In the wake of lockdown easing, various business sectors have demonstrated notable resilience and growth, according to a recent report. Independent veterinary services have seen a significant increase in card transactions, attributed to a rise in pet ownership during the pandemic.
- The ‘Highstreets Bouncing Back’ report by takepayments Limited highlights key sectors that are thriving post-lockdown.
- Independent veterinary services recorded a 47% increase in card transactions, correlating with a 59% surge in pet ownership.
- Sectors such as technology, telecoms, and floristry also experienced substantial growth in card transactions since restrictions eased.
- Conversely, industries like marketing and recruitment face ongoing challenges, reflecting varied recovery patterns across sectors.
The easing of lockdown restrictions has provided a much-needed boost to several business sectors, as revealed in the comprehensive ‘Highstreets Bouncing Back’ report conducted by card payments specialist, takepayments Limited. The report meticulously analysed card transaction data to ascertain which high street businesses are recovering well and those that continue to face difficulties. Key among the thriving sectors are independent veterinary services, which have witnessed a remarkable 47% increase in card transactions from July 19, 2021, compared to the same period in 2019. This growth is largely attributed to the unprecedented 59% increase in pet ownership between 2020 and 2021, as individuals spent more time at home during the pandemic.
Furthermore, sectors such as technology and telecoms have experienced a 32% rise in transactions, while florists have seen a 31% increase. The data underscore a broader resurgence across various industries post-lockdown, with people resuming normal activities and spending. Nevertheless, the report points out that not all sectors share in this recovery equally. For instance, the marketing industry has suffered a 31% decrease in card transactions, possibly due to budget cuts among clients during the pandemic.
Security, insurance, and museums are also among the sectors experiencing a slower return to pre-pandemic sales levels. This slow recovery can be explained by the extended period during which people remained at home, which significantly impacted these industries. The legal and recruitment sectors have similarly struggled, with transactions declining by 15% and 30% respectively.
Sandra Rowley from takepayments Limited remarked on these findings, noting the contrasting fortunes of different sectors: ‘It’s great to see so many industries not only recovering but thriving post-lockdown. The lockdown puppy boom has certainly influenced the surge in veterinary services.’ She added that although some sectors continue to face challenges, it is hoped that as the world gradually returns to normal, spending habits will align more closely with pre-pandemic patterns.
The report sheds light on the disparity in post-lockdown recovery across different sectors, highlighting both the resilience and ongoing challenges faced by businesses.
