As societies emerge from lockdown, certain businesses exhibit remarkable growth, while others face continued challenges.
- Independent veterinary services have thrived, showing a 47% increase in transactions post-lockdown, driven by the rise in pet ownership.
- Technology, telecoms, and florists also experienced growth, reflecting changing consumer priorities and behaviours.
- In contrast, the marketing sector has struggled, with a significant 31% drop in transactions during the same period.
- The recovery landscapes of various industries show varying speeds in bouncing back to normalcy.
Independent veterinary services have emerged as a standout sector thriving in the post-lockdown landscape. The sector recorded a significant 47% rise in card transactions from the week following the easing of restrictions on 19th July 2021, compared to the same timeframe in 2019. This growth has been largely propelled by a substantial 59% increase in pet ownership during the pandemic, with people spending more time at home.
The positive trend is not limited to veterinary services. Pet supply businesses observed a 19% increase in transactions, reflecting the heightened demand stemming from increased pet ownership. Moreover, technology and telecoms along with florists saw a rise in card transactions by 32% and 31% respectively, indicating shifts in consumer priorities towards connectivity, remote working necessities, and personal gestures as people adapted to new norms.
Conversely, some sectors have faced difficulties despite the lifting of restrictions. The marketing sector experienced the most significant decline, with transactions plummeting by 31% compared to pre-pandemic levels. This downturn may be attributed to budget tightening by clients during COVID-19. Other sectors showing sluggish recovery include recruitment, haulage, museums, and education, with decreases in transactions ranging from 19% to 30%. The insurance and legal sectors, while slightly less affected, still face challenges with a downturn in transactions by 18% and 15% respectively.
Sandra Rowley from takepayments Limited remarked on the diverse recovery rates, noting the strength of certain industries despite the pandemic’s challenges. She highlighted the influence of the ‘lockdown puppy boom’, particularly benefiting veterinary services, with expectations that consumer spending patterns will gradually normalise as global conditions continue to stabilise.
The post-lockdown period has revealed varied recovery trajectories across industries, with some thriving significantly while others struggle to regain momentum.
