Kiwis have been tightening their belts over the past year

Annual figures from payment processor Worldline show retail spending increased just 0.8 percent last year, with December spending dropping 0.7 percent.

The value of the average sale dropped 0.6 percent.

Retail NZ chief executive Carolyn Young says that translates with what retailers are reporting.

She says in terms of overall spend, the general feedback from retailers has been they're down on the year.