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Two-in-five Australians set to shop the End of Financial Year sales

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Two-in-five Australians set to shop the End of Financial Year sales

 

New research from PayPal reveals that two-in-five (38%) Australians plan to shop during the End of Financial Year (EOFY) sales, but not predominantly for traditional tax-deductible work expenses. Instead, a significant portion of shoppers will be focusing on personal items such as clothing or fashion (51%), electronics (31%), homewares and garden items (26%), and health and beauty products (12%).

The current economic climate is a major factor influencing this broader bargain-hunting behaviour. More than half (52%) of Australians believe that online sales can help them manage cost-of-living pressures. Reflecting this sentiment, two-in-five (42%) will shop the EOFY sales online rather than in-store, driven by the convenience of price comparisons and the perception of better deals online.

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“As the cost-of-living crisis continues, it’s clear that Australians are eager to save money whenever and wherever they can, looking to online sales events to help reduce spending,” said PayPal Consumer Shopping Expert Bonnie Brady. She advises that while sales can be an excellent opportunity to save on necessary items, planning purchases and setting budgets are crucial to avoid impulse buying and overspending.

However, the shift towards online shopping comes with increased security concerns. A substantial majority of Australians (93%) are worried about online security, with scams becoming more sophisticated and harder to recognise. This concern has grown over the past year, with two-in-five (40%) Australians more worried about online security than before.

Despite these concerns, there is a strong awareness of online security measures among Australians. About 84% feel confident in their understanding of how to protect themselves against scams, and 99% are familiar with key online safety techniques such as using complex passwords (87%), diversifying passwords (76%), and avoiding links in text messages (76%). Additionally, four-in-five (84%) prefer to use secure payment options like PayPal when shopping online.

Unfortunately, heightened vigilance against scams has led to some disruptions in legitimate activities. For example, 87% of Australians avoid phone calls from unknown numbers due to scam fears, and 15% have missed a genuine payment assuming it was fraudulent.

Bonnie Brady emphasises the importance of staying informed about online safety: “The convenience of online shopping has never been more popular, but we must all do the work to learn how to stay safe online, and to keep that understanding up as new threats emerge. The protective steps that each of us can take are simple and often free, but no one can take them for us.”

To help consumers shop safely and smartly during the EOFY sales, PayPal offers the following tips:

  1. Plan purchases: Make a list and budget before shopping to avoid impulse buys.
  2. Scrutinise suspicious sites: Look out for fake retail sites by checking for anomalies and verifying URLs.
  3. Check reviews: Look up online reviews to avoid fraudulent sellers.
  4. Understand return options: Ensure the retailer has a reasonable return policy.
  5. Compare prices in real time: Use tools like PayPal Honey to find the best deals and apply discount codes automatically.
  6. Keep financial details safe: Use secure payment methods like PayPal to protect your information.

These strategies can help Australians make the most of the EOFY sales while staying safe and within budget.

 

For more business news, click here.

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Lismore’s 76% occupancy rate a sign of positive recovery

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Lismore’s 76% occupancy rate a sign of positive recovery

 

By Samantha Elley

Lismore’s business districts are slowly gaining momentum as they get on with flood recovery.

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The latest shop to open, Trident Fish & Grill, in Keen Street was celebrated last week and was symbolic of the city’s recovery and rebirth of the CBD.

“As a council, we are very focused on economic recovery,” said Mayor Steve Krieg.

“It’s not just about the CBD, it’s about the South Lismore industrial estate and North Lismore and all the areas so badly affected.

“But a really optimistic sign is we are back up to 76 per cent occupancy in the CBD across the block.

“That varies from street to street… and that’s a real positive sign in only two and a half years.”

Cr Krieg said it was also a call out to anyone looking to invest in the Lismore CBD.

“Chris and the Trident group started in Ballina,” he said.

“Then up to Alstonville and now they have expanded their network into the Lismore CBD.

“Any other businesses that are looking at relocating or expanding, Lismore is well and truly open for business.”

The mayor is encouraging any new business to hurry up and set up in Lismore before it’s too late.

“I say to many potential investors, if you don’t have a footprint in Lismore over the next 12-18 months you are going to regret it,” he said.

“Because you won’t get one and the prices are going to skyrocket.

“Talk to Lismore City Council …we are really proactive in everything we are doing to trying to get people back into the CBD and get our industrial estate up to full occupancy.

“We want you here, we will do everything we can to help you get here.”

An audit held by Lismore City Council in the week of June 17, of shopfront and upstairs premises in the CBD, showed the positive growth of businesses, despite the increased cost of living pressures.

“It was always going to be slow increases once we hit 70 per cent occupancy but to reach an impressive 76.8 per cent by June 2024 is great news,” said Cr Krieg.

“And with the Worker’s Club soon to reopen, it really is the time to invest in Lismore.”

Recent SpendMapp data has also signalled growth in the number of people visiting the business centres.

Total spend was up 10 per cent in the CBD in May, compared to the same time last year. This included a 20.9 per cent increase in dining and entertainment, a 9.6 per cent jump in professional services, 1.8 per cent increase in general retail and 2.3 per cent increase in food retail.

Occupancy rates across Lismore CBD

  • Keen Street – 82.4 per cent, up from 81.1 per cent
  • Magellan Street – 81.7 per cent up from 76.3 per cent
  • Conway Street – 77.3 per cent up from 72.1 per cent
  • Carrington Street – 77.3 per cent up from 73.1 per cent
  • Molesworth Street – 77 per cent up from 74 per cent
  • Woodlark Street – 65 per cent up from 60.7 per cent

 

For more local Lismore news, click here.

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NSW Government Allocates $500,000 to Boost Women-Led Social Enterprises

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NSW Government Allocates $500,000 to Boost Women-Led Social Enterprises

 

The NSW Government has allocated $500,000 to the Social Enterprise Council of NSW and ACT (SECNA) for a two-year initiative to support women-led social enterprises. This effort is part of the Women in Business Networks (WIBN) grant program, launched in 2023 to empower women economically by backing women-led businesses.

Under the WIBN program, $2 million has been earmarked over four years to help women in small businesses build capacity and leverage formal networks. The 2024 WIBN grant focuses on assisting women in starting or expanding social enterprises in NSW.

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SECNA’s Role in Empowering Women

This year’s grant recipient, SECNA, will support 500 women, including those with disabilities and from culturally and racially marginalised communities. The Women in Social Enterprise project aims to connect these women with other social entrepreneurs, fostering robust networks across key sectors and industries. These networks will enable women to share experiences, access resources, and support each other’s success.

Building a Supportive Network

The project will establish a network of champions across NSW, serving as key contacts for women looking to start or build their social enterprises. These champions will host local face-to-face networking events and connect women to necessary resources and support. Participants will also have access to advice through an online community for peer support and virtual webinars. Expert advice and collaboration opportunities will help women overcome challenges and set up their social enterprises for success.

For more information about the WIBN grant program, visit the NSW Women in Business Networks website. Women interested in starting or growing their social enterprises can register for SECNA’s program on the SECNA website.

Government and SECNA Statements

Minister for Women Jodie Harrison emphasised the importance of empowering women in business:

“Our government is committed to empowering women in business to seize opportunities to succeed financially and independently, as well as making it easier for like-minded women to connect and share their knowledge and expertise. The Women in Business Networks grant is designed to support women who are on an exciting path of entrepreneurship and are set to flourish with a little extra support. This grant ensures that women-led businesses can continue to go from strength to strength, not only achieving their own goals but inspiring others to begin their own business journeys.”

 

For more business news, click here.

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Ballina gets ‘beefed’ up with new pie shop in town

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Ballina gets ‘beefed’ up with new pie shop in town

 

By Samantha Elley

If you’ve been wondering about the new store on River Street in Ballina, wonder no further.

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Beefy’s Pies have made their way down from the Sunshine Coast ready to fill the bellies of Northern Rivers locals.

These award winning pies have crossed the border, opening its first NSW store at 166-172 River Street, Ballina.

“We’re excited to receive a warm welcome from the Ballina and Northern Rivers community so far and can’t wait to have everyone in store to taste the Beefy’s difference,” says Jason Lyons, General Manager – Operations at Beefy’s.

“Beefy’s will bring its full range of award-wining pies, sausage rolls, sweets and coffee to the Northern Rivers community, making it a go-to destination for travellers and locals alike.

“Our new Ballina team can’t wait to get to know everyone by name, pie and coffee order. Our opening weekend is the best way to kick this off, but we’ll be teaming up with the local community to support businesses, events and groups in the future with our Pie Drives and fundraising events.”

While the store opened its doors on Friday, 28th June, the official Beefy’s Ballina community launch is Friday 12th to Sunday 14th July with one-weekend only deals and children’s entertainment on offer.

Ballina is Beefy’s 10th store and the first in in New South Wales. It joins locations across South-East Queensland including Gympie, Traveston, Maroochydore, Buderim, Kawana, Aussie World, Glasshouse, Mango Hill and Ningi.

 

For more local Ballina news, click here.

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