Nine research shows new consumer focus on post-covid finance

New search for New and DNA of the crowd highlighted the impact of the global COVID-19 pandemic and the resulting economic uncertainty on the minds and perceptions of Australian consumers.

Launched at the Nine’s State of the Nation Finance event, the research argues that the pandemic has dramatically increased consumers’ attention to their finances, but has also provided brands and marketers with an opportunity to help consumers take control of their own destiny and feel secure while having the confidence to make decisions that will support their financial literacy and security.

Michael stephenson, Nine’s sales manager opened the event, held at Ashurst at Martin Place in Sydney.

Director of Strategy, Ideas and Efficiency at Nine, Toby Boon, then shared the research and study of insight.

Business assistant and market writer for AFR, James daggar nickson hosted a panel composed of a financial commentator and an author, Effie Zahos; co-founder and co-CEO of Judo Bank, Joseph healy; CEO of the Humm group, Rebecca James; and head of the Australian economy at the Commonwealth Bank, Gareth Aird.

Ben Thomas, The client’s finance director followed the panel and spoke about the Nine Financial Publishing Network.

Then liane Dubois, Director of Powered, spoke about the power of the Nine brands, with case studies including Commonwealth Bank and Suncorp.

To finish, Jo clasby, Director of Client Partnerships – Publishing, delivered the closing remarks.

“It’s no secret that economically the last 18 months have been a roller coaster ride,” said Michael Stephenson. “Our research found that a significant number of Australians still don’t feel comfortable managing their finances and are looking for brands that can help them with financial education, counseling and life planning. retirement.”

The research examined consumer perceptions with a range of interviewing, social listening, and quantitative research via Nine’s own multiplatform audience panel, Consumer Pulse.

Among the ideas highlighted by the research was a significant gender gap in financial literacy and the confidence to make “good decisions with money”. Research found that there had been a 113% increase in online conversation around financial literacy since the start of the pandemic, with nearly two-thirds led by women.

Research has shown how consumers are avoiding a ‘set and forget’ mentality and instead look for new ways to increase their wealth. This has helped spur the rise of cryptocurrency and alternative financial options, with Nine’s research also revealing that consumers may find it difficult to know where to turn for reliable financial information and that some, in especially men, turn to unverified, non-traditional online sources for advice. .

In particular, there was an opportunity for brands in the financial planning, investing and retirement space around to develop a conversation with consumers that is designed to build trust and a long-term relationship.

When asked the panels in which areas they needed help the most, consumers named long-term wealth growth, retirement / financial planning, and day-to-day running of the super as their greatest needs. .

“Our research shows that there has never been a better time for brands to connect with our audiences to improve their financial literacy,” said Stephenson. “Those brands that are able to speak to the specific needs and interests of Australians in an accessible, easy-to-understand manner that avoids financial jargon, will attract new customers and increase their market share.”

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