Consumer Confidence increased for the fourth week in a row to 104.6 - up by 0.9pts in early October. Notwithstanding the increase, Consumer Confidence remains below the 2021 weekly average of 108.4 but is now 8.9 points higher than the same week a year ago (October 3/4, 2020. 95.7).
Driving this week’s increase was growing confidence in the performance of the Australian economy over the next year and next five years. This came as both Sydney and Melbourne’s vaccination rates soared making people optimistic about the cities' respective re-opening plans.
With reports warning of a supply shortage leading up to Christmas, buying intentions were down 2ppts this week with 36% of Australians saying now is a ‘good time to buy’ major household items. Whereas, 33% of Australians (up 2ppts) say now is a ‘bad time to buy’ household items.
Consumer spending rose 1.1% from the last quarter (Q2 2021) with all aspects of domestic demand holding out quite strong. However, it is expected that GDP will contract in Q3 due to the extended lockdowns in both NSW and VIC.
On the other hand, the reopening of the international borders for vaccinated Australians and permanent residents in November are expected to start to alter travel services credits and debits. This will happen gradually as state borders will open at different times to international travel. Meanwhile, skilled migrants and international students will be the second cohort to be allowed entry with foreign tourists being the last.
With the exception of Sunday night's NRL grand final, The Block has continued its reign as the highest rating non-news program, dominating the 7:30pm timeslot on Nine.
Nine won overall network share with The NRL Grand Final taking the top spot for both TTL PPL and P25-54 bringing in a huge 2.2M viewers on Sunday night. The Block on the other hand brought in a total of 2.78M viewers. Its closest competitor being The Masked singer bringing in a total of 1.6M viewers, that being only 648K for the finale.
In the week up to the 8th October, there were 1,092.5 million minutes of BVOD content consumed across Australia, reaching 6.2M People nationally.
Reality TV continues to capture audience attention, with the Block taking three of the top ten most watched programs last week. Home and Away continues to perform as top general entertainment, featuring four times in the Top 10 most watched shows on BVOD.
Thanks for coming! If you found this of interest, please like, share or, better still, stay up to date with our latest perspectives by following us on LinkedIn: https://www.linkedin.com/company/spark-foundry-australia