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The Affluent Consumer Market in Australia 2008
Datamonitor, July 2008, Pages: 69
The affluent consumer market living in Australia provides an attractive market for financial institutions to target because of the wealth they hold. The Australia Financial Services Survey captures opinion from 422 affluent individuals.
Scope
- Details affluent consumer demographics including age, working status, state and city of residence within Australia.
- Analyses the opportunity for online financial product arrangement within the affluent market.
- Analyses how prepared affluent Australians are for retirement and the use of financial planners.
- Reviews affluent market trends across HISA, credit card and mortgage product areas.
Highlights of this title
While some financial institutions may think that the online financial services market in Australia is in its infancy, results show that providers should be investing more to further develop their online platform in order to meet the growing demands from affluent consumers.
It appears that the affluent population are thinking more and planning accordingly for their retirement as compared to the rest of the consumer market. There are more affluent individuals than mass market individuals that plan to retire before age 55 or who are already retired.
A large proportion of the affluent mortgage market is expected to change providers over the next five years. Companies need to ensure they are marketing their lending services to this group of clients and that they are offering what the majority of borrowers are looking for such as a competitive interest rate.
Key reasons to purchase this title
- Review competitor market shares of affluent and mass market consumers across HISAs, credit cards and mortgage products.
- Discover the age, location work status and more about the affluent market living in Australia.
- Identify which product areas will develop a strong online presence in the future.
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