Spending habits of Australians

Monday, 10 September 2012

Australians are 45 per cent more likely to use their credit cards to make purchases at retail outlets than they are at supermarkets, new industry analysis reveals.

Analysis by NAB and data analytics firm Quantium showed that Australians are using their debit cards more frequently than credit, but putting larger transactions through their credit cards, including when retail shopping, paying bills and dining out.

Last year, consumers went shopping for groceries more than once a week and spent an average of $60 each time. Over the year, Aussies spent almost $4000 each at the supermarket.

The data also revealed that consumers hit the petrol station an average 32 times each last year, and spent almost $1800 on fuel, with an average ticket price of $55.

On average, Australians paid 10 utility bills over the year at an average cost of $213 each time.

Average transaction size and yearly electronic spend across key categories:

Category Average ticket price Yearly electronic spend
Retail $86 $5,090
Supermarkets $57 $3,778
Utilities $213 $2,130
Fuel $55 $1,794
Eating out $55 $891

Michael Shurlin, NAB General Manager Cards and Personal Loans said Retail was a significant spending category for Australian consumers last year.

"Of the five categories analysed, retail led all comers with an average yearly spend of $5090 per person – $1312 more than the closest category of supermarket spending," he said.

"Australians make decisions every day about the best way to pay for goods and services and NAB encourages customers to consider their spending habits and budget when deciding which cards are right for them.

"Generally, rewards cards are best suited to credit card customers who regularly spend at least $1000 a month and pay their statement balance at the end of each month," he said.

"Low rate credit cards are best suited to customers working to reduce their balance while low fee cards are for those who use their card infrequently."

Mr Shurlin said NAB had led the industry in making credit cards fairer and more transparent, which gave customers even more reason to switch their banking to NAB.

"We've abolished credit card over-limit fees, dropped late payment fees to $5 and reinvented the way we allocate customer payments, so that higher rate transactions like cash advances are paid before purchases," he said.

Customers can visit the NAB website to access help, guidance and advice, and a range of tools to better manage their money.

For further information:

Media: Dianne Sarantakos M: +61 (0) 416 577 937

Media: Nick Higginbottom M: +61 (0) 477 342 075

About Quantium

Quantium is Australia's leading data analytics and marketing strategy firm. Quantium has worked with NAB for more than 4 years, assessing de-identified transaction data to derive insights, trends and shopping habits of different customer groups. The resulting analysis forms Market Blueprint and is used by NAB and other businesses to drive innovation and business performance through customer, distribution and marketing strategies.