News & Views

With just under 80% of all Australians receiving at least 2 doses of the COVID-19 vaccine by the end of 2021, businesses were finally given a fighting chance to return to normality. Whilst booster shots are still being rolled out and restrictions are still varied from state to state, the following data indicates that the Australian economy is slowly rebuilding and becoming more resilient to the disease despite record case numbers with the arrival of the Omicron variant in late November.

A strong start to 2021 was brought to an abrupt halt in June and July, as NSW's infection rates skyrocketed and new cases popped up nationwide, due to the onset of the Delta variant of COVID-19. Despite this variant being far more infectious than previous one, the nation did however (at least initially) appear better prepared. Businesses adapted to current circumstances where possible, while consumers appeared less uncertain. In this latest blog post, we unpack some of the key trends we’re seeing in the data.

This article was first published by Inside Retail on the 29th of July 2021.

About the author: Jerry Macey is Executive Manager, Consumer and Diversified Industries – Business Banking at Commonwealth Bank.

Inaugural CommBank Consumer Insights Report reveals how the pandemic has reshaped consumer behaviours and intentions.

April marked an important milestone for Australia, one year on from the main COVID outbreak of 2020. This allows for the comparison of a time of bleak outlook and uncertainty, with one where many economic indicators appear more in line with performance prior to the pandemic.