Economic Snapshots from Spendmapp by Geografia
As a subscribing Council to Spendmapp, we are pleased to be able to provide economic snapshots highlighting how our residents and visitors spend their money locally, and also how our residents spend their money outside of our area.
Spendmapp, a multi-award-winning bank transaction analytics application for local governments, is owned and operated by Geografia and allows us to view expenditure activity in, to and from our Council area by using bank transaction data (EFTPOS and credit/debit).
In short, it gives us an image of our economy every day so we can see how trends and events are changing local conditions. The information can be used by Council and the wider community in grant applications, event analysis, and economic development strategies.
Our Spendmapp subscription allows us to gather data from 25 ‘suburbs’ within our Council area, including Joanna which is specifically home to the World Heritage listed Naracoorte Caves Conservation Park.
Over 50% of Australians now live in a Council area using Spendmapp.
The economic activity presented by Spendmapp can be split into five main types of expenditure:
- Total Local Spend - this is the total spending inside our Council area.
- Resident Local Spend - this is the spending by residents and local businesses inside our Council area.
- Visitor Local Spend - this is the spending by non-residents and non-resident businesses inside our Council area.
- Resident Online Spend - this refers to the amount spent by local cardholders and businesses on online goods and services. As supply chains globalise and the costs of online shopping and e-commerce decreases, this figure is forming a growing share of expenditure activity and is likely to keep growing. Online spend includes expenditure through services such as eBay, Afterpay and Airbnb.
- Resident Escape Spend - this is the total spending by residents and local businesses outside of our Council area - an extremely useful figure for capturing and recognising the dollar value that is leaking from our local economy.
Spendmapp data can also be used to analyse an event impact. Using Event Tracker, Spendmapp draws on the daily spend database and is a tool that lets us compare the period during which an event occurs with one or more benchmark periods. It’s useful for seeing whether an event hosted in the Council area generated more or less spend than the same event in the previous year, or with another similar time period when there was no event.
Monthly spending summaries for our Council area are generally provided to us towards the end of the following month. We will be providing the following reports on our website: Quarterly Economic Snapshots, Spending Insights Reports, Monthly Reports and Year in Review Reports.
*To read through the Spendmapp Glossary of Terms (which explains what different expenditure categories cover and more), CLICK HERE.
*Due to privacy measures, individual spend details are not available through the Spendmapp data.
*Spendmapp data insights can be used by local businesses and community groups as long as they are appropriately referenced. It should be obvious to the reader that the spending data is derived from Spendmapp. For example, information with Spendmapp data should be referenced with Data source: Spendmapp by Geografia (YYYY).
