CONSUMER SATISFACTION – AUSTRALIA

Mobile banking apps and the internet are more satisfying for customers than branch visits or phone banking

roymorgansocial Leave a comment

Original article by Roy Morgan
Market Research Update – Page: Online : 1-Mar-22

The new Roy Morgan Satisfaction with Banking Channels Report shows the CBA recording the highest customer satisfaction levels for branch visits, internet banking and mobile banking – using an app on a mobile phone or tablet – among the big four banks. The report also showed mobile banking and internet banking as the service channels with the highest customer satisfaction. As of December 2021, CBA was the strongest performer of the big four with the highest customer satisfaction across three of the service channels including mobile banking (90.8%), internet banking (87.8%) and branch banking (83.5%). The CBA had customer satisfaction of 76.3% for phone banking. There was little to split its competitors, with ANZ coming in second overall with 89.2% (mobile), 86.6% (internet), 83.2% (branch) and 76.6% (phone). Westpac followed with 87.9% (mobile), 86.1% (internet), 82.1% (branch) and the highest of the big four for phone banking (79.4%). NAB rounded out the big four with 89.8% (mobile), 86.5% (internet), 81.5% (branch) and 77.3% (phone). This new data comes from Roy Morgan Single Source, Australia’s most comprehensive consumer survey, derived from in-depth interviews with over 60,000 Australians each year.

CORPORATES
ROY MORGAN LIMITED, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, WESTPAC BANKING CORPORATION – ASX WBC, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB

NAB & CBA lead business banking satisfaction but biggest increase over the last year is by ANZ

roymorgansocial Leave a comment

Original article by Roy Morgan
Market Research Update – Page: Online : 10-Nov-21

New research from Roy Morgan shows that small business owner banking satisfaction for the four major banks was at 69.9% in the 12 months to September 2021, down 0.4% points from a year ago. Although virtually unchanged on a year ago, small business owner banking satisfaction for the four major banks is up 1.2% points from February 2020 (68.7%), prior to the onset of the COVID-19 pandemic. Satisfaction with National Australia Bank increased by 3.3% points from a year ago to 71.6%, and NAB now has the highest business owner banking satisfaction of the four major banks. Just behind NAB is the Commonwealth Bank, with a business owner banking satisfaction rating of 70.4%. However, the largest increase in satisfaction was achieved by the ANZ, up 5.1% points to 70.0%. Westpac is in fourth position with small business owner banking satisfaction of 66.9%. These are the latest findings from interviews with 2,443 small businesses owners in the 12 months to September 2021, as part of the Roy Morgan Business Owner Satisfaction Monitor regarding their level of satisfaction with the financial institution they deal with.

CORPORATES
ROA INTERNATIONAL, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, WESTPAC BANKING CORPORATION – ASX WBC

ING home loan customers are the most satisfied with their bank, followed by Suncorp, Bendigo Bank and BankSA

roymorgansocial Leave a comment

Original article by Roy Morgan
Market Research Update – Page: Online : 29-Sep-21

New financial data from Roy Morgan shows that ING has maintained its lead at the top of banking customer satisfaction ratings among home loan customers in mid-2021. ING’s satisfaction rating rose 2.6% points year-on-year to 91.3% in August 2021. ING was followed by Suncorp on 90.3% (up 3.9% points on a year ago), Bendigo Bank on 89.1% (up 0.1% points) and BankSA on 87.3% (up 11% points). The latest data covers the six months to August 2021; overall home loan customer satisfaction amongst Australia’s top 12 banks collectively was at 77.9% during this period. This represents a decrease of 0.5% points from a year ago when there was significant financial support being offered to hundreds of thousands of home loan customers in the form of deferred loans. CBA once again has the highest home loan customer satisfaction among the big four banks, with a rating of 78.7%. Average home loan customer satisfaction with the big four banks as a group is 75.9%. These latest banking satisfaction ratings come from the Roy Morgan Single Source survey, derived from in-depth interviews with over 50,000 Australians each year.

CORPORATES
ROY MORGAN LIMITED, ING BANK (AUSTRALIA) LIMITED, SUNCORP BANK, BENDIGO BANK, BANK OF SOUTH AUSTRALIA LIMITED

Super fund satisfaction near record highs in June with HESTA the top fund ahead of Cbus and Unisuper

roymorgansocial Leave a comment

Original article by Roy Morgan
Market Research Update – Page: Online : 28-Jul-21

New data from Roy Morgan’s Superannuation Satisfaction Report shows an overall super fund satisfaction rating of 71.7% in June 2021 – an increase of 8.6% points from June 2020, and up 6.9% points over the last six months. The rating for June is just below the record high reached a month ago and continues a series of excellent customer satisfaction ratings over the first half of 2021 as the Australian economy recovered and Australian stock markets reached new record highs. HESTA has the highest customer satisfaction rating among Industry Funds, ahead of Cbus, UniSuper, AustralianSuper and Catholic Super. The highest placed Retail Super Fund is OnePath, followed by Colonial First State, MLC and ASGARD. The strong performance of the stock market during the first half of 2021 has helped drive customer satisfaction in Industry Funds to a new record high in June 2021 of 72.3%, up 8.2% points on a year ago. Customer satisfaction is also near record highs for Public Sector Funds at 79.7% in June (up 7.6% points on a year ago), and satisfaction Retail Funds is at 67.8% (up 9.7% points on a year ago). However, the highest customer satisfaction is again for Self-Managed Funds at 80.6%, which have experienced the largest increase of 10.7% points from a year ago. The report’s findings are from Roy Morgan Single Source, Australia’s most trusted consumer survey, compiled by in-depth interviews with over 50,000 Australians each year.

CORPORATES
ROY MORGAN LIMITED

Roy Morgan Customer Satisfaction Awards 2020: Australia’s winning retailers announced

roymorgansocial Leave a comment

Original article by Roy Morgan
Market Research Update – Page: Online : 17-Jun-21

The annual Roy Morgan Customer Satisfaction Awards were awarded in locked down Melbourne in early June. As usual, the awards in the retail category went to a mix of first timers and veterans. Among those enjoying their moment in the customer satisfaction spotlight for the first time were Schnitz as the Quick Service Restaurant of the Year with six monthly customer satisfaction awards and Chemist Warehouse as Chemist/Pharmacy of the Year. There were seven repeat winners led by Myer as Department Store of the Year for a sixth straight year, Bunnings Warehouse as Hardware Store of the Year for a fourth year in a row, Rebel as Sports Store of the Year for the sixth consecutive year and perhaps most impressively of all The Reject Shop confirming its dominance in the field as the Discount Variety Store of the Year for the ninth year running (2012-2020). First Choice Liquor (Liquor Store of the Year), The Athlete’s Foot (Shoe Store of the Year) and Subway (Major Quick Service Restaurant of the Year) all built on their victories in 2019 to complete back-to-back victories in their respective categories for the first time.

CORPORATES
ROY MORGAN LIMITED

Roy Morgan unveils Annual Customer Satisfaction Award winners for 2020 across all categories

roymorgansocial Leave a comment

Original article by Roy Morgan
Market Research Update – Page: Online : 10-Jun-21

Roy Morgan’s Annual Customer Satisfaction Awards have been impacted by the COVID-19 pandemic, but after rigorous examination of the data recorded from Australians during 2020 we are able to announce the deserving winners who have excelled with high customer satisfaction ratings despite the challenges of the pandemic. Nineteen of the 40 award winners are repeat winners backing up from a victory a year ago, while there are 21 new winners. Respondents name the companies they deal with in various categories across more than 30 industries, and rate how satisfied they are with them. Monthly Customer Satisfaction winners are cited in each category throughout the year, with the annual award going to the company with the most wins. Several companies scored a clean sweep of 12 monthly victories during 2020, including first-time winners Aussie Broadband and Health Partners, as well as back-to-back 2019 & 2020 winners Myer, The Reject Shop, Powershop, Bunnings Warehouse, Rebel, RAC and Defence Health. Costco also returned to the winners’ circle with an unblemished record in 2020 after last winning the annual award in 2017. The data that determines who wins comes from Roy Morgan’s Single Source survey, compiled from in-depth interviews with over 50,000 consumers from all around Australia.

CORPORATES
ROY MORGAN LIMITED

Isuzu UTE wins Best of the Best Award

roymorgansocial Leave a comment

Original article by Roy Morgan
Market Research Update – Page: Online : 10-Jun-21

Vehicle manufacturer Isuzu UTE has been named the winner of the Roy Morgan Customer Satisfaction Award – ‘Best of the Best’ – taking the mantle from fellow car manufacturer Lexus. The ‘Best of the Best’ award goes to the company that achieved the highest customer satisfaction of all 40 winners in the Annual Roy Morgan Customer Satisfaction Awards. Isuzu UTE also won the prestigious ‘Best of the Best’ Award in 2018 and their victory this year was built on the back of seven monthly victories in the Car Manufacturer of the Year category, including six wins in a row from March to August 2020. Isuzu UTE came out just on top of 2019 winner Lexus (five monthly victories) Other car manufacturers to perform exceptionally well in 2020 included Toyota, Mercedes-Benz and Suzuki. Isuzu UTE averaged customer satisfaction of an exceptional 94.92% in 2020 to beat Liquor Store of the Year First Choice Liquor by the barest of margins in second place on an average of 94.88%.

CORPORATES
ROY MORGAN LIMITED, ISUZU UTE AUSTRALIA PTY LTD

Super fund satisfaction soars to a new record high as Australia recovers from the COVID-19 pandemic

roymorgansocial Leave a comment

Original article by Roy Morgan
Market Research Update – Page: Online : 26-May-21

New data from Roy Morgan’s Superannuation Satisfaction Report shows an overall super fund satisfaction rating of 71.7% in April 2021 – an increase of 7.0% points from a year ago and up 10.7% points since October 2020. Self-Managed Funds still have the highest customer satisfaction of 81.1%, up 5.8% points from a year ago. Public Sector Funds are in a clear second place with customer satisfaction of 78.9%, up 4.8% points on a year ago. The two largest increases in satisfaction over the last year are for Industry Funds, up 6.8% points to a record high of 71.8% and Retail Funds, up by an impressive 7.2% to a near record high 67.8%. UniSuper has the highest customer satisfaction rating of the Industry Funds, ahead of Cbus, AustralianSuper and Catholic Super. The highest placed Retail Super Fund is OnePath, followed by MLC, Colonial First State and ASGARD. The report’s findings are from Roy Morgan Single Source, Australia’s most trusted consumer survey, compiled by in-depth interviews with over 50,000 Australians each year.

CORPORATES
ROY MORGAN LIMITED

Overall satisfaction with Big 4 banks is higher than a year ago with CBA & NAB the top two

roymorgansocial Leave a comment

Original article by Roy Morgan
Market Research Update – Page: Online : 26-May-21

New data from Roy Morgan shows that 80.5% of customers are satisfied with their bank(s) in April 2021, an increase of 1.3% points on a year ago when the COVID-19 pandemic began. The increase was built upon increases in satisfaction for building societies (up 3% points on a year ago), foreign banks (up 2.3% points) and Australia’s ‘Big 4’ banks (up 0.3% points). Satisfaction for the four major banks as a group is 77.1%, up 0.3% points on April 2020, and up 0.2% points on January 2021. The big improver over the last year has been the NAB which has increased its customer satisfaction by 1.9% points to 78.6%, to be just behind the Commonwealth Bank on 78.8% (down 0.2% points). Third is ANZ on 75.0% (up 0.6% points on April 2020), followed by Westpac on 73.5% (down 0.4% points). Among banks as a whole, Beyond Bank scored the highest in April, on 92.7% (up 1.8% points in 12 months). ING was the highest rated foreign bank on 90.6% (up 1.7% points), Newcastle Permanent led the way for building societies on 94.8% (up 3.1% points), while Credit Union Australia was the highest ranked credit union, on 86.9% (up 3.9% points). The findings, taken from Roy Morgan’s Customer Satisfaction report on Consumer Banking in Australia, reflect the successful way the banking sector responded to financial challenges faced by millions of Australians as a result of the 2020 COVID-19 pandemic.

CORPORATES
ROY MORGAN LIMITED, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, WESTPAC BANKING CORPORATION – ASX WBC, BEYOND BANK AUSTRALIA, ING BANK (AUSTRALIA) LIMITED, NEWCASTLE PERMANENT BUILDING SOCIETY LIMITED, CREDIT UNION AUSTRALIA LIMITED

Small super funds return a higher level of satisfaction for investors

roymorgansocial Leave a comment

Original article by Aleks Vickovich
The Australian Financial Review – Page: 17 : 17-May-21

Research by CoreData shows that superannuation funds with assets of less than $20bn outperform their larger peers in terms of customer satisfaction. Smaller funds received an overall score of 63 among members who have retired and a score of 53.2 with regard to preparedness for retirement. In contrast, large super funds received a rating of 57.7 among retirees and just 46.9 among pre-retirees. The survey of more than 4,000 respondents has coincided with a regulatory push for smaller super funds to merge.

CORPORATES
COREDATA PTY LTD