Sydney and Melbourne residents are venturing back into the CBD for shopping

New Data released by Commbank shows that Sydney and Melbourne residents are increasingly spending money on shopping in their CBD areas.

Despite weather conditions on Australia’s east coast, spending patterns in Sydney and Melbourne CBDs have experienced an increase particularly across retail businesses. CommBank’s media release shows that “week on week, Sydney CBD businesses saw a 30 per cent jump in retail sales and Melbourne CBD businesses saw a 31 per cent increase.”

In addition, transport spending intentions also surged 11% in the month, driven by higher fuel prices and increased spending on taxis, parking lots, car washes, freight and trucking services.

“It is encouraging to see spending in Australia’s largest capital cities on the up and we hope to see this trend continue as more people start coming back into city centres over the coming weeks and months,” CBA group executive, business banking, Mike Vacy-Lyle said.

According to Commbank, this is where Sydneysiders were spending their money in the CBD:

• Florists (up 55%)
• Stationary and office supplies (up 55%)
• Cosmetic stores (up 38%)
• Clothing and alteration services (up 29%)
• Bars and pubs (up 15%)

In Melbourne:

• Jewellery and watch stores (up 65%
• Electronic sales (up 30%)
• Fast food restaurants (up 11%)
• Gift, cards and novelty stores (up 10%)
• Beauty and barber shops (up 7%)

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