MDS Profiles – Spend
Derived from the most up-to-date ABS Household Expenditure Survey – this data drills down to reveal the expenditure of localities across 12 categories, including tobacco, medical care, fresh food and alcohol.
This kind of insight into lifestyles across Australia could fill a knowledge gap for numerous industries across the country – for example, life insurance.
Being able to identify which households spend more on fresh fruit and vegetables, versus those that that invest more on alcohol and tobacco products, means this data set could significantly influence the business decisions of Australia’s top insurers.
Using this information, companies could identify areas where people with healthier lifestyles reside; and insurers would then be able to reassess existing policies to develop a greater understanding of where they are already exposed to unacceptable amounts of risk.
But it’s not just the insurance industry that could benefit from this level of insight – utility companies could identify which areas spend the most on domestic fuels such as gas and electricity, and use this to provide competitive offerings.
Alternatively, the travel industry can investigate those already spending on overseas holidays and create incredibly targeted marketing campaigns. The possibilities available with this new data are endless.
household in Brisbane
Derived from the most up-to-date ABS Household Expenditure Survey
12 categories with more than 400 commodities
Modelled across Australia, accounting for changes in population and inflation
Reveals key insights into household spend across the country