during the last three months of 2024, 77,000 more than the previous year, although the average basket spend per online transaction was down 4% to NZ$95 (US$54).
According to Chris Wong, NZ Post general manager business, the latest reporting gives retailers a reason to feel more optimistic. “The lead up to Christmas 2024 was record-breaking for online transactions,” he explained. “Shoppers made their money go further by buying more often, while spending less each time. The result was over two million more online transactions (14% increase) during Q4 2024 than Q4 2023, making this the highest quarterly level of transactions we’ve seen in the last six years.”
While economic headwinds do remain, Wong added, “This Q4 period highlighted a positive indication of ‘green shoots’ in online consumer spending. This is a very welcome indication for New Zealand online retailers.
“October to December 2024 (Q4 2024) saw online spending grow across all sectors and in all regions around the country. Just as importantly, domestic online spending held up strongly to make up 72% of the quarter’s total online spend.”
He continued, “Shoppers are focused on getting value for money. Retailers can help them make their dollar go further by offering bundled product offers, discounts for bulk and repeat purchases and loyalty rewards.
“Despite Kiwis still managing cost of living pressures, this was one of New Zealand’s busiest online shopping quarters recorded by NZ Post.”