Over half a million Australians plan to buy a new electric vehicle in the next four years

June 21, 2023roymorgansocial Leave a comment

Original article by Roy Morgan
Market Research Update – Page: Online : 21-Jun-23

New data from Roy Morgan shows that 548,000 Australians plan on buying an electric vehicle in the next four years. This is equal to 12.5% of all those intending to purchase a new vehicle in this period, and an increase of over 1,230% compared with four years ago. The latest figures show that 61% of those planning to buy an electric vehicle are men, while 39% are women; however, this is a vast change from 2020 when the split was 76% men cf. 24% women. Meanwhile, intention to buy an electric vehicle has more than doubled across all age groups, and more than tripled for all age groups aged 35+. Now 51% of intending electric vehicle buyers are aged 50+ (up 4% points since 2020). The fastest growth in intention to purchase has been for Australians aged 65+, increasing more than threefold (340%) in only two years.

CORPORATES
ROY MORGAN LIMITED

Aussies tipped to spend $9.3 billion on mid-year/EOFY sales

June 6, 2023roymorgansocial Leave a comment

Original article by Roy Morgan
Market Research Update – Page: Online : 6-Jun-23

Research from the Australian Retailers Association in collaboration with Roy Morgan shows that shoppers are tipped to spend $9.3bn on mid-year and End of Financial Year sales in 2023. This is $500m higher than in 2022, although the number of Australians who are planning to shop during these sales is expected to fall to 5.8 million, which is 400,000 lower than previously. Those who plan to shop in the mid-year/EOFY sales will each spend an average of $1,616; this is up almost $200 per person from 2022. The 50-64 age demographic are set to be the biggest shoppers, encompassing 37.6% or $3.5 billion of the overall $9.3 billion spend. Meanwhile, 51 per cent of Australians will shop online during the mid-year/EOFY sales. The ARA-Roy Morgan Snap SMS survey was conducted from May 19-24 with an Australian-wide cross-section of 3,187 Australians aged 18+.

CORPORATES
ROY MORGAN LIMITED, AUSTRALIAN RETAILERS ASSOCIATION

Apple Pay set to overtake Afterpay in usage in 2023

April 13, 2023roymorgansocial Leave a comment

Original article by Roy Morgan
Market Research Update – Page: Online : 13-Apr-23

The latest Roy Morgan Digital Payments Report shows that Afterpay is now used by over 3.3 million Australians (15.6% of the population). It is just ahead of Apple Pay, which is now used by over 3.2 million Australians (15.2%). However, current trends show that Apple Pay is poised to overtake Afterpay in the next few months. Apple Pay has increased its usage in the local market significantly from a year ago, up from 11.1% of Australians in February 2022, an increase of 4.1% points in a year. In contrast, usage of Afterpay has increased from 14.1% of Australians a year ago to 15.6%, an increase of just 1.5% points in a year. These new digital payment findings are from Roy Morgan Single Source, Australia’s leading consumer survey, derived from in-depth interviews with around 60,000 Australians annually.

CORPORATES
ROY MORGAN LIMITED, AFTERPAY LIMITED, APPLE PAY

Rate pause to spur buyers back into market

April 5, 2023roymorgansocial Leave a comment

Original article by Nila Sweeney
The Australian Financial Review – Page: 31 : 5-Apr-23

SQM Research MD Louis Christopher says the firm believes that the cash rate has peaked following the Reserve Bank’s decision to leave it on hold at 3.6 per cent on Tuesday. He adds that the widely-anticipated rate pause could prompt buyers to return to the housing market, including renters and investors. Christopher adds that house prices could rise by 3-7 per cent nationwide in 2023 if the cash rate remains on hold. Tim Lawless of CoreLogic agrees that the rate pause could encourage vendors and buyers to return to the market.

CORPORATES
SQM RESEARCH PTY LTD, CORELOGIC AUSTRALIA PTY LTD, RESERVE BANK OF AUSTRALIA

New research shows good news in store for retail this Christmas

November 29, 2022roymorgansocial Leave a comment

Original article by Roy Morgan
Market Research Update – Page: Online : 29-Nov-22

The Christmas Gift Buying Survey by the Australian Retailers Association in collaboration with Roy Morgan shows that 59% of Australians intend to spend the same or more (12%) on Christmas gifts compared with 2021, despite growing inflationary pressures. The survey also found that the average gift purchase is $700, down slightly ($26) on last year. Australians aged 35-49 years will spend the most, committing an average of $933 to their gifts; spending for this age group is up $111 over last year. Meanwhile, the majority of Australians will continue to shop for Christmas gifts in-store, with around one-third done online (down 14% point on 2021). Only 1% of Australians say they will do 100% of their shopping online. This ARA-Roy Morgan Snap SMS survey was conducted with an Australian-wide cross-section of 2,317 Australians aged 18+ on Thursday October 20 – Monday October 24, including 1,717 who plan on buying gifts for Christmas.

CORPORATES
AUSTRALIAN RETAILERS ASSOCIATION, ROY MORGAN LIMITED

Melbourne Institute & Roy Morgan – Taking The Pulse of the Nation: Tax rebates boosted consumption for Australians

November 29, 2022roymorgansocial Leave a comment

Original article by Roy Morgan
Market Research Update – Page: Online : 29-Nov-22

In 2022, tax refunds for Australians with taxable income below $126,000 were expected to be between $675 and $1,500 – a $420 increase from previous years. The Taking the Pulse of the Nation Survey recently asked Australians how they would spend their expected tax refunds. The survey results indicated that about $515 (48%) of the refund was spent on consumption, $318 (27%) on savings and investment, and $246 (22%) on paying existing debts. The response to tax refunds varied with income: those with annual taxable income below $32,000 consumed 50 percent more of their refunds than those with annual taxable income above $100,000. Of interest is whether tax filers’ anticipated consumption coincided with their actual behaviour after the tax refund was received. There is remarkable consistency in what tax filers say they would do with the refund and what they did with it. Policy makers and business might be able to anticipate policy effects by gathering richer data from consumers. This report is based on a total of 2,000 respondents from data collected in May and October 2022. Visit the Melbourne Institute Taking the Pulse of the Nation web portal for further information and to access interactive charts and other findings: https://melbourneinstitute.unimelb.edu.au/data/ttpn.

CORPORATES
ROY MORGAN LIMITED, UNIVERSITY OF MELBOURNE. INSTITUTE OF APPLIED ECONOMIC AND SOCIAL RESEARCH

Good news in store for retail this Christmas – new research

November 23, 2022roymorgansocial Leave a comment

Original article by
Australian Retailers Association – Page: Online : 23-Nov-22

The Christmas Gift Buying Survey has been undertaken by the Australian Retailers Association in collaboration with Roy Morgan. The survey shows that 59% of Australians intend to spend the same or more (12%) on Christmas gifts compared with 2021, despite growing inflationary pressures. It also found that the average gift purchase is $700, down slightly ($26) on last year. Alcohol and food top the list of intended gift purchases for this year, followed by gifts cards and toys. The ARA and Roy Morgan forecast that Australians will spend nearly $64 billion in the lead up to Christmas, up 3% on last year. They also forecast that sales over the four-day Black Friday/Cyber Monday weekend (25 – 28 Nov) will reach a record $6.2 billion.

CORPORATES
AUSTRALIAN RETAILERS ASSOCIATION, ROY MORGAN LIMITED

Consumer spending for the Spring Racing Carnival to reach $1.6 billion

October 28, 2022roymorgansocial Leave a comment

Original article by Roy Morgan
Market Research Update – Page: Online : 28-Oct-22

New research from the Australian Retailers Association in collaboration with Roy Morgan shows that over 1.5 million people plan to attend a Spring Racing Carnival event trackside this year. More than 1.9 million Australians plan to attend events not on the track, such as in restaurants or other hospitality venues. People celebrating the Spring Racing Carnival will spend an average amount of $1,076 on themselves, totalling $1.6 billion in spending. Meanwhile, 52% of people say they are spending the same or more than they did last year on their Spring Racing Carnival celebrations. A new dress or suit is the most common consumer purchase (mentioned by 68% of people planning to attend a Spring Racing Carnival event), followed by a hat/fascinator (35%), a pair of shoes (31%) and jewellery (26%). The ARA-Roy Morgan Snap SMS survey was conducted with an Australia-wide cross-section of 1,694 Australians aged 18+ on Friday September 30 to Tuesday October 4.

CORPORATES
ROY MORGAN LIMITED, AUSTRALIAN RETAILERS ASSOCIATION

Solar Energy Systems on households have more than doubled since 2018 – now at nearly a third of all households (32.3%)

October 19, 2022roymorgansocial Leave a comment

Original article by Roy Morgan
Market Research Update – Page: Online : 19-Oct-22

The latest Roy Morgan research shows that over 3.2 million Australian households (32.3% of all households) owned a Solar Energy System in the year to June 2022, up from only 1.32 million (14%) in the year to June 2018. There were big increases in ownership of Solar Energy Systems in 2019 and 2020, although growth has levelled off over the last two years as the penetration of Solar Energy Systems approached one-third of all households. On a State-by-State basis there are more households in NSW (885,000) with Solar Energy Systems than anywhere else followed by Queensland (756,000), Victoria (728,000), WA (439,000) and SA (332,000). SA and WA have the highest rates of Solar Energy System penetration – over 40% of households. The ownership rates are significantly lower in South-Eastern Australia with under a third of households in Tasmania (30.2%), Victoria (27.7%) and New South Wales (26.6%) owning Solar Energy Systems. A primary reason which explains the lower rates of households with Solar Energy Systems in NSW and Victoria is the higher density living and far higher number (and proportion) of apartments, flats, units, semi-detached terraces and townhouses.