Despite recent interest rate reductions by the Reserve Bank of Australia (RBA), many Australian households continue to feel the squeeze of rising living costs.
While lower rates ease mortgage repayments, the broader economic landscape indicates that relief is not reaching all corners of the population.
The RBA’s decision to lower interest rates was aimed at stimulating economic activity and easing financial burdens. However, this relief is often offset by persistent inflation in essential categories such as groceries, energy, and rent.
Although headline inflation has moderated, non-discretionary items remains stubbornly high while food prices, utility bills, and healthcare costs continue to rise.
Real wage growth is sluggish and has not kept up with inflation. Household incomes are struggling to keep up with spending on essentials.
Vacancy rates in major cities like Melbourne and Sydney remain low, driving up rents and forcing many tenants to make difficult trade-offs in housing quality or location.
How Access Mercantile Helps Businesses Support Their Clients
In this challenging environment, businesses must be proactive in supporting their customers—especially those facing financial stress.
Access Mercantile offers a strategic advantage through early debt collection intervention, helping businesses maintain cash flow while preserving customer relationships.
By engaging early, businesses can avoid the escalation of debt and demonstrate empathy toward customers who may be struggling. When traditional contact methods don’t yield engagement, Access Mercantile’ s experienced field workforce plays a crucial role in re-establishing customer engagement, offering face-to-face support when necessary to rebuild trust and facilitate resolution.
Corey Bakes is our Chief Financial Officer with over 20 years experience in a senior retail, private equity and financial services roles. Fellowship with the Institute of Chartered Accountants in Australia and Trained Mentor of the ICA.
Experts in the credit management ecosystem, Access Mercantile Services have knowledgeable, dedicated and specialised resources to ensure we keep our clients customer engaged and protect your brand. With a fully integrated end to end credit management model. Underpinned by innovation and technology, we act quickly and with agility to deliver a high success rate for your business. Access Mercantile is ISO accredited, fully compliant and industry affiliated. For more information you can reach us on corporate@accessmercantile.com.au