Australian consumers are either 'progressive' or 'conservative'

Mozo

Tuesday 09 August 2011

New research has shown that Australian consumers can be split into two distinct groups depending on their lifestyles and how they engage with modern technology.

Consumers are either progressive or conservative

According to a new report from KPMG, which was compiled with the help of online community Nine Rewards, there is a distinct split in the country between economically confident, tech-savvy consumers and those who have a less progressive stance on their spending.

Bernard Salt, KPMG demographer, said: "There are two Australians: the edgy, the connected and the modern-lifestyle-inclined and then there are the conservatives."

Australian consumers' spending and saving habits are also influenced by the age bracket they fall into and whether or not they have dependent children.

"Those with young and dependent children tend not to eat out or to have holidays. This is the time in life when households are most likely to have a series of credit cards," Slat added.

He said multiple credit card holders were more likely to be older – a finding which seems to run counter to conventional wisdom.

Recently, Michael Daniels, from mortgage broking group Smartline, told Mosman Daily that credit card customers should endeavour to pay their bills on time as failing to do so can have a negative impact on their ability to secure credit in the future.

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