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Feeling generous? Or not so much? Tyro Payments (the crew behind payment systems for small businesses) has done a deep-dive into changing consumer habits over the past 12 months, and they've 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.
Although it's kinda relieving to hear we're not the only ones who don't really want to have to cover the next round of 11 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 Eat, Pay, Love Hospitality Report 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. The data found that pizza is the number one food Aussies are still happy to fork out for.
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."
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The report also revealed new information about other facets of Aussie diners' behaviours:
- 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.