Finance & Economics

Are small businesses in Australia getting back to normal?

Spice, cafés, cuts, holidays & cash recover,the report says

Australia

Are small businesses in Australia getting back to normal? Source: pexels.com

According to eftpos data, Australia is beginning to return to small business segments as lockdowns ease, while showing big increases in specialised food, eating out, pubs, holidays and haircuts.

The number of Aussies accessing cash via ATMs and Cash Out also showed good signs of recovery, jumping dramatically in recent weeks but still down on levels from pre-COVID Australia in early 2020.

These marvellous small businesses specialise in everything from spices, sweets and condiments to culturally-specific delicatessens and main street markets where you go to get your authentic sambal, roti, barbeque rub, cheeses, pickles, or vegan delights. Recent lockdowns and mobility restrictions like the 5km rule in Sydney, necessitated a period of hibernation for many of these businesses and their hungry customers, but they are now back in force as our wonderfully diverse, multicultural society gets back outside and into the shops
Stephen Benton, eftpos CEO 

Mr. Benton said Australians were rushing back to their favourite restaurants in big numbers, and many had chosen to get a haircut or take a well-earned break and go on holiday.

In fact, eating out has rebounded well, with cafes and restaurants’ posting a 58% jump compared to this time last year and were up higher than pre-COVID levels.

Source: eftposaustralia.com.au

As people begin to get out of the house and take holidays, hotels, motels and resorts jumped 91%.

Another interesting trend was that more people were accessing cash, but not in the volumes eftpos was seeing in the pre-COVID economy.

People are accessing Cash Out at the checkout around 25% more often compared to this time last year, while ATM withdrawals that saw a significant rise straight after lockdowns eased and are now starting to plateau.

Source: eftposaustralia.com.au

We’ve reported that Carrefour launches contactless store in Paris.

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