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Unable to travel to their favorite destinations, Greater Bendigo residents are pouring their holiday savings into backyard swimming pools as part of Australia’s “revenge spending” trend. Since the pre-pandemic period in December 2019, net household savings across the country have increased by US$212 billion, the Australian Bureau of Statistics reported. The changes were attributed to reduced ability to spend and increased government support during COVID-19. More news: Will Victorian schools return to face-to-face classes? It’s unclear that Kurt Ross, director of Evolution Pools, Bendigo, said many people in Greater Bendigo are converting their backyards into Bali-style retreats. “We’re busy for the rest of this season and into the summer of next year,” he said. “We have bookings through 2023. People can’t go on holiday, so they’re holidaying at home.” Mr Ross said spending didn’t stop at the poolside, with trees and landscaping often chosen over less expensive poolside tiling options became. The ABS has estimated that NSW, Victoria and the ACT spent more than half of the September quarter under lockdown restrictions, constraining household spending on goods and services. Household spending in those states fell 8.4 percent. But in late 2021, ABS reported that consumers had enthusiastically returned to discretionary spending, with increases in five of the industry categories. With the reopening of physical stores, increased mobility and foot traffic led to a sharp increase in retail clothing, footwear and personal accessories (27.7 percent), cafes, restaurants and takeaway services (12.3 percent), department stores (22, 4 percent) and household goods retail (4.5 percent) and other retail (2.2 percent). Other news: Chicken shortages hit central Victoria Echuca Moama Business 2 Dan Egglestone, business spokesman, said backyard pool installation was also booming in the Campaspe region, with business figures indicating an 18-month wait had become common in Echuca and Moama. The revenge spending phenomenon was first spotted in overseas markets, and the term was coined to explain the pent-up shopping sprees that followed lockdowns and working from home conditions in some countries. Shopper Media Australia conducted the Closer to Home Research Study in 2021 to examine the impact of the pandemic on spending. It turns out that Australians are more connected than ever to their communities and are actively choosing to support their local malls and businesses. It found that 62 per cent of Australians try to support local businesses where possible. Our journalists work hard to bring local, breaking news to the community. Here’s how to access our trusted content:
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January 12, 2022 – 10:00 am
Unable to travel to their favorite destinations, Greater Bendigo residents are pouring their holiday savings into backyard swimming pools as part of Australia’s “revenge spending” trend.
Since the pre-pandemic period in December 2019, net household savings across the country have increased by US$212 billion, the Australian Bureau of Statistics reported.
The changes were attributed to reduced ability to spend and increased government support during COVID-19.
Kurt Ross, director of Evolution Pools, Bendigo, said many people in Greater Bendigo would convert their backyards into Balinese-style retreats.
“We’re busy for the rest of this season and into the summer of next year,” he said.
“We have bookings through 2023. People can’t go on vacation, so they’re vacationing at home.”
Ryan Connaughton has been busy taking swimming pool orders during the COVID-19 pandemic. Image: Darren Howe
Mr Ross said spending didn’t stop at the pool edge, as trees and landscaping were often chosen for the pool surround over less expensive tile options.
The ABS has estimated that NSW, Victoria and the ACT spent more than half of the September quarter under lockdown restrictions, constraining household spending on goods and services. Household spending in those states fell 8.4 percent.
But in late 2021, ABS reported that consumers had enthusiastically returned to discretionary spending, with increases in five of the industry categories. With the reopening of physical stores, increased mobility and foot traffic led to a sharp increase in retail clothing, footwear and personal accessories (27.7 percent), cafes, restaurants and takeaway services (12.3 percent), department stores (22, 4 percent) and household goods retail (4.5 percent) and other retail (2.2 percent).
Echuca Moama Business 2 Business spokesman Dan Egglestone said backyard pool installation has also boomed in the Campaspe region, with business figures showing an 18-month wait has become common in Echuca and Moama.
The revenge spending phenomenon was first spotted in overseas markets, and the term was coined to explain the pent-up shopping sprees that followed lockdowns and working from home conditions in some countries.
Shopper Media Australia conducted the Closer to Home Research Study in 2021 to examine the impact of the pandemic on spending. It turns out that Australians are more connected than ever to their communities and are actively choosing to support their local malls and businesses. It found that 62 per cent of Australians try to support local businesses where possible.
Our journalists work hard to bring local, breaking news to the community. Here’s how to access our trusted content:
