With the whole country now back at COVID Alert Level 1, it’s pleasing to see a strong rebound in retail spend across New Zealand. Transactions over our network in October were at 98% of the equivalent period last year, despite almost no activity from inbound tourism which would traditionally account for between 5-10% of all transactions we process. This suggests a strong rebound in consumer activity and a big lift in domestic tourism to at least partially make up for the absence of international tourists.
The rebound is patchy and certain industry segments continue to face severe challenges while other merchants enjoy historically buoyant spend. What is fantastic to see is the number of new businesses that are now starting up and that is testament to the resilience of the sector and the preparedness of small businesses to give it a go despite the uncertain environment. To this end we are focussed on providing flexible and short term options for new customers in start-up phase.
We are also seeing many businesses respond to the challenges of COVID by reviewing their current operations and changing the ways they serve their customers – both to increase efficiency and to improve their customer service. We are excited to be bringing a range of new solutions to market over the coming months that will help businesses make this transition including new Android based payment devices, eCommerce payment services, and self-service kiosks and we’ll be communicating more about these new solutions shortly.
Eftpos NZ General Manager