Women dominate Australia’s vitamins, minerals and supplements market

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Original article by Roy Morgan
Market Research Update – Page: Online : 1-Jul-20

New Roy Morgan data shows that 8.24 million Australians aged 14+ (39%) buy vitamins, minerals or supplements in an average six months, up from 7.95 million four years ago. However, taking into account Australia’s population growth since 2016, the proportion of Australians buying these products has declined since 2016. Women comprise the bulk of Australia’s vitamins, minerals or supplements market; 4.88 million women (46%) buy these products, compared to only 3.36 million men (33%). These trends hold up for women and men of all ages but are most pronounced for Australians aged 25 and over. Meanwhile, Chemist Warehouse stands out as the first choice for people buying vitamins, minerals or supplements. Now over 45% of people buying these goods go to Chemist Warehouse, up from 39% four years ago. These findings are from the Roy Morgan Single Source survey, derived from in-depth interviews with over 1,000 Australians each week and around 50,000 Australians per year.

CORPORATES
ROY MORGAN LIMITED, CHEMIST WAREHOUSE

ANZ-Roy Morgan Consumer Confidence drops 4.5 pts to 93.0 after COVID-19 cases surge in Melbourne

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Original article by Roy Morgan
Market Research Update – Page: Online : 1-Jul-20

ANZ-Roy Morgan Australian Consumer Confidence fell 4.5pts to 93.0 in the week to 27/28 June, and is now at its lowest since May 23/24 (92.7). Consumer Confidence is 25.9pts lower than a year ago (118.9) and 2.1pts below the 2020 weekly average of 95.1. Now 21% (down 2ppts) of Australians say their families are ‘better off’ financially than this time last year (the lowest figure for this indicator since May 9/10), while 35% (down 1ppt) say their families are ‘worse off’ financially. Meanwhile, 34% (down 1ppt) of Australians expect their family to be ‘better off’ financially this time next year (the lowest figure for this indicator since April 25/26), and 19% (up 1ppt) expect to be ‘worse off’ financially. Just 7% (down 3ppts) expect ‘good times’ for the Australian economy over the next 12 months, while 45% (up 5ppts) expect ‘bad times’. In addition, 36% (down 2ppts) of Australians say now is a ‘good time to buy’ major household items, while 34% (up 3ppts) say now is a ‘bad time to buy’. The four-week moving average for ‘inflation expectations’ was stable at 3.2%.

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

ACM brings back bulk of print titles

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Original article by Max Mason
The Australian Financial Review – Page: 30 : 29-Jun-20

Regional newspaper group Australian Community Media will shortly resume publishing at least 50 of the print mastheads that were suspended in April due to the coronavirus pandemic. The move affected about 80 non-daily titles, and sources have indicated that a decision has yet to be made as to when the remaining mastheads will resume publication. ACM CEO Allen Williams has urged regional communities to support their local newspapers to ensure that they are financially sustainable.

CORPORATES
AUSTRALIAN COMMUNITY MEDIA

Regional media to get $50 million lifeline

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Original article by Max Mason
The Australian Financial Review – Page: 6 : 29-Jun-20

News publishers account for 92 of the 107 regional media companies that will receive a combined $50m in emergency relief funding under the federal government’s Public Interest News Gathering program. Some $20m has been allocated to TV broadcasters, publishers will receive $18m in total and radio broadcasters have been allocated $12m. The coronavirus pandemic has resulted in a sharp fall in advertising revenue for the media sector.

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ANZ-Roy Morgan New Zealand Consumer Confidence up 7.2pts to 104.5 in June

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Original article by Roy Morgan
Market Research Update – Page: Online : 29-Jun-20

ANZ-Roy Morgan New Zealand Consumer Confidence rose 7.2 points to 104.5 in June, but is still well under its historical average. Consumers’ perceptions of their current financial situation lifted 4 points to +4; the wage subsidy scheme and lower interest rates have countered job losses, but this remains a subdued level. A net 32% of consumers expect to be better off financially this time next year, up 9 points. Meanwhile, a net 5% of consumers think it is a good time to buy a major household item, back in the black after a big bounce but unfortunately still recessionary. Perceptions regarding the next year’s economic outlook lifted another 9 points but remains very low at -37%. The five-year outlook broke with the pack, falling 5 points to 19%.

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

Twenty years on, burning platform is here for GST reform: Ken Henry

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Original article by John Kehoe
The Australian Financial Review – Page: 1 & 36 : 29-Jun-20

Former Treasury secretary Ken Henry has called for an overhaul of Australia’s tax system in response to the coronavirus-induced recession. Henry was a top tax adviser to the Howard government when it introduced the goods and services tax. Former federal treasurer Peter Costello says Australia’s tax system has become increasingly complex since the GST was introduced two decades ago, arguing that it needs to be simplified. He concedes that the GST base should have been broader with fewer exemptions; however, he is cautious about expanding it now, arguing that ‘populist politics’ in the Senate could result in even more exemptions than at present.

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AUSTRALIA. DEPT OF THE TREASURY

JobKeeper too costly to keep

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Original article by Sarah Turner
The Australian Financial Review – Page: 1 & 24 : 29-Jun-20

A quarterly survey of economists shows that there is general consensus that while the JobKeeper wage subsidy scheme has been effective, it needs to have an end date. JobKeeper is slated to end in late September, and Warren Hogan from the University of Technology, Sydney says the increase in the JobSeeker payment could be extended by six months to accommodate JobKeeper recipients who have not returned to work when the scheme ends. The survey has also found that economists expect the Australian economy to contract by four per cent in 2020, while the unemployment rate will peak at eight per cent by the end of the year.

CORPORATES
UNIVERSITY OF TECHNOLOGY, SYDNEY

Reform to offset slump in mine jobs

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Original article by Joe Kelly
The Australian – Page: 6 : 29-Jun-20

The Australian Mines & Metals Association has warned that the coronavirus pandemic could result in the loss of between 24,000 and 48,000 jobs in the resources and energy sector in the absence of any new projects. AMMA CEO Steve Knott argues that this would be offset by $250bn worth of proposed projects in the sector that would create 100,000 jobs by 2026. However, he says the federal government’s industrial relations working group on greenfields agreements must secure backing for a proposal to allow new workplace deals to cover the entire construction phase of new projects. Members of the working group met for the first time on 26 June.

CORPORATES
AUSTRALIAN MINES AND METALS ASSOCIATION (INCORPORATED)

Elizabeth Gaines – the driving force behind Fortescue Metals Group

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Original article by Rachel Pupazzoni
abc.net.au – Page: Online : 29-Jun-20

Pure-play iron ore miner Fortescue Metals Group is seeking to diversify its operations under current CEO Elizabeth Gaines, who took the helm in 2018. This could include exploring for minerals such as copper and gold in South America and hydrogen in Western Australia. Gaines grew up in Halls Creek in the Kimberley region of WA, which has a large indigenous population. Her father was a local school headmaster, who actively sought to ensure that indigenous people were integrated into the broader community. Fortescue founder Andrew Forrest adopted a similar policy of full integration at the world’s fourth-biggest iron ore miner, where indigenous people account for 15 per cent of its Pilbara workforce.

CORPORATES
FORTESCUE METALS GROUP LIMITED – ASX FMG

News Corp spurns Google news deal

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Original article by Natasha Gillezeau, Max Mason
The Australian Financial Review – Page: 2 : 27-Jun-20

Google has struck deals with a number of Australian news publishers to pay for content, while it is talks with a number of others, including Australian Community Media. Google Australia MD Mel Silva says it will have to "wait and see" whether its new product offering will be impacted by the code of conduct that the Australian Competition & Consumer Commission is putting together to govern how technology companies deal with news publishers. News Corp Australasia executive chairman Michael Miller has accused Google of not being genuine, and of trying to take advantage of certain publishers when they are at their most vulnerable.

CORPORATES
GOOGLE AUSTRALIA PTY LTD, AUSTRALIAN COMMUNITY MEDIA, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS