MARKETING RESEARCH – AUSTRALIA

Bendigo Bank home loan customers are the most satisfied with their bank after a year of interest rate rises

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

New financial data from Roy Morgan’s Single Source shows that Bendigo Bank has topped the latest banking customer satisfaction ratings among home loan customers. Bendigo Bank’s customer satisfaction rating has increased from 86.2% in May 2022 to 91.0% in May 2023. Close behind in second place is ING with customer satisfaction among home loan customers at 88.3%, up 0.2% points from a year ago. The latest data covers the six months to May 2023, and overall home loan customer satisfaction amongst Australia’s top 12 banks collectively was at 75.5% during this period. This represents a decrease of 1.6% points from the six months to May 2022, just as the current record-setting interest rate increasing cycle got under way. Meanwhile, NAB now has the highest home loan customer satisfaction among the big four banks, with a rating of 75.6%. Average home loan customer satisfaction with the big four banks as a group was 73.7%. These latest banking satisfaction ratings come from the Roy Morgan Single Source survey, derived from in-depth interviews with over 60,000 Australians each year.

CORPORATES
ROY MORGAN LIMITED, BENDIGO BANK, ING BANK (AUSTRALIA) LIMITED, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB

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

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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

Supermarkets dominate the fresh bread market but Bakers Delight captures an out-sized share of the dollars spent

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Original article by Roy Morgan
Market Research Update – Page: Online : 17-May-23

Research by Roy Morgan shows that Woolworths and Coles accounted for 60.4% of the total dollars spent in Australia’s $2.5 billion fresh bread market in the year to December 2022. The combined market share of the two supermarket giants is down from 51.9% in 2018, when the fresh break market was worth $2.9bn. Woolworths has retained its title as Australia’s largest retailer of fresh bread, with a market share of 30.6%, just ahead of Coles on 29.8%. Some 39.1% of fresh bread buyers now shop at Woolworths in an average week, while 37.6% shop at Coles; this is well ahead of Aldi (10.1%), Baker’s Delight (8%) and IGA (6.3%). These results are from the Roy Morgan Single Source survey of over 60,000 people per annum, including over 35,000 grocery buyers.

CORPORATES
ROY MORGAN LIMITED, WOOLWORTHS GROUP LIMITED – ASX WOW, COLES GROUP LIMITED – ASX COL, ALDI STORES SUPERMARKETS PTY LTD, BAKER’S DELIGHT HOLDINGS LIMITED, IGA

Melbourne Institute & Roy Morgan – Taking The Pulse of the Nation: Women continue to do more unpaid domestic work than men, better provision of external support services and greater flexibility to work from home needed to reduce burden

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Original article by Roy Morgan
Market Research Update – Page: Online : 3-May-23

In Australia, women consistently undertake more unpaid domestic work – which includes grocery shopping, food preparation, laundry, gardening, home and vehicle maintenance, caring for children and paying bills – than men. The March 2023 Taking the Pulse of the Nation survey reveals that women with children bear the brunt of these demands and that cost or availability of external support services as well as a lack of support from friends and families are key contributing factors. Greater flexibility to work from home could help reduce that burden. The survey shows that women do 23.1 hours of unpaid domestic work per week compared to men’s 15.3 hours. This difference is not solely attributable to gender variance in time spent at work; even when women are in full-time employment, they spend almost four hours more doing household chores than men (17.4 hours vs 13.8 hours). The gender gap exists across all age groups, but is most pronounced between ages 35 and 64, corresponding to child-rearing and pre-retirement stages in people’s lifecycle. This report is based on a total of 1,005 adult respondents from data collected in March 2023. To view all Melbourne Institute – Roy Morgan Taking The Pulse of the Nation Reports visit the TTPN website portal: https://melbourneinstitute.unimelb.edu.au/data/ttpn.

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

Women are (slowly) closing the superannuation gap

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Original article by Roy Morgan
Market Research Update – Page: Online : 19-Apr-23

New research from Roy Morgan shows that over the last decade, women have been closing the ‘gender superannuation gap’ on men both for ownership levels and average balances. In 2012 only 66.2% of females had super, compared with 74.8% of males – a gap of 8.6% points. The gap has since been reduced to 3.9% points, with 70.9% of females now having super compared with 74.8% of males. Meanwhile, the average super balance for females has grown faster than males since 2012. Over the last decade the average super balance of females grew by 38% (to $154k), compared to males with an increase of 26% (to $216k). These are the latest results from Roy Morgan’s Single Source survey, which is based on in-depth personal interviews conducted with over 500,000 Australians over the last decade, including over 300,000 with superannuation.

CORPORATES
ROY MORGAN LIMITED

Apple Pay set to overtake Afterpay in usage in 2023

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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

Telecommunications industry overtakes Social Media as the most distrusted industry

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Original article by Roy Morgan
Market Research Update – Page: Online : 5-Apr-23

For the first time since Roy Morgan began measuring trust and distrust in 2018, the telecommunications industry has emerged as the most distrusted industry in the entire economy, usurping the unenviable position from the social media industry. The recent woes of the telco industry have been driven primarily by the toxic levels of distrust that Optus experienced in the wake of its highly publicised data breach in September 2022. In the 12 months to February, Optus was the second most distrusted brand in the economy, with Telstra the third most distrusted. Facebook remains the most distrusted brand in the country despite slightly lower levels of distrust in recent months; however, Optus is closing in on the social media giant. The travel and tourism industry has also taken a fall in the industry Net Trust rankings, falling from 10th position to 13th, and now recording more distrust than trust. The industry has been brought down by heightened distrust of Qantas, which has faced negative press coverage over the past year. Qantas has fallen into Net Distrust territory for the first time this month, recording more distrust than trust. Insurance was the other industry to fall in the rankings, contributed to by continued high levels of distrust in Medibank, which is now the 7th most distrusted brand in the economy. The insurance industry is now more distrusted than the gambling industry.

CORPORATES
ROY MORGAN LIMITED, SINGTEL OPTUS PTY LTD, TELSTRA CORPORATION LIMITED – ASX TLS, FACEBOOK, QANTAS AIRWAYS LIMITED – ASX QAN, MEDIBANK HEALTH SOLUTIONS PTY LTD

Super fund satisfaction drops to 66.6% in February 2023 – down 5.4% points from record high in January 2022

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Original article by Roy Morgan
Market Research Update – Page: Online : 22-Mar-23

New data from Roy Morgan’s Superannuation Satisfaction Report shows an overall super fund satisfaction rating of 66.6% in February 2023. This is 5.4% lower than the record high reached just over a year ago in January 2022 (72.0%). Despite the decrease over the last year superannuation satisfaction is still higher than the long-term average of 57.9% from 2007-2023, and also higher than at any time prior to the pandemic years of 2021-22 when the measure was at record highs. However, superannuation satisfaction is now at its lowest since December 2020 (64.8%). Customer satisfaction for Industry Funds has declined by 6.3% points since January 2022 to 67.9% – the largest decline for any of the super fund categories; the customer satisfaction of Retail Funds has declined by 5.6% points to 61.3%. Unisuper and HESTA now have the highest customer satisfaction ratings among Industry Funds, ahead of AustralianSuper and HOSTPLUS. The highest-placed Retail Super Fund is Macquarie, followed by MLC, OnePath and Colonial First State. The report’s findings are from Roy Morgan Single Source, Australia’s most trusted consumer survey, compiled by in-depth interviews with over 60,000 Australians each year.

CORPORATES
ROY MORGAN LIMITED

Mortgage stress increases to its highest since April 2012 with 24.9% of mortgage holders now At Risk

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Original article by Roy Morgan
Market Research Update – Page: Online : 1-Mar-23

New research from Roy Morgan shows that an estimated 1.19 million mortgage holders (24.9%) were ‘At Risk’ of ‘mortgage stress’ in the three months to January 2023. This period encompassed two interest rate increases of 0.25%. The proportion of mortgage holders now considered ‘At Risk’ of mortgage stress is the highest since June 2012 and is now significantly above the long-term average of 22.8% stretching back to early 2007. The number of Australians ‘At Risk’ of mortgage stress has increased by 486,000 over the last year. However, despite the sharp increase in the level of mortgage stress the overall number remains well below the high reached during the Global Financial Crisis in early 2009 of 35.6% (1,455,000 mortgage holders). Meanwhile, the number of mortgage holders considered ‘Extremely At Risk’, has increased to 710,000 (15.4%), which is slightly above the long-term average over the last 15 years of 659,000 (15.9%). These are the latest findings from Roy Morgan’s Single Source Survey, based on in-depth interviews conducted with over 60,000 Australians each year, including over 10,000 owner-occupied mortgage-holders.

CORPORATES
ROY MORGAN LIMITED

Four in five shoppers believe buying Australian-made is important

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Original article by Roy Morgan
Market Research Update – Page: Online : 28-Feb-23

New research by Roy Morgan shows that 86 per cent of Australians say that buying Australian-made products is important to them. Only 2% said that buying Australian-made is not important to them. Meanwhile, 67% stated in the survey that they ‘often’ or ‘always’ buy Australian-made products, citing supporting local jobs and the economy as their reason for doing so, followed by the quality or reliability of Australian-made products. Some 35% of respondents also claimed to purchase more Australian-made products now than before the pandemic. The survey also found that 99% of Australians aged 18+ are aware of the Australian Made logo, with the logo having the highest recognition of any certification mark in Australia. Trust in the Australian Made logo is also high; 93% of Australians are confident that products displaying the mark are made or grown in Australia.

CORPORATES
ROY MORGAN LIMITED