WA consumers continue to pull back but Gen Z keeps spending
Bankwest’s latest Spend Trends data shows spending in WA eased in May, as cost pressures weighed on overall activity, while younger West Australians continued to show resilience.
- Compared to April, total spend fell 1.8%, while average transaction values declined 1.4% and the number of customers transacting remained broadly stable (-0.5%).
- Year-on-year, customer numbers declined 2.9%, total spend fell 2.0%, and average transaction values increased 1.0%.
- Gen Z was the only generation to increase total spending year-on-year.
Where West Australians are spending
- Department stores (+6.9%) and electric appliance stores (+6.5%) saw strong growth in customer numbers month-on-month with electric appliance stores also seeing a rise in total spend (+8.8%).
- Airline spending rebounded in May, with total spend rising 15.2% month-on-month after falling 36.5% in April.
- Year-on-year, the strongest growth in total spend was recorded in department stores (+13.2%), sporting toy stores (+9.6%) and miscellaneous stores (+7.9%).
- Younger generations led the way in spending at department stores with total spending up 18.6% year-on-year for Millennials.
Generational snapshot – May (year on year)
- Gen Z recorded growth across all key measures, with total spending up 3.8% year-on-year and average transaction values rising 4.3%.
- Millennials saw a small decline in total spending (-0.5%) but continued growth in average spend (+1.7%).
- Baby Boomers recorded the largest declines, with total spending down 7.5% and customer numbers down 7.3% year-on-year.
- Gen X also saw declines across customer numbers and spend.
Comments attributable to Bankwest General Manager, Product Pricing Analytics, Lynn Da Silva
“Spending eased further in May as many Western Australians adjusted their budgets in response to ongoing cost pressures, leading to declines in average spend and overall spend month-on-month.
“However, we are still seeing areas of resilience, particularly in discretionary categories like retail, which suggests consumers are being more selective rather than pulling back entirely.
“The differences across generations remain clear, with younger customers maintaining spending momentum, while older cohorts are reducing activity more significantly.”
Overall transaction change
Month-on-Month (Apr 26 v May 26)
-0.5%
Total Spend Change
-1.8%
-1.4%
Year-on-Year (May 25 v May 26)
Number of Customers Transacting
-2.9%
Total Spend Change
-2.0%
+1.0%
Where Western Australians are spending
Sectors by volume of unique customers transacting in May
Month-on-Month
Biggest Growth in Number of Unique Customers Transacting
+12.7%
Department Stores
+6.9%
Electric Appliance
+6.5%
Smallest Growth in Number of Unique Customers Transacting
Hotel-Motel
-5.9%
-5.5%
Professional Services
-5.1%
Year-on-Year
Biggest Growth in Number of Unique Customers Transacting
Electric Appliance
+11.3%
Sporting Toy Stores
+7.3%
Department Stores
+6.6%
Smallest Growth in Number of Unique Customers Transacting
Interior Furnishings
-21.9%
-9.5%
Hardware
-9.3%
Month-on-Month top 3 sectors by…
Biggest Growth in Total Spend
+15.2%
Repair Shops
+11.8%
Electric Appliance
+8.8%
Smallest Growth in Total Spend
Service Stations
-15.0%
Hotel-Motel
-12.7%
-9.6%
Biggest Growth in Average Transaction
+15.4%
Travel Agencies
+9.9%
Repair Shops
+8.3%
Smallest Growth in Average Transaction
Service Stations
-12.3%
Education
-7.9%
-7.2%
Year-on-Year top 3 sectors by…
Biggest Growth in Total Spend
Department Stores
+13.2%
Sporting Toy Stores
+9.6%
Miscellaneous Stores
+7.9%
Smallest Growth in Total Spend
Interior Furnishings
-16.8%
Vehicles
-11.8%
Hotel-Motel
-10.1%
Biggest Growth in Average Transaction
Miscellaneous Stores
+8.2%
Hardware
+7.5%
Interior Furnishings
+6.6%
Smallest Growth in Average Transaction
Mail Order
-9.5%
Electric Appliance
-7.3%
Auto Rental
-6.2%
Generational snapshot
| Number of Unique Customers Transacting |
Total Spend Volume of Transactions | Average Transactions | |
|---|---|---|---|
| Gen Z | +0.4% | +3.8% | +4.3% |
| Millennials | -2.5% | -0.5% | +1.7% |
| Gen X | -3.2% | -2.8% | +0.6% |
| Baby Boomers | -7.3% | -7.5% | +0.3% |
Where the generations are spending
| Generation spend growth | Number of unique customers transacting – Most | Number of unique customers transacting – Least | Total spending – Most | Total spending – Least | Average value of transactions – Most | Average value of transactions – Least |
|---|---|---|---|---|---|---|
| Baby Boomers | Department Stores |
Interior Furnishings |
Miscellaneous Stores +7.9% |
Education |
Hardware |
Education |
| Gen X | Electric Appliance |
Interior Furnishings |
Repair Shops |
Interior Furnishings |
Repair Shops |
Mail Order |
| Millennials | Electric Appliance |
Interior Furnishings |
Department Stores |
Vehicles |
Department Stores |
Electric Applicance |
| Gen Z | Electric Appliance |
Education |
Auto Rental |
Recreation |
Repair Shops |
Recreation |
Sector |
Examples |
|---|---|
| Airlines | Self-explanatory |
| Auto Rental | Self-explanatory (general and commercial) |
| Clothing Stores | Single-brand stores, as opposed to multi-brand department store retailers |
| Department Stores | Large department stores and chains, not including discount department stores |
| Discount Stores | Discount department stores and budget lifestyle and homeware retailers |
| Electrical Appliance | Whitegoods retailers, home entertainment stores, mobile and computing device outlets, computer games |
| Food Stores/Warehouses | Includes grocery stores, as well as wholesale food distribution warehouses |
| Hardware | Hardware retailers and chains, landscaping specialists, home DIY retailers |
| Hotels/Motels | Self-explanatory |
| Other Retail | Online marketplaces, online arms of bricks-and-mortar retailers, discount department stores, liquor stores |
| Other Services | Courier services, public administration, newspaper subscriptions, roadside assistance companies |
| Other Transport | Public transport, ride sharing companies, taxis, private and public paid parking |
| Pharmacies | Self-explanatory |
| Professional Services | All types of insurance, waste disposal services |
| Quasi Cash | Casino and gambling activities |
| Repair Shops | Cobblers, tailors, electrical appliance repairs, watchmakers, mobile phone repairs |
| Restaurants/Bars | Self-explanatory |
| Service Stations | Self-explanatory |
| Sporting/Toy Stores | Non-digital game retailers, outdoor recreation stores, sporting goods, apparel, and footwear outlets |
| Travel Agencies | Self-explanatory (online and bricks-and-mortar) |
| Utilities | Typical utility services, streaming services |
| Vehicles | Automotive dealerships, automotive and car care accessory retailers, repairs, and servicing |
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