Global data and insights company, Pureprofile has introduced the latest iteration of its unique SaaS solution. Audience Intelligence: Top 1,000 brands is a data platform that showcases verified, transactional data of Australia’s top 1,000 consumer brands.
The platform is a powerful tool for businesses looking to gain insight into industry market share, understand how they compare to the competition and track consumer spending trends from anonymised raw data. It consists of more than 30 categories including various retail sectors such as books, apparel, gaming, sporting and furniture.
Comprising transactional data that amounts to over $6 billion in spend via more than 115 million transactions a year and sourced from financial institutions, businesses will be able to understand when, where and how often people are spending within a range of industries.
A report generated by the Top 1,000 brandsplatform, analysing the anonymised spending of Australians from Boxing Day (26 December) to the Back to School period (31 January) in both 2021 to 2022 and 2022 to 2023.
The report reveals that the rising cost of living has led to an overall decline in average retail spending. The books category was the most affected with an 8% decline year-on-year, followed by clothing, shoes and fashion with a 4% decline. Gaming and fitness, sporting and outdoor equipment,both observed a 3% decline, whilefurniture, household goods and appliances was the least affected retail category with only a 2% decline.
By generation, Boomer spend declined the most, followed by Gen X. Average spend for Gen Z also declined in four out of five categories, but saw a sharp 8% rise in the fitness, sporting and outdoor equipment category. Average spend for Millennials saw the least decline overall, with a 4% spend increase in the furniture, household goods and appliancescategory.
New South Wales had the greatest market share in all sub-categories but did not see the greatest spend decline. Instead, this was most commonly seen in regions that had the least market share, namely the Northern Territory, Tasmania, South Australia and Western Australia.
Pureprofile CEO, Martin Filz, said, “It is evident that rising cost-of-living is affecting Australian consumers in a tangible way. The launch of Audience Intelligence: Top 1,000 brands comes at such an opportune moment. With this data, businesses better know how consumers are approaching recreational spending in 2023. Put simply, it’s challenging to rely on previous sales trends to map out an effective advertising and marketing strategy because this year is going to look very different.
“Unlike other solutions that look to measure brand value or trust by overlaying complicated formulas over annual report results or consumer perception, our platform gives you the facts. It is 100% raw spend data; there’s nowhere to hide with the results. This product is for companies who want an authentic picture of where they stand in the marketplace so they can build solid strategies to increase or maintain their standing.”