Phase 3 a shoe-in, while footy has WA pubs ruck-n-rolling

22 June 2020

The economic impact of football in WA has been revealed in Bankwest’s latest Spend Trends data, with several sectors trading better than pre-COVID times due to new Phase 3 measures.

The State Government’s Phase 3 easing, combined with the return of football, marked 13-14 June as the best turnover weekend of the year for WA pubs – including against pre-COVID months.

The June result had ‘Pubs, taverns and inns’ trump the previous high (15-16 Feb) by 11 per cent.

The result came as West Coast and Fremantle returned to the field on Saturday and bodes well for WA pubs and bars ahead of a potential Round 6 or 7 Western Derby at Optus Stadium.

The Phase 3 changes also buoyed several other sectors across the state, with shoe stores the surprise leader of a group of businesses trading above pre-COVID levels.

Bankwest’s Spend Trends series analyses recent merchant turnover (10-16 Jun) against a pre-COVID period (22-28 Feb), to show how the WA community adapts to the COVID-19 impact.

The data took in the week following Phase 3’s introduction (6 June), showing the direct impact of government changes, and shoe stores were 37 per cent above the pre-COVID comparison week.

The lifting of restrictions on health and beauty spas (up 32% on pre-COVID), which rode a 92 per cent drop in turnover at the height of the pandemic, also helped that sector recover strongly.

Perennial frontrunner in the recovering sectors ‘Barber and beauty shops’ continued its strong recovery as in-house beauty services resumed, with turnover up 15 per cent from pre-COVID.

The sectors experiencing the most growth and decline overall through the pandemic remained stable, led by ‘Electrical appliance stores’ (110% growth) and ‘Amusement parks’ (-100% decline).

However, there were signs of turnaround in those impacted, with ‘Misc recreation services’ (-92% v -98%) and ‘Travel agencies/tour guides’ (-85% v -92%) improving against the previous period.

Bankwest Chief Customer Officer Paul Vivian said: “If ever we needed proof of how much West Australians love their footy, these results are it, and it’s proven invaluable for certain businesses.

“These results continue the trend of sector recovery with every government change and, with talk of Phase 4 underway, I hope that reversal of fortunes comes quickly for those still suffering.

“It’s incredibly promising for businesses out there to not only see so many sectors with improved turnover since the height of the pandemic, but with turnover greater than pre-pandemic levels.

“There is a long way to go for many in our community, but we’re heading in the right direction.”

About Bankwest
Bankwest’s vision is to deliver brilliant customer experiences that matter and our purpose is to improve the financial wellbeing of our customers and communities. Bankwest provides personal and business banking solutions for more than 1.1 million customers across Australia. Our customers enjoy access to an extensive network of branches and business centres, direct and third-party distribution channels, agencies and electronic banking facilities, as well as 24-hour banking on the telephone, internet and the Bankwest App. Bankwest, a division of Commonwealth Bank of Australia ABN 48 123 123 124 AFSL/Australian credit license 234945.
 

Road to recovery

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Top 5 merchants by % growth (10-16 Jun against pre-Coronavirus 22-28 Feb) *
Rank Sector Change % to COVID drop
(22-28 Feb v 1-7 Apr)

Change % against pre-COVID
(22-28 Feb v 10-16 Jun)

 
1 Shoe stores
-91 37
2 Health and beauty spas
-92 32
3 Barber and beauty shops
-75 15
4 Candy, nut and confectionary stores
-69 10
5 Fast food restaurants
-54 8
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* NB: Excludes sectors that experienced less than 50% drop in turnover from pre-COVID to the point of lowest turnover (1-7 April)

Overall Covid-19 impact

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Top 5 merchants by % growth (10-16 Jun against pre-Coronavirus 22-28 Feb) *
Rank Sector % Growth
1 Electrical appliance stores 110
2 Automotive tyre stores 79
3 Furniture stores 76
4 Floor covering stores
71
5 Sporting goods stores 62
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Top 5 merchants by % decline (10-16 Jun against pre-Coronavirus 22-28 Feb) *
Rank Sector % Decline
1 Amusement parks
100
2 Miscellaneous recreation services (sports stadiums, gyms, sports clubs, mini golf)
92
3 Travel agencies and tour operators
85
4 Educational services (tertiary education, registered training orgs)
81
5 Civic and social associations (community centres, rec activity groups)
61
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