According to statistics from the Reserve Bank of Australia, use of cash for consumer purchases dropped 32 per cent to 37 per cent between 2007 and 2017.
"If we went cashless we could save money and improve customer experience.” – Kate Reid
For one Melbourne business then, going cashless was a no-brainer.
“We did a study on how many customers were actually paying with cash and we found 90 per cent paid card anyway,” Cam Reid, co-owner of cult Melbourne pastry provedore Lune Croissanterie tells bluenotes.
Originally set up by his sister Kate, Lune is now five years old but along with growing their business, Kate and Cam have been constantly seeking to improve its efficiency – an approach which may reflect Kate’s background.
As a child, Kate never intended to be selling croissants for a living. “I'd wanted to be a Formula One engineer for as long as I can remember but when I got there it wasn't exactly what I expected,” she says.
After three years as an aerodynamicist in F1, Kate made the decision to search for something else. “My work had taken me into France a lot and the thing I’d looked forward to the most was having breakfast – specifically croissants.”
Kate undertook an apprenticeship with award-winning baker Christophe Vasseur before returning to Australia to open a wholesale croissanterie.