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Chris Wilkinson: First Retail Group Managing Director on the ANZ card data showing how Kiwis are spending
Published 1 month, 2 weeks ago
Description
We're spending more on fuel, crowding out most other areas.
ANZ card data from April shows spending at the pump jumped 0.9% on top of March's 20% hike shortly after the Iran war began.
Spending on retail, public transport, car dealerships, and the normally recession-proof health and beauty sector all took a hit.
There was an unusually large drop at supermarkets too – 1.4%.
First Retail Group Managing Director Chris Wilkinson told Mike Hosking they've seen a decisive shift in how we grocery shop.
He says people are opting for different brands and being smart with their money.
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