Aerial footage of the Gympie CBD. Business owners are being warned they will need to adapt to the chance in consumer spending.
Aerial footage of the Gympie CBD. Business owners are being warned they will need to adapt to the chance in consumer spending.

5 Gympie industries potentially at most risk post-coronavirus

A FINDER survey of 1025 respondents found 95 pert cent – equivalent to 18 million Australians – have made lifestyle changes out of choice, not necessity, avoiding popular services that are still operating during the lockdown.

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Among those industries that before COVID-19 were flourishing in the Gympie region are hairdressers, taxi services, restaurants and takeaway food, public transport,

Nearly half of Australians (47 per cent) stopped paying for haircuts despite many if not most hairdressers remaining open during the coronavirus shutdown.

Kate Browne, personal finance expert, said public fear, working from home and sweeping job losses had fuelled the radical changes in behaviour.
Kate Browne, personal finance expert, said public fear, working from home and sweeping job losses had fuelled the radical changes in behaviour.

Home cooking has made a comeback as one in three (33 per cent) Australians admit they have stopped buying take-away, while one in five (19 per cent) paused food delivery services.

The restaurant and takeaway food industry saw a $890 million drop in revenue in March 2020 compared to March 2019.

Finder analysis of the most recent Australian Bureau of Statistics retail trade data revealed that the food industry was set to get $4 billion in revenue this March, but ended up only taking in $3 billion.

The research found 47 per cent stopped using public transport, while 35 per cent stopped using taxis and ride sharing services.

Aerial footage of the Gympie CBD.
Aerial footage of the Gympie CBD.

One in five (19%) had stopped going to doctor’s appointments, while one in eight (13%) no longer shopped in person at the grocery store.

Commentary

Kate Browne, personal finance expert, said public fear, working from home and sweeping job losses had fuelled the radical changes in behaviour.

“Coronavirus had the world on edge and the overwhelming majority of Australians changed how they lived their lives almost overnight.”

“As the number of cases grew, so too did the nation’s collective uncertainty.”

Browne said spending habits forged during the coronavirus crisis could permanently change consumer behaviour in Australia.

“Things that once were ‘must haves’ for Aussies like the daily coffee or monthly haircut quickly got dropped,” she said.

“In recent years we’ve seen the slow transition from bricks and mortar stores to ecommerce. This lock down might be the final push as retailers come to realise they no longer need to rely on a physical shop front to sustain business.”

Aerial Footage of Southside, Gympie.
Aerial Footage of Southside, Gympie.

Browne says business owners will need to adapt to the change in consumer needs.

“Small businesses are often the first to be impacted during a downturn. Making changes now will ensure your business survives, or even thrives next time an industry shakeup occurs.”

“Food delivery is an expensive habit and although it might be tempting to order in and add a little excitement to your life in isolation, if you want to save money you need to remember it’s a luxury.”