New data from Tyro reveals how Aussies are eating, spending and drinking in 2024

One third of Aussies (41%) are less likely to shout their mates a drink now, compared to a year ago. They’re also opting to order drinks using a QR code to avoid the awkward conversation with mates, according to the newly released Eat, Pay, Love Hospitality Report by Tyro Payments     

This Report reveals insights from over 1,000 Aussie consumers and highlights that, despite financial pressures, in a post COVID era, Aussies are still keen to go out and spend but perhaps with a little more caution.  
 
Tyro data shows that Aussies are spending about the same on average per visit at drinking establishments in Sydney, $34.15 (FY 2023/24) compared to $34.03 in the previous Financial Year (FY 2022/23).  Whereas, in Melbourne the average spend on a tipple has slightly decreased by 0.81%, now $36.43 (FY 2023/24) compared to $36.73 (FY 2022/23).  
 
Tyro’s Chief Growth Officer Dee Bannatyne said, “While people may have shouted their mates in the past, they’re now spending more consciously and prioritising their own spending so that they can continue to go out and have a good time.”  

“In an era when cost of living pressures are at an all-time high, we wanted to better understand how Aussies feel about spending their time and money.”   

“What we found was that there’s more to the story than blanket conservative spending. Across a large cross-section of ages and locations, Aussies told us that, on the whole, they love going to their local restaurants and pubs – they’re just spending their hard-earned cash a little bit differently than they did before. Paying for themselves rather than their mates, using ever-advancing hospitality tech like QR-code ordering, and opting to tip less.”   

“We know from our merchant base that hospitality businesses are regularly adjusting to these changing behaviours with special offers and menu pivots so that Aussie consumers continue to Eat, Pay, Love.”  

Tyro Eat, Pay, Love Report Key Takeaways:  

• More than a third of Aussies are less likely to shout their mates a drink now, compared to a year ago, opting to order via a QR code instead.   

•  More than half of Aussies are consciously ordering less expensive dishes when they eat out to save money. But, with many restaurants having to increase prices to cover their costs, one in three Aussies is willing to pay more for a meal.  

• Aussies say it’s costing $91 a week, on average, just to stay in.   

• More than half of Aussies say going to their ‘local’ makes them feel a part of their community.  

• 21% of Aussies are willing to cut back on clothes, shoes and make up and 20% would prefer to go without takeaway so that they can go out instead.  

• $5.50 for a coffee and $8.50 for a beer is the average price Aussies are willing to pay.   

Check out the full report here:  Tyro Eat Pay Love Report
  

About Tyro Payments 

In 2003, Tyro set out to make payments the easiest part of doing business. Today, we’re still into business big time, powering more than 71,000 merchants across Australia with in-store, online and on-the-go payment solutions. Working with more than 700 partners, we create seamless payment experiences for hospitality, retail, services and health providers, with integrated banking and lending solutions designed to help unlock the potential of every business. For more information, visit tyro.com

 Media enquiries:  
Lucy Rowles, Communications Manager, 0420 669 267