Online Retail Sales Surge

September 7th, 2020
Household spending habits have changed dramatically during the COVID-19 pandemic due to lockdowns and social distancing. While most businesses in Australia and New Zealand are struggling to pay the bills, online retail sales are booming as people migrate from the high street to the virtual shopfront. Online retail sales were up 62.6% for the year in Australia, with online sales also emerging as a big winner in the New Zealand economy. According to the latest data from National Australia Bank, online retail sales were up 6.7% for the month, giving them a massive boost of 62.6% for the year. Over the month, spending on games and toys was up 15.2%, with fashion up 12.7% and takeaway food sales rising by 11.2%. Overall, Australian consumers are swapping dining for takeaway food, and seeking domestic entertainment options as they spend more time at home. Grocery and liquor sales were up 6% for the month, which parallels a drop in the hospitality sector. According to NAB chief economist Alan Oster, the extended lockdown in Victoria is having a big influence on sales figures: “In year-on-year terms, online sales in Victoria are nearly double what they were in the same month in 2019. The…

Shrinking Economy Creates Mortgage Stress

September 4th, 2020

Australia’s shrinking economy continues to create stress, with weakening commercial and employment conditions forcing the nation’s first recession in many years. The pandemic is heaping pressure on every part of the economy, as new data from Digital Finance Analytics (DFA) highlights the struggle felt by many mortgage holders. Australian households are under very real mortgage stress, including 1.5 million people […]

Fixing Bikes & Lives

September 1st, 2020

The COVID-19 pandemic has led to isolation and loneliness for many, as mental health services around the world struggle to cope with increased rates of anxiety and depression. The insular nature of the virus has seen people look inwards and change the way they interact with the world around them. From exercise routines to home cooking and binge TV, people […]

Working from Home Here to Stay

August 19th, 2020

The coronavirus pandemic continues to shake up the global workplace, with more people working from home than ever before. Once the domain of artists, freelance writers, and IT professionals wearing shorts, working from home has become the new normal for millions of people across the professional landscape. According to some experts, this trend is here to stay, as workers and […]

Mental Health in a COVID World

August 19th, 2020

As we face the reality of a COVID-19 world, mental health has risen to the surface as an immediate and far-reaching health challenge. While the acute health impacts of the virus are well-known, and the economic effects of the lockdown are impossible to ignore, mental health challenges can be harder to define and more difficult to treat. As fear, worry, […]

House Prices Down but Measured

August 18th, 2020

Australian house prices continue to fall due to the prolonged economic impact of the COVID-19 pandemic. The slow and measured decline can be seen across the country, with Canberra and Adelaide the only capitals to experience positive growth over the last month. According to figures from Core Logic, national dwelling values were down -0.6% in July, with -1.6% growth recorded […]

How Aussies Spent their Stimulus Payments

August 10th, 2020

The Australian Government continues to invest record amounts of money into the national economy in an effort to insulate against the negative effects of COVID-19. Along with the massive JobKeeper and JobSeeker programs, one-off $750 stimulus payments have been made to millions of Aussies over recent weeks. Data from the Australian Bureau of Statistics (ABS) tells us how the money […]

Hobbies at Home

August 3rd, 2020

The last few months have been challenging for everyone, as social distancing and isolation make the world a smaller and less friendly place. While keeping people apart is designed to bring us together in the long-run, it also gives us time and space for introspection and self-discovery. Lots of people around the world are discovering new hobbies during this time, […]

The Pros & Cons of the HomeBuilder Grant

July 22nd, 2020

The Australian Government announced HomeBuilder in June in an effort to stimulate growth and keep construction jobs alive. The scheme is available for buyers of newly built houses or units, and also covers substantial renovations of at least $150,000. For people and projects that meet the strict criteria, there is $25,000 available as a cashback to help offset the cost […]

The Impact of Super Withdrawals

July 20th, 2020

Australians are affected by COVID-19 in different ways, with some people doing fine economically and others relying heavily on government support just to bring food onto the table. Along with the huge numbers that define the JobKeeper and JobSeeker support packages, desperate times have seen around 2.7 million early withdrawals from superannuation accounts. While this money has assisted many and […]

Household Spending During the Pandemic

July 17th, 2020

The reality of COVID-19 continues to affect economic growth, as health and isolation measures endure in direct response to the pandemic. Household spending is down on a universal basis, with the economies of Australia and New Zealand severely affected despite relative success in containing the virus. The situation is changing by the day, with leading industry research company IBISWorld publishing […]