Financial caution makes way for automotive investment in Australia
Blis, a trusted leader in location-powered advertising and analytics has today released the Blis consumer confidence pulse, an interactive tracker that captures a quick snapshot of consumer sentiment. The tracker plots how consumers are feeling about their local economy, household finances and spending intent and the survey is running in Australia, the UK, USA, UAE and Singapore.
Based on three highly topical questions around finances the Blis pulse is updated twice monthly to provide a rounded picture of how consumers are reacting to changes in their situation, both personally and on a national scale.
Head of Insights, Alex Wright speaking on the tracker said, “We started this tracker in the wake of the COVID-19 outbreak being declared a pandemic to give us a quick read on consumer sentiment. Armed with the knowledge of what consumers are telling us, we can then plot this against our retail foot traffic and consumer movement data to give a rounded view of progress through crisis, stability and recovery.”
Over the past six months, physical movement restrictions have ebbed and flowed in different cities across the country with daily activities requiring new safety measures. As a result, most consumers are behaving differently, with many working from home, avoiding crowded public spaces and communicating virtually. For brands, this tracker provides an opportunity to contextualise other data sources to really understand the concerns of their audience.
A downturn in net sentiment towards both the Australian economy and household finances started as the country, for the most part, was emerging from an initial lockdown. For those with spare funds, saving and debt repayment remained top priority for much of the lockdown, with automotive investment rising as lockdown eased.
“2020 has been nothing short of a rollercoaster year. The impact of COVID has been widely felt, with health and safety as well as financial wellbeing still of concern for many Australians. Since March, we’ve seen brands pivot their operations, strategy and messaging multiple times to meet their consumers’ concerns about safety. Looking ahead, it’s essential for brands to remain sensitive to consumer confidence and reflect their needs in the months ahead. The Blis consumer confidence pulse allows brands a quick snapshot of the direction of sentiment,” said Emma-Jayne Owens, Managing Director, Australia and New Zealand.