paywave-2

Don’t Bank on the Bank as a Drawcard

Fewer people visiting bank premises means less foot traffic!

“ Retailers and hospitality traders who are expecting high foot traffic generated in strip retail locations by the local bank branches to be continued are now being affected by changes in the way consumers inter- relate with their bank branch.

As more people migrate to paywave on cards and wave your phone at the scanner methods of payment,  the number of people actually carrying cash continues to diminish. People just don’t visit the bank branch anywhere near as much they used to.

It can be expected that suburban bank branches will no longer be such a magnet for foot traffic to assist retailers in the suburban high street.

Indeed we are likely to observe the physical number of suburban bank branches diminishing moving forward.  Whether these empty  (and often spacious ) bank premises will be re- let to interesting drawcard alternatives is problematic.

So if you are in retail or hospitality in a suburban high street, make sure you are interesting and exciting enough to draw your own crowd! ”


Graham O’Hehir – Managing Director

MORE NEWS STORIES

Tax inspector investigating financial documents through magnifying glass forensic accounting or financial forensics inspecting offshore company financial papers documents and reports.

Business Sale VS. Company Sale: What is the difference?

As a potential business purchaser, buying a company and buying a business may sound similar, however, there are aspects that make the two options quite different. Business Sale When compared to a company sale, a business sale is generally Read more
Cropped shot of little stylish boy counting money at workplace. Cute caucasian child imitating businessman or bookkeeper.

How Much is My Business Worth?

How do Business Brokers determine the asking price of a business? In short, they don’t take a quick look at the premise and take an educated guess. There are specific methods that allow Business Brokers to Read more
renzo

Get To Know Renzo Deleo

Our team are a diverse group of experienced Business Brokers and/or Business Valuers. So much so, that we thought we better introduce them to you so you can get to know them better.   How long have Read more