Australia Retail Banking Consumer Profiles Analysis Report 2023: Explores Consumer’s Financial Goals, Unmet Needs, and Banking Preferences – ResearchAndMarkets.com

DUBLIN–(BUSINESS WIRE)–The “Australia Retail Banking Analysis by Consumer Profiles” report has been added to ResearchAndMarkets.com’s offering.

This report looks at six different customer personas in Australia. It explores their financial goals, unmet needs, and banking preferences while providing actionable steps for financial providers to take to achieve high levels of retention and to cross-sell effectively and accordingly.

Based on the consumer profiles covered in this report a few general results can be gleaned. For example, most customers conduct their banking digitally either on a mobile app or via a provider’s website. However, despite the digitalization of retail banking, consumers generally still hold a reasonably strong preference for the use of branches when it comes to important tasks such as applying for a mortgage.

The advantage of this report lies in the findings that are unique to individual profiles. For example, customers that match the profile of Willow, an 18-34-year-old lower emerging affluent individual with education debts – are among the most likely to pay for premium features.

Scope

• Across almost all consumer profiles, online and mobile banking were the two most commonly used channels
• Many consumer profiles are unhappy with the loyalty rewards they receive
• Mass affluent customers are likely to be more willing to pay for preferential cashback than any other premium feature a bank could offer

Reasons to Buy

• Understand how consumer preferences vary between different types of consumer
• Access the latest consumer survey data on channel behavior, provider preferences, and product holdings
• Identify the areas for improvement that matter to particular consumers
• Benefit from the provision of actionable steps that can help your business target specific customer profiles.

Key Topics Covered:

• Cluster methodology
• Boomer – Susan: The loyal customer
• Generation X – Maude: The retirement planner
• Younger Generation X – Logan: The family man
• Younger Generation Z – Willow: The new worker
• Boomer – Peter: The digital banker
• Younger Millennial – Benjamin: The young entrepreneur
• Appendix

For more information about this report visit https://www.researchandmarkets.com/r/k9ozof

Source: GlobalData

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