Hammers over handbags: What Kiwi bought this Black Friday

From spam in inboxes to flooded social media feeds, we’ve just been through that time of year again – Black Friday. We’ve trawled through Kiwibank card data to see just how much Kiwi spent and what they spent it on this Black Friday. And of course, by Black Friday, we really mean the whole month of November with sales kicking off well before the official calendar date This year, it looks like Kiwi favoured hammers over handbags, couches over Converse, and books over Bluetooth speakers. Kiwi are opening up their wallets, but to select stores. For now, all things housing are the winners. The festive shopping season is only just getting started. Secret Santa and stocking stuffers may see more broad-based gains across retail this Christmas. Not to mention, Boxing Day, which still reigns supreme as the biggest spending day of the year for Kiwi. For now, significantly lower interest rates are helping free up disposable incomes and boost consumption. And with 30% of mortgaged households set to roll off onto lower rates in the next six months, the outlook for retail is merry and bright. Hosted by Jarrod Kerr, Mary Jo Vergara and Sabrina Delgado.Follow our economic commentary & insights here: https://www.kiwibank.co.nz/business-banking/thrive-hq/kiwi-economics/commentary-insights/Any views or information shared in this podcast, while given in good faith, aren't necessarily the view of Kiwibank.