Post COVID-19 Market Response – Rebuilding The Hospitality & Retail Industry In Victoria

Post COVID-19 Market Response – Rebuilding The Hospitality & Retail Industry In Victoria

To say that the start of 2020 has been a rough one would be an understatement. The current Covid-19 pandemic, which has now infected more than 5 million people worldwide, is difficult enough, but it was only just months ago that Australia was dealing with some of the most devastating bushfires our nation has ever seen. One positive that we have seen emerge from these tragic events, however, is the growing sense of community. The pandemic has reminded a lot of people just how connected we all are, and it has been incredibly uplifting to see people embracing and supporting one another.

With infection rates now declining, it’s time to start looking toward the future. If we can make some positive alterations, perhaps Victoria can grow into a stronger and more sustainable version of its prior self. One thing is certain: Big changes are happening — particularly with regard to consumerism. Priorities have shifted, and human behaviours will reflect that. People want to support the individual, a local resident, a neighbour. They want to know that their money is helping someone — knowing the purchase of their goods or services is really going to make a difference to that owner and their employees.

It adds a personal touch knowing that a café or restaurant is family-run or is perhaps a startup by two creative, young friends. Every time you visit these places, you know you are supporting someone’s dream, keeping our local economy afloat, and filling our suburbs with vibrant hot spots. It’s what we’re known for in Victoria, and we have to do what we can to ensure this wonderful characteristic of this great state remains. Moving forward, if we are able to nurture this ongoing conversation to support local trading, we have the opportunity to really see small businesses flourish.

This next phase of the 2020s is going to be all about championing the little guy. It will be about moving our spending away from global, money-hungry moguls to the local shop down the street. Purchasing our activewear from an Australian-born designer, picking up thoughtful gifts from a nearby florist, or collecting an array of locally sourced cheeses and charcuterie from your local delicatessen to prepare a grazing board for your next friendly get-together — this is where it’s at. Quality, authentic goods and services from local Victorians.

It is time to start thinking about this how this next phase will roll out. The Department of Health and Human Services has assessed how effectively we have been able to slow the spread of the coronavirus and the Victorian Government has unveiled a plan to gradually reopen hospitality establishments to dine-in patrons on June 1. Whilst social distancing rules will still be in play and extra safety precautions will be enforced, we will slowly see our society regain its momentum.

So what role do you want to play in this new era? Will you be an active participant, frequenting your coffee shops for a flat white or your local wine bar for a chilled rosé? Or will you be on the other side of the bar, serving up a new dose of creativity and deliciousness to your neighbourhood? If you’ve got an inkling of an idea for small business and any of what we have discussed resonates with you, we would love you to get in touch with JBB for a chat. We want to help you, help Victoria, be the best version of itself. We want to encourage residents to feed their money back into our local market, to fuel self-sufficiency in our state, and become widely known for our vibrant, independently owned businesses.

Contact Just Business Brokers if you have any questions. JBB are passionate about the hospitality and retail industry and would love to help. Our industry leading and experienced brokers are just a click or call away, and you can contact us today on karli@justbusinessbrokers.com or 0409 965 540.

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