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Confidence has strengthened for the third week running, up 6pts to 84.2. The gain was broadly based, except ‘Current Finances’ which was down slightly. Now 20% (down 1ppt) of Australians say their families are ‘better off’ financially than this time last year and 41% (up 1ppt) say their families are ‘worse off’ financially. In good news more Australians, now 36% (up 4ppts), expect their family to be ‘better off’ financially this time next year compared to 24% (down 3ppts) that expect to be ‘worse off’ financially. However just 5% (unchanged) expect ‘good times’ for the Australian economy over the next 12 months while 54% (down 4ppts) expect ‘bad times’. And in the longer term, 16% (up 4ppts) of Australians are expecting ‘good times’ for the Australian economy over the next five years compared to 18% (down 2ppts) expecting ‘bad times’. In addition now 28% (up
8ppts) of Australians say now is a ‘good time to buy’ major household items, while 47% (down 7ppts) of Australians say now is a ‘bad time to buy’.
View our Australian Consumer Confidence Data Tables or subscribe to our monthly Consumer Confidence Report.
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The ABS last week, finally, released their March unemployment estimates - actually the first half of March. The ABS March employment estimates show employment increasing by 6,000 and unemployment virtually unchanged at 5.2%, up only 0.1% from February - both very misleading and should never have been released in their current form. On April 8, 2020 Roy Morgan released accurate real employment and unemployment estimates for the whole of March - pre and post COVID-19 lock-down. Roy Morgan's unemployment estimate pre the COVID-19 lock-down was 7.3%, essentially unchanged on February. However, Roy Morgan's late March unemployment estimates showed the Government's COVID-19 lockdown response resulted in an extra 1.4 million Australians becoming unemployed in a matter of two weeks, leading to unemployment of 2.4 million (16.8%) and under-employment increasing 374,000 to 1.52 million (10.6%) in
the second half of March. This means a record high 3.92 million (27.4%) of Australians were either unemployed or under-employed and looking for more work in the second half of March - depression numbers!
View full details on Roy Morgan's March employment and under-employment estimates.
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New Roy Morgan research shows Inner City Melbourne residents (40%) are the Australians most likely to use meal delivery services, just ahead of those in Central Sydney (39%), followed by Central Perth (31%). Other regions with high use of these services include Northern Melbourne (with suburbs such as Preston, Northcote and Coburg), Middle Southern & Eastern Melbourne (including Hawthorn, Malvern, Sandringham and Brighton) and South-West Perth (including Fremantle and Coogee). The data covers the 12 months to March 2020. Meal delivery services are used more than twice as much in Inner City Melbourne and Central Sydney, where options are plentiful, than in Australia as a whole. (The services in question are third-party delivery services, rather than the ‘in-house’ home delivery offered by individual restaurants). Overall, around one in five Australians (19%) now use meal
delivery services in an average three months, with the top four services, UberEATS, Menulog, HelloFresh and Deliveroo, all growing their market share over the past year.
View our range of Meal Delivery Services Customer Profiles.
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The internet has overtaken TV as the main place Australians turn for their news. 12.7 million Australians (60.6%, up 2.8ppts from 57.8% in mid-2018) now use the internet including social media - 37.6%, news or newspaper websites or apps - 29.2%, news feed sites such as Google News, Apple News and Flipboard - 16.3% (up 3.7ppts and the largest increase for any of the online sources of news), email subscriptions or updates - 8.9%, magazines (printed, website or app) - 5.2% and other websites or apps - 5.6%. Now just behind is TV, used by 12.4 million (59.5%) – down more than 6ppts from 65.6% including Free-to-air TV – 56.4% (down 5.9ppts) and Pay TV such as Foxtel’s Sky/BBC/CNN/Fox News etc. – 8.3%. The leading source of news online for younger generations is social media, mentioned by 59% of Generation Z and 50% of Millennials.
View the People who have accessed News Online - Profile.
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In mid-April there was a jolt to Australian Inflation Expectations with a steep fall in the weekly index on April 18/19, 2020 to a record low of only 3.1%, down from 3.8% the week before and significantly below the 2020 weekly average of 4%. The weekly fall was caused by fewer Australians expecting prices to increase over the next two years down to 69.4% (down 1.4% on a week ago) and more expecting prices to either decrease – up 1% to 10.8% or ‘Stay the same’ – up 0.4% to 19.8%.
Subscribe to our monthly Business Confidence Report.
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New data from Roy Morgan’s Superannuation Satisfaction Report shows Self-Managed Funds and Public Sector Funds have both increased their satisfaction in March despite significant market upheaval with the ASX200 falling significantly from its February record high. As a sector, Self-Managed Funds have the highest level of customer satisfaction (75.0%), up 0.3% from February followed by Public Sector Funds on 74.5% (+0.3%). In contrast, satisfaction with Industry Funds fell a significant 1.1% in a month to 64.4% while Retail Funds were down 0.2% to 60%.
View the Customer Satisfaction - Financial Performance of Superannuation in Australia Report.
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Featured products
This third edition of 'The Roy Morgan Wealth Report' provides financial institutions and other organisations with insights into Australians’ personal wealth, debt, and assets. The information is derived from the most extensive and longest-running study of consumer financial behaviour in Australia. Examining assets and debt, it details Net Wealth from 2007 to 2019, showing precisely what form it takes, and where and how it has shifted across a range of variables, including age, gender, state location, wealth deciles and employment type.
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Many organisations try to measure trust, with varying degrees of success. However, even the best of these measurements misses the most significant part of the story: Distrust. Only Roy Morgan measures this otherwise invisible corrosive force. Unless you understand Distrust and know specifically how it affects your industry and your brand, you are unprotected against a major risk with enormous bottom-line implications. The Roy Morgan Risk Report delivers this information, providing Australian-operated businesses, companies and other entities with crucial data and insight into trust and more importantly Distrust among their own consumers and the wider Australian public.
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