Sovtech AU Launches in New Zealand, Working with Cure Kids to Deliver Cybersecurity Solutions with a Social Impact

  • : https://www.sovtech.com/
  • : 14/10/2024

  • Auckland, New Zealand — Sovtech, a leading Australian cybersecurity firm, is proud to announce its official launch in New Zealand this October, marking a new chapter in its expansion across the Tasman.

    Known for its innovative ‘profit for purpose’ business model, Sovtech combines cutting-edge cybersecurity solutions with a strong social mission, including partnerships with significant causes such as Cure Kids – a leading charity dedicated to improving child health in New Zealand.

    As part of the New Zealand launch, Sovtech’s Founder and Director, Neil Templeman, will be visiting Auckland on 15 and 16 October to meet with clients, partners, and government officials. Templeman brings a personal connection to New Zealand, having lived here for seven years. His goal is to establish a local presence, creating new jobs and building a robust team to serve New Zealand businesses.

    “Launching in New Zealand has been driven by strong demand from customers and our partners. We see a great opportunity to help businesses here enhance their cybersecurity posture while making a positive social impact and we have recently signed our first contract in NZ with a large enterprise customer,” says Templeman.

    Sovtech’s unique approach to cybersecurity sets it apart from other providers. The company offers services such as advanced email security, data protection and third-party risk management, but with a difference – profits are reinvested into causes that matter. In Australia, Sovtech has supported First Nations health and education initiatives, and with its New Zealand expansion, it has chosen to align with Cure Kids, a charity focused on funding medical research to improve the health of children.

    Cure Kids is enthusiastic about this collaboration. Brendon Pongia, Head of Engagement, commented, “We are excited to have the support of Sovtech, an organisation with a strong social mission and a shared commitment to improving the health of children in New Zealand.”

    By launching in New Zealand, Sovtech aims to create a lasting social impact while providing the country’s businesses with industry-leading cybersecurity solutions. Its goal is to offer both private and public sector organisations the tools they need to improve their cyber resilience, while simultaneously contributing to a broader societal mission.

    “We believe technology should be a force for good, creating ripple effects that transcend borders and generations,” adds Templeman. “With our Procurement for Purpose model, New Zealand businesses have a unique opportunity to strengthen their security while driving meaningful change.”

    Sovtech’s launch in New Zealand is more than just business – it’s about community, sustainability, and making a difference where it counts.

    Media Contact: Neil Templeman
    Founder & Director, Sovtech
    Neil_templeman@sovtechnz.com

    T: 00 61 419 172 445
    www.sovtechnz.com

    Neil Templeman will be available for interviews during his visit to New Zealand on 15-16 October. To schedule a meeting or interview, please contact him directly at the number above.

     

    About Sovtech:
    Sovtech is a cybersecurity provider offering comprehensive solutions to help businesses safeguard against modern threats. Their profit for purpose model reinvests profits into social causes, aligning technology with positive global change. https://sovtech.com.au/

    About Cure Kids:
    Cure Kids is New Zealand’s largest charitable funder of child health research committed to finding better treatments and preventative strategies for a wide range of serious child health conditions. Cure Kids has invested more than $65 million in New Zealand research since it formed over 50 years ago, which has helped to shape and vastly improve the way children who live with serious diseases and health conditions are diagnosed and treated. Cure Kids is currently funding around $8 million in child health research across 60+ projects. Red Nose Day is their biggest annual fundraising campaign and makes a significant contribution to this work. For more information visit: www.curekids.org.nz

  • Neil Templeman - Sovtech
  • : Neil Templeman
  • : Founder & Director, Sovtech
  • : Neil_templeman@sovtechnz.com
  • : 0061419172445
  • : https://www.sovtech.com/
  • https://www.linkedin.com/in/neil-templeman003/

Introducing NEW Selaks Origins Breeze 5%

  • : Selaks
  • : 20/08/2024

  • Selaks, a pioneer in New Zealand’s wine industry, proudly unveils Selaks Origins Breeze 5%, a revolutionary addition to its portfolio.

    Launching this August, Selaks Origins Breeze 5% makes its timely debut following Dry July, pioneering Selak’s first ever 5% alcohol offering in New Zealand. Each bottle promises an easy-drinking experience with just 3 standard drinks per 750ml bottle at 5% ABV.

    Research consistently indicates a growing demand for lower-alcohol beverages. Consumers are increasingly mindful of their alcohol intake and are actively seeking options that allow them to enjoy wine in moderation. This shift reflects a broader cultural movement in New Zealand towards more responsible drinking habits.

    The Origins Breeze range uses the Piquette method, a traditional technique originating from France. Piquette is made by rescuing already pressed winemaking grapes and giving them a second squeeze, resulting in a refreshing range that includes a crisp Piquette from Marlborough Sauvignon Blanc, a summer berry-infused Piquette Rosé, and a vibrant Piquette from Pinot Gris.

    “Utilizing the traditional Piquette method, we’ve crafted fruit wines that not only minimize waste but also maximize the vibrant fruit flavors that define our fruit wines.” said David Edmonds, Chief Winemaker at Selaks. 

    Crafted with innovation and waste reduction in mind, this range caters to wine enthusiasts and health-conscious consumers alike, seeking a flavourful, lighter option without compromising on taste.

    “At Selaks, we’re excited to introduce the Origins Breeze 5% range, a testament to our commitment to quality and innovation,” added Edmonds.

    “We’ve focused on creating a product that captures the bright, fresh characteristics of our fruit, appealing to a broad spectrum of consumers,”

    Selaks Origins Breeze 5% is poised to redefine expectations of lower-alcohol fruit wines, offering a delicious choice for any occasion.

    About Selaks: 90 Years of Winemaking

    Founded with a rich heritage, Selaks is celebrated for crafting exceptional New Zealand wines that honor tradition while embracing innovation. Since Marino Selak arrived from Croatia in 1906, he and his nephew began creating wines that have become favorites across New Zealand, marking the start of Selaks’ legacy of excellence in winemaking.

    From their humble beginnings in West Auckland to their current home in the Hawke’s Bay, they’ve built a legacy steeped in tradition and passion. Each bottle carries the essence of those who have shaped its creation, preserving the spirit of their winemaking family through the generations. Selaks’ commitment to quality and excellence has traveled far beyond borders, embraced by wine lovers across the globe.

    For more information about Selaks Origins Breeze 5% visit www.selaks.co.nz 

  • Selaks 5% 3 Bottle Tile
  • : Misty Johnston
  • : PR Agency
  • : misty@filter.co.nz
  • : 021449680
  • https://www.instagram.com/selakswinesnz/

University of Otago and Methane Mavericks Win Grand Prizes at Space for Planet Earth Challenge

  • : SpaceBase Limited
  • : 15/03/2024

  • Auckland, New Zealand — 16 March 2024

    The team “Methane Mavericks” from Newham, Australia, and the University of Otago team from Dunedin, New Zealand, have been awarded the Grand Prizes in the Space for Planet Earth Challenge, an innovative competition focused on leveraging space technologies to address environmental issues.

    Cristhian Delgado Fajardo and his team from the University of Otago clinched the top prize at the University level for their project “Satellite-based AI Emulators for Efficient Monitoring of Agricultural Methane Emissions in New Zealand.” Their ground-breaking work aims to enhance the monitoring and management of methane emissions from agricultural activities in New Zealand using satellite data and artificial intelligence.

    In the high school category, Olivia Hedge and Khoa Anh Do of Methane Mavericks from Newham, Australia, won the Grand Prize for their project “Using Sentinel Data to Identify and Prioritize Small-scale Emissions for MethaneSat.” Their innovative approach utilizes satellite data to detect and prioritize small-scale methane emissions, contributing to the development of more effective mitigation strategies.

    Six teams from New Zealand, Australia, and the Philippines competed in the Challenge finals, presenting their projects to a panel of esteemed judges from various space agencies, research institutions, and organizations. The winners were awarded cash prizes of $25,000 NZD and $8,000 NZD for the University and high school categories, respectively, along with valuable mentorship opportunities from SpaceBase.

    “We are truly impressed by the calibre of work presented by these young innovators,” said Emeline Paat-Dahlstrom, CEO of SpaceBase. “Their projects demonstrate the immense potential of space technologies in addressing pressing environmental challenges, and we are confident that their research will create a lasting impact in the region.”

    The Space for Planet Earth Challenge was organized by SpaceBase, a forward-thinking organization that leverages incentive prizes and space technologies to catalyse innovation and solve complex problems. The Challenge was made possible through the support of various sponsors and partners, including the Pacific Fund, K1W1, Orbica, AWS, US Embassy in New Zealand, Biome Trust, Rich Bodo through the Gift Trust, Australian Space Agency, New Zealand Space Agency, Auckland Space Institute, Callaghan Innovation, Outset Ventures, Auckland Unlimited, and Auckland Aerospace.

    For more information about the Challenge and the winning projects, please visit spacebase.co/challenges.

    About SpaceBase Limited:

    SpaceBase Limited is a New Zealand-based space education and consulting social enterprise with a mission to democratise access to space for everyone. SpaceBase is creating equal opportunities to leverage space technologies to solve problems on Earth by catalysing space ecosystems in developing and emerging countries, starting in New Zealand. Since its incorporation in 2017, the organization has collaborated with economic development agencies, local and national governments, and advocacy groups to deliver over 150 educational presentations and workshops, three Pacific and nationwide space and aerospace competitions, and has helped birth space communities and organizations locally and globally.

  • : Emeline Paat-Dahlstrom
  • : Co-Founder
  • : info@spacebase.co
  • : 64224021936
  • : https://spacebase.co
  • https://www.facebook.com/SpaceBaseNZ/

Six Teams from New Zealand, Australia, and the Philippines Advance to Finals of Space for Planet Earth Challenge

  • : SpaceBase Limited
  • : 06/03/2024

  • Auckland, New Zealand – 6 March 2024 – Teams from New Zealand, Australia, and the Philippines have secured their spots in the finals of the prestigious Space for Planet Earth Challenge. These finalists from both the University/Startup and High School categories will compete in an online pitch competition on March 15th, presenting their innovative solutions that leverage space data to address the critical issue of methane emissions and climate change.

    The grand prize winners from each category will receive substantial cash prizes of up to $25,000 NZD and mentorship opportunities from SpaceBase Limited.

    The Challenge finalists include:

    High School Level

    • Methane Mavericks – Kyneton High School & Maryborough Education Centre, Newham, Australia
    • Cashmere Space Club – Cashmere High School, Christchurch, New Zealand
    • Usbong Me – University of the Philippines High School, Iloilo, Philippines

    University/Startup Level

    • University of Otago – Dunedin, New Zealand
    • Project AIM: Rizal Technological, Caraga State, and Adamson Universities – Metro Manila and Butuan Cities, Philippines
    • Interstellar Exploration Institute and Macquarie University – Sydney, Australia

    The finalists participated in a three-month online research incubator organized by SpaceBase, where they received comprehensive training on the problem areas, relevant technologies, and the innovation process. After completing the rigorous incubator program on 25 February, the teams submitted their final challenge applications, which were evaluated by a panel of industry and academic experts from the United States, Australia, the Philippines, New Caledonia, and New Zealand.

    “I am very impressed with the calibre this year. Every team has been impressive in one way or another,” said Nicholas Metherall, Challenge judge and Space Challenge Grand Prize Winner 2021-22.

    “The Challenge showcases the remarkable talent and dedication of young minds in tackling Earth’s climate challenges. Their innovative solutions and enthusiasm are vital for a sustainable future, highlighting youth’s crucial role in addressing global environmental issue,” said Prof. Rafael Kargren upon judging the challenge.

    The Challenge Final Pitch and Awards Ceremony will be held online on 15 March from 5:30-7:30 pm NZT. The event will feature welcome addresses from distinguished guests, including the Hon. Judith Collins, New Zealand Minister of Space; Peter Vedder, Senior Director at MethaneSat; Anne Rouault, Science Attaché at the French Embassy in New Zealand; and Host Amy Armstrong from the Great Barrier Reef Foundation and Edmund Hillary Fellow. Representatives from the Australian and New Zealand Space Agencies will present the coveted prizes.

    For more information about the Challenge and the Finalists, please visit spacebase.co/challenges. RSVP for the event at spacebase.co/events.

    The Space for Planet Earth Challenge is made possible through partnerships and sponsorships facilitated by SpaceBase Limited. Sponsors include the Pacific Fund, K1W1, Orbica, AWS, U.S. Embassy in New Zealand, Biome Trust, Rich Bodo through the Gift Trust, Australian Space Agency, New Zealand Space Agency, Auckland Space Institute, Callaghan Innovation, Outset Ventures, Auckland Unlimited, and Auckland Aerospace.

    About SpaceBase Limited:

    SpaceBase Limited is a New Zealand-based space education and consulting social enterprise with a mission to democratize access to space for everyone. SpaceBase is creating equal opportunities to leverage space technologies to solve problems on Earth by catalysing space ecosystems in developing and emerging countries, starting in New Zealand. Since its incorporation in 2017, the organization has collaborated with economic development agencies, local and national governments, and advocacy groups to deliver over 150 educational presentations and workshops, three Pacific and nationwide space and aerospace competitions, and has helped birth space communities and organizations locally and globally.

  • Space for Planet Earth Challenge
  • : https://youtu.be/jJv_Swy9Kdg
  • : Emeline Paat-Dahlstrom
  • : Co-Founder
  • : emeline@spacebase.co
  • : 0224021936
  • : htttps://spacebase.co
  • https://www.facebook.com/SpaceBaseNZ/+https://www.linkedin.com/company/13643678/

Alimetry Secures CPT III Reimbursement Code for the Gastric Alimetry Test and Announces Positive Clinical Study Results

  • : Alimetry Ltd
  • : 12/02/2024
  • Alimetry CPT III Press Release 12th Feb 2024 (1)
  • : Hanie Yee
  • : Chief Commercial Officer, Alimetry
  • : Hanie@alimetry.com
  • : 64021651226
  • : https://www.alimetry.com
  • US Phone Number: +1 (657) 267 1082 | https://nz.linkedin.com/company/alimetry-ltd | @alimetry_ltd

New Chorus Node expands Wellington Data Centre solutions at Xtreme Networks.

  • : Xtreme Networks
  • : 27/04/2023

  • Xtreme Networks, a leading local provider of data centre and networking solutions, announced today that it is further expanding its capabilities with the launch of the new Chorus Data Centre Connect node for Wellington, Available to order from May 1, 2023.

    The new node, located in its colocation data centre at 191 Thorndon Quay, will provide an accessible Point of Presence for Internet Service Providers and enhanced connectivity options for businesses requiring high-quality data services, throughout the region and beyond.

    Chorus Data Centre Connect is a high-performance, low-latency service that allows ISPs to easily establish a local Point of Presence and enables businesses to easily connect to other data centres using Chorus’ fibre infrastructure.

    With the new node at Xtreme Networks, businesses will have access to Chorus Handover services and Chorus L2 Products. Service Providers and business customers can purchase either 10G or 100G connections to take the traffic back to their designated Chorus exchange and onto their nominated footprints.

    “We’re excited to have worked with Chorus to bring this new data centre connect node to Wellington,” said Dion Hallam, Managing Director of Xtreme Networks.

    “This investment provides yet another building block for us, in ensuring the region has ample access to high-performance networks directly into Chorus’s core infrastructure. We believe it will be hugely beneficial for ISPs to build a new point of presence in the Wellington region and will further simplify local data hosting for Managed Service Providers and their clients,” Dion Hallam said.

    Having also launched their new channel partner program for MSP’s, 2023 will be a year of continued growth & investment in providing robust local data storage and connectivity to New Zealand businesses.

    “It’s been a pleasure working with the Xtreme Networks team to launch our new DCI node into the Wellington Data Centre” said Mark West, Network Product Manager at Chorus.

    “This investment will give businesses in the region the unique opportunity to connect to the Chorus Handovers and backhaul services across New Zealand with options for both 10G and 100G transport service. We are really excited about this venture and look forward to what’s next,” Mark West said.

    Xtreme Networks is a locally owned and operated data centre with a reputation for providing highly responsive service and world class connectivity and hosting facilities for more than 23 years.

    The new Chorus Data Centre Connect node at Xtreme Networks in Wellington is set to go live on May 1, 2023. For more information about accessing the service, contact the Xtreme Networks team directly.

    For more, see: https://www.xtreme.nz

  • New Data Centre Connect Node
  • : Catherine Dearlove
  • : Sales & Marketing Manager
  • : catherine.dearlove@xtreme.nz
  • : 0273309090
  • : https://www.xtreme.nz
  • https://www.linkedin.com/company/xtreme-networks/

Generational divides revealed: Kiwi investment preferences explored in new report

  • : Banked NZ
  • : 26/01/2023

  •  Highlights

    • Younger generations are most likely to invest in shares, while Gen X say they are just as likely to invest in crypto. Term deposits are the top choice for Baby Boomers.
    • 52% of Kiwis think 2023 will be a better year for investing than 2022.
    • 87% think it’s important to invest in a socially responsible way.

    Auckland, New Zealand – There is a distinct difference in investment preferences across generations of Kiwis, shows a new report from Banked. The personal finance website surveyed 1,020 New Zealand adults about their inclinations and attitudes to investing.

    When asked what type of investment they were most likely to invest in, the top choice for Gen Z and Millennial Kiwis was shares (26.8% and 24.2%, respectively).

    Property was the second most common choice for Gen Z, with 19.3% of those aged 18 to 26 saying they were most likely to invest in that investment type.

    Along with shares, Gen X say they are just as likely to invest in cryptocurrency (both selected by 21.3% of respondents).

    Those of the Baby Boomer generation are much less interested in shares (13.3%) while more than a third (35.2%) say their top investment choice is a term deposit.

    “Our report shows a fascinating difference in the investment interests of Kiwis across age groups,” says Kevin McHugh, Head of Publishing for Banked.

    “The boom of micro-investing apps and the popularity of so-called ‘Reddit stocks’ has captured the imagination of younger generations and they’ve really embraced investing in shares and funds.

    “But as we move up the age groups there’s a declining interest in shares and a much greater attraction to lower-risk term deposits,” says McHugh.

    “We also see that while home ownership has become increasingly difficult in recent years, it hasn’t dented the aspirations of younger people to own property.”

    See the full report: https://www.banked.co.nz/nz-investor-report-2023

    Most Kiwis optimistic for 2023

    Banked’s report also shows that a majority of New Zealanders believe this year will be more fruitful for investors.

    Asked if they thought 2023 would be a better year for investing than 2022, more than half (52.2%) said yes. Only 17.1% said no, while 30.8% said they didn’t know.

    “Twenty twenty-two was a turbulent year for investors, with most investment types losing value. But most Kiwis are feeling more positive about 2023 and some may turn to investing as a way to counter the impact of inflation,” says McHugh.

    A nation of socially responsible investors

    The new report reveals the importance of environmental, social and governance (ESG) investing to New Zealanders.

    A huge 87.1% of respondents say it’s important to invest socially responsibly, and only 12.9% disagree.

    Gen Z feel the most strongly about the topic, with 90% saying it’s important. But the belief was uniform across all ages, with no age group dropping below 82%.

    For those that say they didn’t think socially responsible investing was important, a desire just to get the best return possible is the main reason for most (42.4%), while 32.6% say they thought it made no difference.

    ENDS

    About Banked

    Banked is a financial information and deals website that has the goal of helping New Zealanders make the best decisions on the products they need.

  • Survey-1-Q.-What-type-of-investment-are-you-most-likely-to-invest-in-excluding-KiwiSaver
  • : Kevin McHugh
  • : Head of Publishing
  • : kevin@banked.co.nz
  • : 02108837789
  • : https://www.banked.co.nz/
  • https://www.facebook.com/BankedNZ

New Zealand collaborators reveal innovative gut health product

  • : Zestt Wellness
  • : 23/01/2023

  • A Dunedin company, Zestt Wellness, have launched a new gut health product to help counter the damage caused to our digestive system from processed foods and additives.  One of the co-founders of Zestt, Dr Anna Campbell, says that damage to our gut health can be associated with the onset of chronic disease.

    Campbell, along with fellow founder, Darcy Schack, were driven to create a science-based gut health product that used New Zealand grown ingredients and innovation.

    These ingredients include yacon, which according to Campbell is “a superfood due to its amazing prebiotic properties.  Yacon provides a form of sugar that our body can’t digest but our gut bacteria can, this helps the growth of good bacteria and inhibits the growth of bad.  Clinical trials have shown that yacon can also reduce appetite and help with weight management”.  The Zestt team have partnered with Kerikeri organic yacon producer, Marcus van Boxel, and are excited about the availability and quality of yacon in New Zealand.

    Knowing the benefits of yacon and finding a local producer were only part of the equation.  Through a collaboration with Blenheim based company, Taylor Pass Honey and a Nelson based food scientist, Grant MacDonald, the team have found a way to turn the yacon syrup into a dried product – something that others have not been able to do.   A clever bit of local innovation has meant that they have been able to create the new ‘Thrive’ lozenge that has the correct pH and consistency and that also includes other New Zealand ingredients that are good for gut health, such as gold kiwifruit and probiotics from another Dunedin based company, BLIS Technologies.

    Creating a quality product from quality ingredients has its challenges.  According to Schack “the trick is to combine these ingredients, without losing bioactivity, so a lot of attention to detail and testing needs to happen along the way to insure none of the goodness is lost”.

    The inspiration for Zestt Wellness’ products arises from Schack’s personal health battles with Sarcoidosis, a little-known autoimmune disease, which affected his lung, heart and brain functions.  Zestt Wellness was established in 2019 and they released their first product EXhale, a lung health and immunity formulation, that year.

    Campbell is excited about the new product “launching a product that is based on quality ingredients, quality collaborations, innovation and a bit of Kiwi magic is something that we are proud of; best of all, we know this will make a difference to the health and well-being of some New Zealanders.”

    Ends

    424 words

    About Zestt Wellness

    in 2022, Zestt launched their product range in the USA and were named finalists in the Asia Pacific Nutra Ingredients Start Up Company award and winners of the New Zealand China Business Club Innovator award.  As a company, they tap into the rich New Zealand science and innovation ecosystem and partner with premium growers throughout the country to develop products with strong science behind them.

    To contact Zestt Wellness:

    Anna Campbell 027 4861418; anna@zesttwellness.com

    Darcy Schack 027 599 2255; darcy@zesttwellness.com

    www.zesttwellness.com

  • : Dr Anna Campbell
  • : CoFounder
  • : anna@zesttwellness.com
  • : 0274861418
  • : https://www.zesttwellness.com
  • https://www.facebook.com/Zesttwellness | https://www.linkedin.com/company/zesttwellness/

App to help consumers before they get to the Supermarket

  • : Sumfood Limited
  • :

  • As the cost of living crisis bites, a New Zealand company, Sumfood, has launched an app designed to help New Zealander’s save money at the supermarket.  The free app lets consumers know which supermarket has the cheapest price, per person, for groceries.

    Launched on 1 December, it is hoped that it will provide consumers with a little comfort at the checkout as the holiday season approaches.

    Dr Helen Darling of Sumfood believes that the kiwi’s want to help kiwi’s find the best place to shop and, at the same time, drive supermarkets towards fairer and more transparent pricing.  To do this, she said, will require innovative people to start using the app, as the amount of data builds, supermarkets will no longer be able to hide behind price differences.

    “Anecdotally, we know that where you live has an impact on what you pay at the supermarket – it’s time for some transparency”.  Price information is crowd-sourced from motivated consumers.

    The app was designed in response to increasing concerns of food price inconsistencies reported through the company’s food reporting tool.

    For the last two years the company has collected reports on food issues, with these ranging from concerns about food preparation or hygiene through to contaminants or foreign objects.  The company provides a service to consumers that gives them advice on what to do and who to contact.

    The new app, FoodSpies.com, uses crowd-sourced data to calculate the average price for a supermarket shop.    Shoppers can log on and find the average price, per person, for supermarkets in their region.  Data are sourced from shoppers who provide the cost of their shop and the pricing is continuously recalculated so that the most up-to-date information is available.

    Darling said that it’s an exciting time to be launching another tool to help consumers, adding that the idea came from her young, motivated team who are committed to making food systems safer and fairer.

  • : Helen Darling
  • : CEO
  • : helen.darling@sumfood.com
  • : 021479958
  • : https://www.foodspies.com/

Christmas crunch: 60% of Kiwis stressed about the cost of Christmas

  • : Banked NZ
  • : 30/11/2022

  • 30 November 2022, New Zealand

    Highlights

    • Kiwis to spend an average of $623 on gifts this year.
    • Women much more stressed about Christmas costs than men.
    • Almost two-thirds would pay more for a sustainable gift.

    The majority of Kiwis feel stressed about the cost of this year’s Christmas, reveals the latest research from personal finance information website Banked.

    A survey of 1,020 New Zealanders found that 60% of Kiwis describe themselves as either a ‘little stressed’ (46%) or ‘very stressed’ (14%) about the expenditure involved with this year’s festivities.

    Women are feeling under more pressure than men, with 70% reporting some level of stress, compared with 49% of men.

    Banked’s Christmas spending report found that Kiwis will spend an average of $623 on gifts this year. Women said they expect to spend $566 on average, while for men that figure climbs to $712.

    “With rocketing inflation and a cost of living crisis to contend with, lots of New Zealanders are really feeling the pinch this Christmas,” says Kevin McHugh, Head of Publishing at Banked.

    “Many will be worrying about their personal finances when they should be able to wind down and appreciate some well-earned time off with friends and loved ones.”

    Banked’s research also found that sustainability is an important consideration for Kiwis when buying gifts. Almost two-thirds (65%) say they would be willing to pay more for a gift if it was sustainable, such as one that involved zero waste or was made from recyclable materials.

    Younger people are even more interested in sustainable gift-giving, with 76% of those aged 18-24 (falling into the Gen Z age group) stating that they would be willing to pay more for a sustainable gift.

    Conversely, under half (49%) of those aged 55 and older say they would be willing to pay extra for a gift if it was sustainable.

    “Sustainability is a vital issue and it’s pleasing that so many Kiwis are willing to support it, even if it costs them a little extra at the checkout,” says McHugh.

    See Banked’s NZ Christmas Spending Report 2022.

    Top ways to save this Christmas

    Don’t feel obligated to spend beyond your means – “Christmas is an expensive time and many feel pressure to spend money that they don’t have,” says McHugh.

    “Don’t feel an obligation to buy gifts you’ll struggle to afford or take part in every costly social event. Put your wallet and your wellbeing first.”

    Secret Santa or group gifting – “Arranging a Secret Santa is a great way to cut costs. It can also be lots of fun and lets you focus on getting a great gift for one person.

    “Chipping in with others for a group gift is another excellent way to save, plus it makes it possible to purchase an otherwise unaffordable present,” says McHugh.

    Set a budget (and stick to it) – “It can be easy to overspend at Christmas. But by setting a budget and keeping track of your spending, you’ll make managing your finances over the festive period much easier,” advises McHugh.

    ENDS 

    About Banked

    Banked is a financial information and deals website that has the goal of helping New Zealanders make the best decisions on the products they need.

  • : Kevin McHugh
  • : Head of Publishing
  • : hello@banked.co.nz
  • : 642108881973
  • : https://banked.co.nz/