Despite the tough current economic conditions affecting the country, bars in Western Australia and restaurants in Victoria are faring very well in terms of revenue.
The latest figures from Australian restaurants, cafes, and bars that have been using the unified POS and payments platform Lightspeed reveals that WA bars and Victorian restaurants have recorded strong sales, with WA bars enjoying a three per cent month-on-month sales growth and Victorian restaurants a one per cent increase.
While the percentage boost can be perceived as minimal, Lightspeed notes that this level of sales boost is significant in the hospitality scene.
On the other end of the spectrum, cafes in SA and QLD have been particularly affected with a -5.2 per cent and -4.2 per cent sales decline, respectively.
“As cost of living pressures and rate rises put the squeeze on consumer spending, the upcoming holiday season takes on even greater significance for Australian diners,” Andrew Fraser, Managing Director for APAC at Lightspeed, said. “Consumers are still willing to spend, but competition is high and loyalty is hard to earn and easy to lose. By providing a stellar customer experience, venues can meet and exceed diner expectations before, during, and long after the peak season, resulting in better sales growth.”