The FINANCIAL — Inhabitants of New Zealand have an average of approximately €100 per person for spending on watches and jewelry. This is one of the results of the study “GfK Purchasing Power for Retail Product Lines 2017,” which is now available. But the purchasing power for watches and jewelry differs substantially from region to region.
In 2017, New Zealanders have a total of approximately €455 mil. for spending on watches and jewelry. This corresponds to an average per-capita purchasing power of €97. But the GfK study reveals that this purchasing power potential varies widely according to region. Even at the level of the country’s 17 regional councils, values range from €108 per person in Taranaki (around 11 percent above the national average) to €86 per person in Northland (around 22 percent below the national average). The capital region of Wellington has €104 per person, which is around seven percent above the national average. Eleventh-ranked Auckland is the nation’s most populous region. Inhabitants there have €94 per person, which is 3.5 percent less than the national average.
Due to its 1.6 mil. inhabitants, Auckland has the highest total purchasing power for watches and jewelry at €151.2 mil. Taranaki, which tops the per-capita purchasing power rankings, has a total of just €12.5 mil. purchasing power for watches and jewelry due to its much lower number of inhabitants (just under 117,000).
The more granular the regional level, the larger the spread
At the level of New Zealand’s territorial authorities, 33 of these 68 regions have above-average purchasing power for watches and jewelry, while the other 35 regions have below-average values. Inhabitants of Wellington, Ashburton and Waipa have the most per-capita purchasing power for watches and jewelry. According to the GfK study, these three regions have a per-capita purchasing power ranging from €112 to €115 for this product line. By way of comparison, the metropolitan region of Auckland is ranked forty-second.
The national average is represented by Hamilton City, whose inhabitants have €97 per person for spending on watches and jewelry.
By contrast, inhabitants of Far North District have just €80 per person (27 percent below the national average), while inhabitants of Kawerau District have just €70 per person. The distribution of regional purchasing power potential spans from almost 19 percent above the national average in Wellington City to 27.5 percent below the national average in Kawerau District.