CONSUMER BEHAVIOR – AUSTRALIA

Over nine million general insurance policies at risk of being switched – CGU and RACV top for loyalty

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Original article by Roy Morgan
Market Research Update – Page: Online : 20-May-19

A new report from Roy Morgan, ‘General Insurance Industry Market Overview Currency Report’, shows that during the last 12 months, 9.4 million general insurance policies (19.1%) were subject to review. This was made up of the policies that were switched to another company and those that were renewed with the same company after approaching other companies. The report shows that over the last year, 78.4% of general insurance policies were renewed with the same company without approaching any other companies. This was an increase from the previous year when it was 77.5% and currently represents 38.3 million policies. The most loyal customers, based on the proportion of policies that are renewed without the holder approaching another company, are with CGU (85.8%) and the RACV (83.5%). The least loyal customers among the majors are with YOUI (only 70.6% renewed without looking around), AAMI (73.3%) and GIO (73.7%). Roy Morgan’s ‘General Insurance Currency Report’ is derived from Roy Morgan’s Single Source Survey (Australia) which is based on in-depth personal interviews conducted face-to-face with over 50,000 Australians per annum in their homes, including details of over 120,000 general insurance policies.

CORPORATES
ROY MORGAN LIMITED, CGU INSURANCE AUSTRALIA LIMITED, RACV INSURANCE, YOUI PTY LTD, AUSTRALIAN ASSOCIATED MOTOR INSURERS LIMITED, GIO AUSTRALIA LIMITED

Facebook on top but Instagram and Pinterest growing fastest

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Original article by Roy Morgan
Market Research Update – Page: Online : 20-May-19

The latest research from Roy Morgan shows that over 17.1 million Australians aged 14+ (83%) visited Facebook in an average four weeks in the year to March 2019, an increase of almost 4.2 million (+32.4%) from four years ago. YouTube is in a clear second place and the popular online video sharing site has an estimated 15.3 million visitors in an average four weeks, up by over 3.5 million (+29.7%) from four years ago. Although both Facebook and YouTube are clear market leaders in the Social Networks and Online Communities market, it is the primarily image-sharing sites Instagram and Pinterest that have grown the fastest in recent years. Instagram, Facebook’s photo and video-sharing subsidiary now has over 8 million visitors in an average four weeks, up by over 5.6 million (+238.1%) from four years ago. And Pinterest, with over 7.3 million visitors, has grown by over 4.6 million (+174.3%) since 2015. These results are based on in-depth Roy Morgan Single Source interviews with more than 50,000 Australians.

CORPORATES
ROY MORGAN LIMITED, FACEBOOK INCORPORATED, YOUTUBE INCORPORATED, INSTAGRAM LLC, PINTEREST

Melbourne a dominant holiday destination for Australians

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Original article by Roy Morgan
Market Research Update – Page: Online : 15-May-19

The latest research from Roy Morgan shows that over 11.9 million Australians aged 14+ (58.3%) are planning on spending at least one night on their next trip in a domestic destination in Australia. Melbourne has consistently been the most popular domestic holiday location over the last decade, and over 1.5 million Australians currently intend to stay at least one night in Melbourne during their next trip. Sydney is a clear second place with nearly 900,000 Australians intending to stay in the NSW capital for at least one night on their next trip. Following in popularity is the NSW North Coast, with over 550,000 Australians intending to stay for at least one night on their next trip in this region. Analysis of Australia’s leading holiday destinations using Roy Morgan’s Helix Personas consumer segmentation and data integration tool shows that Melbourne and Sydney are the most popular holiday destinations regardless of which Helix Community is considered. However, beyond the two leaders the choices and preferences of the different Helix Communities diverge considerably.

CORPORATES
ROY MORGAN LIMITED

More Australians intend to retire despite inadequate savings levels

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Original article by Roy Morgan
Market Research Update – Page: Online : 29-Apr-19

The number of Australian intending to retire in the next 12 months is estimated at 439,000, a 6% increase on the 2018 level of 414,000 and 11% above the 2017 figure of 395,000. This increase is despite the savings levels of these intenders being well below the recommended level to be self- funded, so they are likely to be at least partly reliant on the age pension. Men currently represent 219,000 intending retirees and women 220,000. These are some of the latest findings from Roy Morgan’s Single Source survey, which is based on in-depth interviews conducted face-to-face with over 50,000 consumers per annum in their homes, including 430 who intend to retire in the next 12 months. The latest results are based on interviews conducted in the 12 months to January 2019.

CORPORATES
ROY MORGAN LIMITED

Over 8.3 million Australians buy vitamins, minerals and supplements

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Original article by Roy Morgan
Market Research Update – Page: Online : 29-Apr-19

A Roy Morgan Single Source survey shows that more than 8.3 million Australians purchased vitamins, minerals and/or supplements in an average six months in the year to December 2018, compared with just under 8 million in 2014. However, as a proportion of Australia’s growing population, demand has dropped slightly from 41.2% in 2014 to 40.7% in 2018. The research also shows that 65% of Australians who bought vitamins, minerals and/or supplements in 2018 purchased them from pharmacies and chemists, while 27% purchased them from supermarkets. Meanwhile, 49.1% of Australian women purchased vitamins, minerals and/or supplements in an average 6 months in 2018, compared to 32% of men.

CORPORATES
ROY MORGAN LIMITED

Uber drives forward while taxis stall and new market entrants begin to accelerate

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Original article by Roy Morgan
Market Research Update – Page: Online : 29-Apr-19

Research from Roy Morgan conducted in the year to December 2018 shows that nearly 4.3 million Australians aged 14+ (over 20% of the population) now travel by Uber in an average three months, up from just over 2 million (10.2%) in 2016. There has been strong growth in Uber usage across all age groups, ranging from growth of 73% (to 1,190,000) for 25-34 year olds to 253% (to 197,000) for 14-17 year olds. Meanwhile, the number of Australians who travel by taxi in an average three months fell by nearly 2% points over the last two years, to 21.5% in 2018. The latest Roy Morgan analysis reveals that 90,000 people across Australia already use a rideshare service other than Uber in an average three months without also using Uber in that same timeframe. New entrant Taxify (now called Bolt) is a leading competitor, with 112,000 Australians (0.5% of the population aged 14+) using their service at least once in an average three months in 2018.

CORPORATES
ROY MORGAN LIMITED, UBER AUSTRALIA PTY LTD, TAXIFY, BOLT

Australians embracing robo-advisers

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Original article by Luke Housego
The Australian Financial Review – Page: 20 : 23-Apr-19

A survey of more than 1,000 Australians has found that 30 per cent would be willing to receive financial advice from ‘robo-advisers’. The survey was commissioned by consulting firm Thinque, with company founder Anders Sorman-Nilsson suggesting that consumers have become less willing to trust human financial advisers as a result of the banking royal commission. Around 80 per cent of respondents stated that financial services is the sector in which they are most worried about digital fraud.

CORPORATES
THINQUE, IRESS WEALTH MANAGEMENT SOLUTIONS (RSA) PTY LTD, AUSTRALIA. ROYAL COMMISSION INTO MISCONDUCT IN THE BANKING, SUPERANNUATION AND FINANCIAL SERVICES INDUSTRY

Fewer Australians gambling

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Original article by Roy Morgan
Market Research Update – Page: Online : 15-Apr-19

A Roy Morgan Single Source survey shows that 47.9% of Australians aged 18+ (9.3 million people) gambled in an average three months during the year to December 2018, compared with 64.7% (10.5 million) in the year to December 2008. A decline has occurred across all major types of gambling over the last decade; the biggest drop in participation has been for lottery/scratch tickets, which are down 16.3% points to 40.1% but remain the most popular gambling category. Poker machines showed the next biggest loss, declining by 11.9% points to 13.7%, followed by betting (down 5.9% points to 9.4%). The survey is based on in-depth interviews conducted face-to-face with over 50,000 consumers per annum in their homes. This survey includes detailed questioning of over 7,000 gamblers per annum from which the comprehensive ‘Gambling Currency Report’ is produced, covering long term gambling trends from 2002.

CORPORATES
ROY MORGAN LIMITED

Apple TV+ targets market of over 17 million Aussies

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Original article by Roy Morgan
Market Research Update – Page: Online : 8-Apr-19

Research by Roy Morgan shows that the potential market for the Apple TV+ streaming video service is huge, given that over 17 million Australians aged 14+ (83.4%) currently access streaming video services or own Apple-branded devices. This includes 14.7 million Australians (71.8%) who already use streaming video services such as Netflix, Stan, ABC iView and others who would be interested in the Apple TV+ streaming service, as well as nearly 11.7 million Australians (57%) who own Apple devices. Analysing this potential market by Generation shows the biggest potential for Apple TV+ is with the 4.6 million Millennials who use streaming services or use an Apple device capable of streaming. This is closely followed by the over 4 million members of Gen Z and just under 4 million members of Gen X who use streaming services or use an Apple device capable of streaming.

CORPORATES
ROY MORGAN LIMITED, APPLE INCORPORATED, APPLE TV+, NETFLIX INCORPORATED, STAN ENTERTAINMENT PTY LTD

Holiday intention levels showing some weakening

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Original article by Roy Morgan
Market Research Update – Page: Online : 26-Mar-19

Research from Roy Morgan carried out in the three months to December 2018 shows that 13.94 million Australians aged 14+ (67.6%) intend to take a holiday in the next 12 months, a drop of 250,000 (or 1.8%) from the same time in 2017. The ‘Roy Morgan Leading Indicator Holiday Travel Intention, December 2018’ report also shows that 52.0% of Australians intend that their next holiday will be domestic (down from 54.3%), while 10.8% intend to take an overseas holiday (down from 11.1%). It is worth noting that 1.01 million holiday intenders have yet to decide their likely holiday destination for the next 12 months. This report is based on data collected from Roy Morgan’s Single Source survey, which involves in-depth interviews conducted face-to-face with over 50,000 Australians consumers per annum in their homes.

CORPORATES
ROY MORGAN LIMITED