Recent reports highlight the surprising success of independent veterinary services post-lockdown.
- A significant 47% increase in card transactions for veterinary services was observed.
- Pet supply sectors also saw a positive growth with a 19% increase in transactions.
- Technology, telecoms, and florists are among other sectors showing a strong post-lockdown recovery.
- Marketing and recruitment sectors continue to face challenges, with notable declines in transactions.
The post-lockdown period has led to unexpected trends in business performances across various sectors. Independent veterinary services have emerged as leaders in recovery, showcasing a remarkable 47% increase in card transactions from the week of the final easing of lockdown restrictions in July 2021 compared to the same period in 2019. This surge is attributed primarily to the substantial 59% rise in pet ownership from 2020 to 2021, as individuals spent more time at home.
Similarly, pet supply businesses benefitted from this trend, experiencing a 19% uptick in transactions. The growing companionship needs during the pandemic have established these sectors as resilient and thriving in the face of adversity. Other sectors also reflected positive changes. The technology and telecoms industries have bounced back with a 32% increase in transactions, while florists saw a 31% rise. These figures indicate a shift in consumer priorities and the adaptation of businesses to meet new demands.
Despite these positive changes, several industries continue to face significant challenges. The marketing sector has been hardest hit, with a 31% decrease in transactions compared to 2019. This downturn is likely due to reduced marketing budgets during the pandemic. Alongside marketing, recruitment and haulage sectors have experienced declines, facing a slow path to recovery.
Meanwhile, sensitive sectors such as security, insurance, and museums are rebounding at a slower rate, reflecting the enduring impacts of the pandemic. As spending patterns evolve, these sectors may require extended timeframes to fully recover. The high street bouncing back report presents an insightful overview of these dynamics, emphasizing both resilience and challenge.
The varied recovery rates across industries highlight shifting consumer behaviors and the enduring effects of the pandemic on business performance.
