Author: roymorgansocial

Roy Morgan Business Confidence down 2.4pts to 94.9 – lowest since September 2020

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Original article by Roy Morgan
Market Research Update – Page: Online : 3-Aug-22

In July 2022, Roy Morgan Business Confidence fell 2.4pts to 94.9. This is the third straight monthly fall and the first time the index fell for three straight months since the long lockdowns in New South Wales and Victoria in August 2021. Business Confidence is now at its lowest since September 2020 (85.6), and 18.5pts below the long-term average of 113.4. The monthly decline in Business Confidence was driven by a fall in confidence about the prospects for the Australian economy over the next five years, with only 37.6% of businesses now expecting ‘good times’ for the economy over the next five years, down 2ppts from a month ago. Meanwhile, 41.4% (down 0.1ppts) expect the business to be ‘better off’ this time next year and 38.8% (up 0.2ppts) say the business is ‘better off’ financially than this time a year ago.

CORPORATES
ROY MORGAN LIMITED

No Covid re-run: Social, market researchers on consumer mood say 70% tightening belts; young men stressed, third-life crisis at 30 – but 24% free-spending so category discounts not required

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Original article by Roy Morgan
Market Research Update – Page: Online : 3-Aug-22

Roy Morgan CEO Michele Levine, Southern Cross Austereo’s Jasmine Beech and veteran qualitative consumer researcher Neer Korn unpack what’s coming down the track in a new podcast. Social market researchers think the deepening cost of living crisis will play out very differently to Covid. But there are parallels with previous bust cycles. The "lipstick effect" comes into play, and certain categories – homeware, necessities, some everyday luxury branded goods – should hold up. While 70 per cent of Australians report making some cutbacks, a quarter of the population will keep spending – and brands shouldn’t think about discounting to that cohort. For the broader population, retailers must communicate price hikes honestly or lose community trust earned during Covid.

CORPORATES
ROY MORGAN LIMITED, SOUTHERN CROSS AUSTEREO PTY LTD

Climate change bill set to pass

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Original article by Geoff Chambers, Rosie Lewis
The Australian – Page: 1 & 5 : 3-Aug-22

The federal government’s climate bill may be put to a vote in the House of ­Representatives as early as ­Wednesday. The bill to enshrine a 43 per cent per cent emissions reduction target in law is expected to be passed after the Greens and teal independents pushed for amendments that are likely to be accepted by Labor. Meanwhile, Opposition Leader Peter Dutton has indicated that the Coalition will review its emissions reduction targets ahead of the next election. The Senate is likely to vote on the climate bill in September, with the government requiring the support of the Greens and at least one crossbencher.

CORPORATES
AUSTRALIAN GREENS, AUSTRALIAN LABOR PARTY, LIBERAL PARTY OF AUSTRALIA

Higher interest rates tipped to bite

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Original article by Ronald Mizen
The Australian Financial Review – Page: 1 & 4 : 3-Aug-22

Reserve Bank of Australia governor Philip Lowe has reiterated that higher interest rates are necessary to return inflation to the target range of 2-3 per cent and to create a sustainable balance of demand and supply. Financial markets are now pricing in a cash rate of three per cent by December, following the RBA’s third consecutive increase of 50 basis points on Tuesday. The cash rate is now at a six-year high of 1.85 per cent, and many economists expect a rate rise of either 25 or 50 basis points in September. Meanwhile, the RBA has downgraded its economic growth forecast for both 2023 and 2024 to just 1.75 per cent, while it expects the official unemployment rate to reach four per cent by the end of 2024.

CORPORATES
RESERVE BANK OF AUSTRALIA

ANZ-Roy Morgan Consumer Confidence up by 1.7pts to 84.1 – a third straight weekly increase

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Original article by Roy Morgan
Market Research Update – Page: Online : 3-Aug-22

ANZ-Roy Morgan Consumer Confidence rose 1.7pts to 84.1 in the week ended 31 July. However, it is 17.7pts below the same week a year ago (101.8), and 8.2pts below the 2022 weekly average of 92.3. On a State-based level Consumer Confidence was up significantly in Queensland and South Australia, but down slightly in NSW, Victoria and WA. Now 23% (unchanged) of Australians say their families are ‘better off’ financially than this time last year, while 42% (down 1ppt) say their families are ‘worse off’ financially. In addition, 32% (up 2ppts) of Australians expect their family to be ‘better off’ financially this time next year, and 32% (down 3ppts) expect to be ‘worse off’ financially. Only 7% (up 1ppt) of Australians now expect ‘good times’ for the Australian economy over the next 12 months, while 39% (unchanged) expect ‘bad times’. Meanwhile, just 23% (down 2ppts) of Australians say now is a ‘good time to buy’ major household items, while 45% (down 1ppt) say now is a ‘bad time to buy’.

CORPORATES
ROY MORGAN LIMITED, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ

China slams US as Pelosi arrives in Taiwan

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Original article by
The New Daily – Page: Online : 3-Aug-22

US House of Representatives Speaker Nancy Pelosi has arrived in Taipei for her nation’s first official visit to Taiwan in more than two decades. Pelosi expressed her country’s solidarity with the people of Taiwan, stating that it is now more important than ever as the world faces a choice between "autocracy and democracy". China’s foreign ministry has responded to the historic visit by stating that it seriously infringes upon China’s sovereignty and territorial integrity, and relations between China and the US. China deployed fighter jets to the Taiwan Strait ahead of Pelosi’s arrival in Taipei, while the People’s Liberation Army will hold military exercises near Taiwan in coming days.

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Fortescue’s Gaines says more gender diversity needed in ASX firms

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Original article by Stuart McKinnon
The West Australian – Page: Online : 3-Aug-22

Fortescue Metals Group’s outgoing CEO Elizabeth Gaines addressed the Diggers and Dealers forum on Tuesday. She lamented the continued lack of gender diversity among the senior ranks of Australian-listed companies, noting that she became the first female CEO of a major Australian mining company in 2018 and this has not changed much since. Gaines also noted that just seven per cent of speakers at the annual mining industry event are women, while she highlighted the fact that women comprise half of Fortescue’s board.

CORPORATES
FORTESCUE METALS GROUP LIMITED – ASX FMG, DIGGERS AND DEALERS FORUM

Aldi crowned Supermarket of the Year for fifth year running

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Original article by Sezen Bakan
The New Daily – Page: Online : 3-Aug-22

Aldi has topped Canstar Blue’s annual supermarket satisfaction ratings for a fifth consecutive year, ahead of Coles, Woolworths and IGA. Aldi Australia’s MD Oliver Bongardt said the Germany-based retailer has saved Australians more than $7 billion since entering the local market in 2001. Canstar Blue notes that Australia’s supermarkets have shifted their focus to value and the overall customer experience rather than competing on price. Aldi was also recently named the Supermarket of the Year by Roy Morgan for the second year in a row.

CORPORATES
ALDI STORES SUPERMARKETS PTY LTD, COLES SUPERMARKETS AUSTRALIA PTY LTD, WOOLWORTHS SUPERMARKETS, IGA, ROY MORGAN LIMITED

Australian streaming apps from TV brands chip away at Netflix dominance

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Original article by Josh Taylor
The Guardian Australia – Page: Online : 3-Aug-22

Data from Sensor Tower shows that the Disney+ app was downloaded almost two million times in Australia during the last 12 months. Disney+ retained its status as the top downloaded entertainment app in Australia, ahead of Amazon, TikTok and Netflix. The streaming apps of local companies Nine, the ABC, Seven and Stan were also among the 10 most-downloaded apps during the last year. Sensor Tower’s data is based on the number of new downloads from the Apple and Android stores. Netflix still dominates Australia’s streaming video sector; research by Roy Morgan in February found that Netflix has more than 12 million subscribers nationwide.

CORPORATES
SENSOR TOWER, DISNEY+, AMAZON PRIME VIDEO, TIKTOK, NETFLIX INCORPORATED, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, SEVEN WEST MEDIA LIMITED – ASX SWM, AUSTRALIAN BROADCASTING CORPORATION, STAN ENTERTAINMENT PTY LTD, ROY MORGAN LIMITED

‘No need’: Minister dumps Senate call for ownership probe

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Original article by Miranda Ward
The Australian Financial Review – Page: 29 : 27-Jun-22

A Senate committee in 2021 recommended holding a royal commission into media ownership. However, Communications Minister Michelle Rowland says the new federal government does not believes that such an inquiry is necessary, although she has stressed the need to closely monitor media concentration to ensure that communities continue to have adequate access to local news content. Rowland adds that issues such as the anti-siphoning list for sports broadcasts and ensuring that free-to-air channels are prominently displayed on smart TVs are among the government’s priorities.

CORPORATES
AUSTRALIA. DEPT OF INFRASTRUCTURE, TRANSPORT, REGIONAL DEVELOPMENT AND COMMUNICATIONS