Unlocking Insights: Local Spend Data from 2024

Published on 16 January 2025

Discovering Local Economic Trends with Spendmapp

The City of Unley has access to local credit card transaction data through a subscription to Spendmapp, an innovative tool that helps better understand spending habits within the community. By analysing the data from January to December 2024, opportunities to support local businesses and encourage economic growth can be identified.

2024 Expenditure Highlights

• Total Local Spend: $1.167 billion
• Resident Local Spend: $360.7 million (30.9%)
• Visitor Local Spend: $806.8 million (69.1%)

This data demonstrates the significant contribution of visitors to Unley's economy, making up over two-thirds of the local spend. It highlights the importance of maintaining a vibrant, visitor-friendly environment in business precincts.

Spending Trends

• Resident Escape Spend: $1.002 billion
  Residents spent heavily outside the local area, indicating opportunities to capture a larger share of this expenditure locally.
• Resident Online Spend: $897.1 million
  Online spending continues to grow, emphasizing the importance of e-commerce strategies for local businesses.

Transaction Overview

• Total Transactions: 16 million
• Average Transaction Value: $73
• Peak Month: December 2024 ($107 million)
  The holiday season remains the most lucrative period for local businesses.
• Trough Month: January 2024 ($86.3 million)
  Post-holiday spending dips, presenting an opportunity for targeted campaigns to stimulate activity.

What This Means for Your Business

The data provides a clear picture of spending patterns that local businesses can leverage:

1. Focus on Visitor Engagement: With visitors contributing significantly, businesses should prioritize exceptional customer experiences, targeted marketing, and tailored offerings.
2. Encourage Local Loyalty: Campaigns or loyalty programs could help capture more of the $1.002 billion that residents spend elsewhere.
3. Expand Digital Presence: Considering the $897.1 million spent online by residents, investing in e-commerce could drive growth.