In Australia, optimism about the economy is below March 2022 levels but higher than at the onset of COVID-19. Households increased spending and decreased saving in response to inflation. Consumers are willing to pay more in certain categories, but for essentials, they switch brands or wait for product to go on sale. Net intent to spend was negative for most categories except essentials and daily commute. Nearly two-thirds of Australians engaged in normal out-of-home activities, three in five with modified behavior. Digital and omnichannel adoption continue as consumers explore new technology and at-home alternatives to out-of-home activities. Most tried another brand or retailer; more than 80 percent intend to continue the behavior.
These exhibits are based on survey data collected in Australia on August 26–September 2, 2022. Check back for regular updates on Australian consumer sentiments, behaviors, income, spending, and market expectations.