Provides Australian consumers and business owners with an insight into household and business spend
Commonwealth Bank has released a new business sales indicator (BSI). It tracks the value of credit and debit card transactions processed through Commonwealth Bank merchant facilities across 20 industry sectors throughout Australia.
Symon Brewis-Weston, executive general manager of local business banking at Commonwealth Bank, said that BSI would provide Australian consumers and business owners with an insight into household and business spend. Mr Brewis-Weston highlighted the importance of the Indicator’s industry and state insights and the important role this type of knowledge will play in the management and operation of Australian businesses.
He said: “The Indicator plays a vital role for businesses across the country. It’s insight into spend patterns by state and industry will prove invaluable for those seeking to improve their sales and see more effective business planning and management.
The bank said that BSI will be reported on a monthly basis and available to the public on the bank’s website and to media through media release on or around the 20th day of each month.