Aussies are removing big businesses to their list of places to visit since their focus is shifting towards small and medium businesses which can offer personalised experiences.
Independent EFTPOS banking institution Tyro has provided figures that revealed restaurants, holidays, and entertainment can be expected to jump to 10 percent this year as ‘personalised hospitality’ is being embraced by customers.
Tyro CEO Gerd Schenkel said that last December alone, 62,000 small and medium hospitality businesses employed up to 200 people each and experienced staggering sales of 10 percent to $8 billion due to people who flocked them for celebration needs.
“Tyro Payments expects this trend to continue in the second half of the 2017 financial year, as Australians embrace the character and personal touch that small and medium sized hotels and restaurants provide,” Schenkel said.
Based on the results of thousands of Tyro’s customers, they estimated the sales of small and medium hospitality businesses to reach $80 million this 2017, higher compared to the expected results for larger hospitality business which is $24 billion.
“It seems David is beating Goliath when it comes to the hearts and minds of Aussie consumers, as personalised hospitality beats the often homogenous and soulless experience of some large chains,” Schenkel said.
78,000 small and medium sized retailers can expect a booming 2017 with a 3 percent climb in December 2016 compared to December 2015. Tyro estimates that these businesses will reach about $215 billion in sales this year, which is bigger than $200 billion for the large retailing chains.
“In December alone, small and medium sized retailers processed about $23.5 billion in sales, a 3% increase on the same period the previous year. This was a cracking finish to 2016, and we expect more of the same over the coming six months to the end of the financial year,” Schenkel said
”The sales figures show that smaller retailers are defying the drift to international online sales, and continuing to provide a viable alternative for discerning Australian shoppers.”
With the data provided by Tygo, business brokers victoria will experience more customers and sellers in small and medium hospitality businesses since customers have embraced the ‘personalised hospitality’ service that is fit for what customers are looking for.