Feeling the pinch at the moment? You're not alone, and there's now a solid chunk of evidence to prove it.
Tyro Payments (the crew behind payment systems for small businesses) has just released its Eat, Pay, Love Hospitality Report, and it has unearthed some fascinating insights into how Aussie consumers' behaviour has changed in the last twelve months. From a panel of more than 1,000 participants, it was found that more than a third of Aussies (41 per cent) are less likely to buy a drink for their mate compared to a year ago. In fact, they're more likely to use the QR code just to avoid having the dang convo in the first place. Talk about a change in social dynamics!
Though we're slightly glad we no longer find ourselves in the awkward position of having to cover the next round of eleven pints at our fave pub, it paints a pretty dire picture of how Aussies are feeling about their finances in 2024.
But it wasn't all doom and gloom in Tyro's report. The data revealed that while Aussies may be more conscious of where their money is going these days, they're still just as keen as ever to enjoy dining and drinking out. One in three survey respondents expressed a willingness to pay more for meals in the face of restaurants' rising bottom line, even though more than half (54 per cent) reported consciously selecting cheaper dishes when eating out.
It seems the relationship we have with our fave spots is just like that ongoing situationship: Fun, stressful and... well, sometimes complicated.
We don't want to say goodbye and we're willing to spend in certain instances, but we're also trying to spend less where possible.
"While people may have shouted their mates in the past, they’re now spending more consciously and prioritising their own spending so that they can continue to go out and have a good time," said Tyro’s chief growth officer, Dee Bannatyne. "In an era when cost of living pressures are at an all-time high, we wanted to better understand how Aussies feel about spending their time and money.
"What we found was that there's more to the story than blanket conservative spending. Across a large cross-section of ages and locations, Aussies told us that, on the whole, they love going to their local restaurants and pubs – they’re just spending their hard-earned cash a little bit differently than they did before."
Speaking of spending more consciously, here's a list of our fave deals right now.
The report also revealed new information about other facets of Aussie diners' behaviours:
- Pizza is the number one food Aussies are still happy to fork out for.
- Aussies are prepared to cut back on new clothing, shoes and food delivery so they can afford to go out for a meal or drink.
- One in five Aussies are tipping less than they were, but more than half never tip.
- More than half of Aussies say going to their ‘local’ makes them feel a part of their community.
It's been a tough few years for our hospo industry, but if there's anything this report proves, it's gonna take a lot more than a cozzie livs crisis to make us break up.