Pandemic Habits – Going From Grocery To Restaurant


Getty

Australians have started spending again on dining out, according to analysis of two sets of data.

Macquarie analysts say the latest ANZ data on credit cards and ABS shows a shift from grocery spending to dining out as the economy reopens.

“Buying trends are still ahead of pre-pandemic levels, with less emphasis on electronics as social categories such as clothing improve,” they write in a note to customers.

ANZ credit card spending data as of May 3 shows grocery sales slowed after COVID, but still about 18% above April 20219 levels.

“Clearly, there has been a shift towards restaurants and cafes, reinforced by the easing of restrictions and NSW Dine & Discover vouchers,” analysts say.

ANZ data suggests people eat more in restaurants, up around 16% in April from April 2021, with the latest ABS data from March also showing a strong recovery but not yet reflecting the positive impact of NSW Dine & Discover vouchers.

macquarie

Macquarie says the shopping mix has also changed, with less emphasis on electronics and more on clothing.

ANZ credit card data shows electronics spending has slowed from November’s Black Friday highs, closer to levels at the start of the pandemic.

However, it remains well ahead of 2018-19 levels with April of around 36% above the same month in 2019.

Consumer confidence is also showing buy signals.

The ANZ-Roy Morgan Weekly Consumer Confidence Score increased from 0.8 to 112.5 (the long-term average since 1990 is 112.6).

Last week, the measure of whether it was the “right time to buy an important household item” climbed to a 15-month high of 22.5 points.

CommSec analysts say consumer sentiment, as measured by ANZ and Roy Morgan, has been volatile in recent weeks.

“The sentiment gauge fell 1% in early May amid concerns about a virus outbreak in Sydney.

“But consumers were more shredded last week with the index up 0.8% after the release of the federal budget. ANZ economists also reported that confidence in Sydney rose 5.4% as no new community cases of COVID-19 were reported with the easing of government restrictions.

“In general, consumer confidence and retail spending intentions increase as mobility increases. And a few “sweeteners” in the federal budget have also likely fueled optimism. “

commsec

Do you have something to say about this? Share your opinions in the comments section below. Or if you have any news or advice, write to us at [email protected]

Sign up for the AdNews newsletter, like us on Facebook or follow us on Twitter to smash stories and campaigns throughout the day.




About Valerie Wilson

Check Also

Crypto, BNPL may face regulations; Inflation leads to an increase in debt

Americans continue to go deeper and deeper into debt American consumers continue to deal with …

Leave a Reply

Your email address will not be published.