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

By Amelia Hetherington · · 1 min read
Fact Checked
Advertiser disclosure
shopping-centre

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%)

With spending intentions on the rise, now might be a good time to review your payment options, including your credit or debit cards. Mozo has done all the hard work for you and compared all the best credit cards on the market - have a look to find one that’s right for you.

Compare Credit Cards - last updated 26 April 2024

Search promoted credit cards below or do a full Mozo database search. Advertiser disclosure
  • Apply By 28 May 2024
    American Express Qantas Ultimate Card

    Receive 60,000 Bonus Qantas Rewards Points when you apply online by 28 May 2024, are approved, and spend $3,000 on your new Card within the first 3 months. T&Cs apply. Available for New American Express Card Members only.

    Purchase rate
    23.99% p.a.
    Balance transfer rate
    No current offer
    Annual fee
    $450
    Rewards program
    Qantas Frequent Flyer
    Compare
    Go to site
    Details
  • American Express Platinum Edge Credit Card

    Enjoy $0 Annual Card Fee (usually $195) in the first year when you apply online and are approved. T&Cs apply. New Card Members only. Offer subject to change without notice.

    Purchase rate
    23.99% p.a.
    Balance transfer rate
    No current offer
    Annual fee
    $195 $0 in the first year
    Rewards program
    Membership Rewards
    Compare
    Go to site
    Details
  • American Express Explorer® Credit Card

    Receive 50,000 bonus membership rewards points when you apply online, are approved, and spend $4,000 on eligible purchases on your new card within the first 3 months (T&Cs apply). New Card Members only. Complimentary domestic & international Travel Insurance (T&Cs apply). Up to 55 days interest free on purchases. $395 annual fee.

    Purchase rate
    23.99% p.a.
    Balance transfer rate
    No current offer
    Annual fee
    $395
    Rewards program
    Membership Rewards
    Compare
    Go to site
    Details
  • Apply By 15 May 2024
    American Express Velocity Platinum Card

    Earn 100,000 bonus Velocity Points when you apply online by 15 May 2024, are approved, and spend $3,000 on eligible purchases on your new American Express Velocity Platinum Card within the first 3 months. T&Cs apply. Available to new American Express Card Members only.

    Purchase rate
    23.99% p.a.
    Balance transfer rate
    No current offer
    Annual fee
    $375
    Rewards program
    Velocity Frequent Flyer
    Compare
    Go to site
    Details

^See information about the Mozo Experts Choice Credit Card Awards

Mozo provides general product information. We don't consider your personal objectives, financial situation or needs and we aren't recommending any specific product to you. You should make your own decision after reading the PDS or offer documentation, or seeking independent advice.

While we pride ourselves on covering a wide range of products, we don't cover every product in the market. If you decide to apply for a product through our website, you will be dealing directly with the provider of that product and not with Mozo.