The Australian Financial Services Consumer Trends Survey was completed in December 2007 and provides invaluable insights into the mindset of the Australian consumer of financial services. This slide pack summarizes some of the most interesting results of the survey.

Scope

2,000 Australian consumers aged 18+ participated in the Australian Financial Services Consumer Trends Survey Respondents were questioned about financial products held, switching behaviour and attitudes The survey covers transaction accounts, high interest savings accounts, credit cards, mortgages and product bundles This slidepack presents a selection of the most interesting results from each product area

Highlights

Around half of respondents mentioned being worried about security as a reason for not considering channels such as the Internet. Security, or rather customer perceptions of security, should thus be a priority for financial institutions exploring new channels. A large proportion of Australian credit cardholders are transactors and usually pay off their balance to avoid paying interest. On the other end of the spectrum, 18% find themselves paying interest virtually every month In a bid to get onto the property ladder, many Australians have used low deposit mortgages. 23% of mortgagors had less than a 5% deposit when taking out their mortgage. This group is more vulnerable to adverse market conditions.

Reasons to Purchase

Use this primary research to understand the Australian consumer Improve your profitability by tailoring your products to consumer needs Gain a comprehensive view of your market, and benchmark against your competitors.