Abstract
Overview
Introduction
The affluent consumer market living in Australia provides an attractive market
for financial institutions to target because of the wealth they hold.
Datamonitor' s 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.
Report Highlights
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.
Reasons to Purchase
- 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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