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McKinsey & Company 1
Five emerging consumer themes in March 2022
1 2 5
4
3
Declining optimism
Overall optimism fell
10% in 2022 versus
2020, driven by older
consumers
Most expect normalcy
to return to routines
only after June 2022;
nearly two-thirds do not
plan to splurge or treat
themselves in 2022
Omnichannel is
ascendant
Trials of alternatives to
in-store shopping
continues rising, and
70–80% of consumers
intend to continue their
usage
Intent to use out-of-
home services (eg,
online fitness and
telemedicine) is rising
Loyalty shake-up
continues
Most consumers have
tried a different brand or
retailer and indicate
higher intent to continue
Switching products or
brands is more
common than changing
retailers; consumers
switch to seek value
A tentative return
to out-of-home
activities
About half (49%) of
consumers say they are
engaging in “normal”
out-of-home activities
Of these, 75% say they
have changed the way
they engage because of
the omicron variant
Partial recovery of
out-of-home spend
Net intent to spend is
negative across most
categories; exceptions
are groceries and certain
discretionary and out-of-
home categories
Most changes in net
intent are price related
Source: McKinsey & Company COVID-19 Australia Consumer Pulse Survey, 3/16–3/25/2022, n = 1,004, sampled and weighted to match the Australia general population 18+ years
McKinsey & Company 2
Confidence in own country’s economic recovery after COVID-19,1 % of respondents
15
21
14
29 32 29
20 29
46
51 63
48 47
59
75
68
38
27
23 23 21
12
5 3
15
56
28
Mixed: The economy will be
impacted for 6–12 months or
longer and will stagnate or show
slow growth thereafter
Pessimistic: COVID-19 will
have lasting impact on the
economy and show regression
or fall into lengthy recession
Optimistic: The economy will
rebound within 2–3 months and
grow just as strong as or
stronger than before COVID-19
Australian consumers’ optimism about the economy puts them in
the midrange of consumers in all countries surveyed
1. Q: What is your overall confidence level surrounding economic conditions after the coronavirus (COVID-19) crisis subsides (ie, once there is herd immunity)? Rated from 1 “very optimistic” to 6 “very pessimistic.” Bars may not sum to
100% due to rounding.
Change in optimistic vs
last wave survey, percentage points
Source: McKinsey & Company COVID-19 Consumer Pulse Survey
India
3/11–24
+1
Oct 2021
US
3/1–25
–6
Oct 2021
Indonesia
3/16–26
+15
Sept 2020
Korea
3/19–26
+15
June 2020
Germany
3/22–28
–10
Oct 2021
France
3/23–28
–9
Oct 2021
UK
3/22–29
–12
Oct 2021
Australia
3/16–25
−10
Nov 2020
Japan
3/16–26
–2
Oct 2021
Declining optimism | Current as of March 2022
McKinsey & Company 3
20 19 20 23 26
13 15
58 61 60
60 52
49
57
22 20 20 17 22
38
28
June 2020
May 2020
Apr 20202 July 2020 Sept 2020 Nov 2020 Mar 2022
Declining optimism | Current as of March 2022
1. Q: How is your overall confidence level on economic conditions after the coronavirus (COVID-19) situation? Rated from 1 “very optimistic” to 6 “very pessimistic.” Figures may not sum to 100% because of rounding.
2. Average of weekly pulse surveys shown for Apr 2020.
Optimistic: The
economy will rebound
within 2–3 months and
grow just as strong as or
stronger than before
COVID-19
Mixed: The economy will
be impacted for 6–12
months or longer and will
stagnate or show slow
growth thereafter
Pessimistic: COVID-19
will have lasting impact
on the economy and
show regression or fall
into lengthy recession
Source: McKinsey & Company COVID-19 Australia Consumer Pulse Survey, 3/16–3/25/2022, n = 1,004; 11/27–11/30/2020, n = 811; 9/4–9/7/2020, n = 814; 7/17–7/19/2020, n = 798; 6/19–6/21/2020, n = 799; 5/8–5/11/2020, n = 704; 4/24–
4/26/2020, n = 585; 4/10–4/13/2020, n = 640; 4/3–4/5//2020, n = 669, sampled and weighted to match the Australia general population 18+ years
Optimism decreased in 2022 relative to November 2020, while
pessimism increased slightly
Confidence in own country’s economic recovery after COVID-19,1 % of respondents
McKinsey & Company 4
Optimism among low- and middle-income consumers has declined
recently, but improved for high-income consumers
Declining optimism | Current as of March 2022
15
20
34
22
22 21
40
27
15
29
44
46
10
30
15
0
5
20
25
35
40
45
50
Mar 2022
Sept 2020
July 2020 Nov 2020
Low (<AU $70K/year) High (>AU $125K/year)
Medium (AU $70–125K/year)
23
31
15
17
26
23
16
18
9 9
20
15
10
0
45
25
5
30
35
40
50
Nov 2020 Mar 2022
14
21
July 2020 Sept 2020
1. Q: What is your overall confidence level surrounding economic conditions after the coronavirus (COVID-19) crisis subsides (ie, once there is herd immunity)? Rated from 1 “very optimistic” to 6 “very pessimistic.”
Optimism by income Pessimism by income
Confidence in own country’s economic recovery after
COVID-19 by income level,1 % of respondents
Source: McKinsey & Company COVID-19 Australia Consumer Pulse Survey, 3/16–3/25/2022, n = 1,004; 11/27–11/30/2020, n = 811; 9/4–9/7/2020, n = 814; 7/17–7/19/2020, n = 798, sampled and
weighted to match the Australia general population 18+ years
McKinsey & Company 5
Younger and vaccinated consumers are relatively more optimistic
Declining optimism | Current as of March 2022
Confidence in own country’s economic recovery after COVID-191
% of respondents
46
17
40
Unvaccinated
Vaccinated
14
36
47
1. Q: What is your overall confidence level surrounding economic conditions after the coronavirus (COVID-19) crisis subsides (ie, once there is herd immunity)? Rated from 1 “very optimistic” to 6 “very pessimistic.”
2. Baby boomers includes silent generation.
13 13
20 15
50 52
57
61
37 35
23 24
Gen Z Millennials Gen X Baby boomers2
Optimistic Mixed Pessimistic
Source: McKinsey & Company COVID-19 Australia Consumer Pulse Survey, 3/16–3/25/2022, n = 1,004, sampled and weighted to match the Australia general population 18+ years
By generation By vaccination status
McKinsey & Company 6
31 28
34 36
15
13
9 6
54
59 57 58
Gen X
Gen Z Millennials Baby boomers3
32
47
10
5
58
48
Vaccinated Unvaccinated
33
10
57
Overall
1. Q: When do you expect your routines will return to normal? Figures may not sum to 100% because of rounding.
2. Q: Which best describes your vaccination status?
3. Baby boomers includes silent generation.
Source: McKinsey & Company COVID-19 Australia Consumer Pulse Survey, 3/16–3/25/2022, n = 1,004, sampled and weighted to match the Australia general population 18+ years
Not affected/already returned
After June 2022
By June 2022
By generation By vaccination status2
Younger generations
are more optimistic
about the return than
older consumers
More than one-third of
the older consumers
and ~47% of
unvaccinated
consumers state they
are either not affected
or already returned to
normal
Key findings
One-third say they are back to pre-COVID-19 routines
Expectations on routines returning to normal,1 % of respondents
Declining optimism | Current as of March 2022
McKinsey & Company 7
In the past month, more Australians have seen increases in
incomes and spending
Reduced slightly/a lot About the same Increased slightly/a lot
5
7
28
65
28
Past 2 weeks
23
Past 2 weeks
67
8
69
Past month
16
29
18
33
53
Past 2 weeks
Past 2 weeks
51
14
52
34
Past month
18
15
53
32
Past 2 weeks
33
49
27
Past 2 weeks
22
51
Past month
Source: McKinsey & Company COVID-19 Australia Consumer Pulse Survey, 3/16–3/25/2022, n = 1,004; 9/4–9/7/2020, n = 814; 7/17–7/19/2020, n = 798,
sampled and weighted to match the Australia general population 18+ years
1. Q: How has the coronavirus (COVID-19) crisis affected the following over the past one month? Figures may not sum to 100% because of rounding.
Household income1
% of respondents
Household spending1
% of respondents
Household savings1
% of respondents
July 17–19,
2020
Sept 4–7,
2020
Mar 16–25,
2022
July 17–19,
2020
Sept 4–7,
2020
Mar 16–25,
2022
July 17–19,
2020
Sept 4–7,
2020
Mar 16–25,
2022
Declining optimism | Current as of March 2022
McKinsey & Company 8
More than half of consumers say their finances are ‘normal’
53
42
52
62
14
10
8
33
48
40 36
Baby boomers3
Gen Z Millennials Gen X
2
53
40
7
6
40
54
Unvaccinated
Vaccinated
52
7
41
Overall
1. Q: When do you expect your personal/household finances will return to pre-COVID-19 times? Figures may not sum to 100% because of rounding.
2. Q: Which best describes your vaccination status?
3. Baby boomers includes silent generation.
Source: McKinsey & Company COVID-19 Australia Consumer Pulse Survey, 3/16–3/25/2022, n = 1,004, sampled and weighted to match the Australia general population 18+ years
By generation By vaccination status2 ~60% of baby
boomers say their
finances either were
not affected or are
back to normal, vs
~40% for millennials
Unvaccinated
consumers are the
only category in
which a majority
predict a delayed
return to normal
Expectations for personal/household finances
returning to ‘normal,’1 % of respondents
Not affected/already returned
After June 2022
By June 2022
Declining optimism | Current as of March 2022
McKinsey & Company 9
Majority of consumers do not plan on splurging, while younger and
high-income consumers plan to splurge
Source: McKinsey & Company COVID-19 Australia Consumer Pulse Survey, 3/16–3/25/2022, n = 1,004, sampled and weighted to match the Australia general population 18+ years
Do not plan
on splurging
37
Plan on
splurging
63
Mar-2022
Millennials
Gen X
Baby boomers2
52 68
Gen Z 83
35 47 62
21 22 27
32 36 36
Generation
Respondents who plan/do not plan to ‘splurge’
or ‘treat themselves’ in 20221
% of respondents
Low
(<AU $70K/year)
Middle
(AU $70K–125K/year)
High
(>AU $125K/year)
>70%
<30% 50–70%
30–50%
Respondents who plan to ‘splurge,’ by household income,
%
Declining optimism | Current as of March 2022
1. Q: With regard to products and services you will spend money on, do you plan to splurge/treat yourself in 2022? For example, are there categories of products or services you have spent less on over the last year and half which you feel you
will spend more on in next 3 months?
2. Baby boomers includes silent generation.
McKinsey & Company 10
Australians intend to splurge on out-of-home activities, with
younger consumers intending to spend on apparel and cosmetics
Categories where consumers intend to treat themselves1
% of all respondents with intent to splurge
1. Q: You mentioned that you plan to splurge/treat yourself in next 6 months. Which categories do you intend to treat yourself to? Please select all that apply.
2. Baby boomers includes silent generation.
39
37
30
29
25
24
22
19
19
17
16
15
11
Travel, lodging, vacation
Restaurants, dining out, bars
Electronics
Personal services
Apparel, shoes, accessories
Makeup, skin care products
Fitness
Out-of-home entertainment
Items for your home
Household essentials
Sports apparel and equipment
Outdoor living
Pets
Millennials Gen X
Gen Z
Baby
boomers2
−6 −9 1 21
1 2 0 −4
5 7 −2 −14
10 0 1 −10
3 2 5 −13
1 2 −2 −1
19 2 −1 −19
2 1 3 −7
2 2 5 −12
Generational cut
0 6 −1 −10
10 4 −6 −8
0 10 −10 −4
7 −1 1 −6
Source: McKinsey & Company COVID-19 Australia Consumer Pulse Survey, 3/16–3/25/2022, n = 1,004, sampled and weighted to match the Australia general population 18+ years
Between −3 and +3
< −3 > +3
Categories
Difference from all respondents,
percentage points
Declining optimism | Current as of March 2022
McKinsey & Company 11
Consumers are embracing omnichannel shopping primarily in
discretionary categories
1. Q: Which best describes how you have researched the following categories over the last 3 months?
2. Q: Which best described how you have purchased the following categories over the last 3 months?
78
75
74
74
72
70
66
61
58
58
57
54
53
53
51
51
50
50
45
43
42
41
12
16
17
20
17
19
19
18
24
26
26
20
30
22
28
23
25
22
31
25
26
36
10
9
9
6
11
11
15
21
18
16
17
26
17
25
21
26
25
28
24
32
32
23
Alcoholic beverages
Kitchen and dining
Household supplies
Pet food and supplies
Personal-care products
Tobacco products and smoking supplies
Home improvement, gardening supplies
Groceries/food for home
Pet care services
Books, magazines, newspapers
Vitamins, supplements, and OTC
Skin care and makeup
Fitness and wellness
Home decoration and furniture
Footwear
Food takeout/delivery
Accessories
Sports and outdoors equipment, supplies
Toys and baby supplies
Jewelry
Consumer electronics
Apparel
Research and purchase only in stores Omnichannel Research and purchase only online
Product searches1 and purchases2 by channel
% of respondents who purchased and searched in these categories in the last 3 months
Source: McKinsey & Company COVID-19 Australia Consumer Pulse Survey, 3/16–3/25/2022, n = 1,004, sampled and weighted to match the Australia general population 18+ years
Omnichannel is ascendant | Current as of March 2022
McKinsey & Company 12
Social-media influence is highest in discretionary–and often
appearance-related–categories
1. Q: Think about the purchases you have made in the following categories over the past 3 months. Were you influenced toward a certain brand by a post on social media in the following categories?.
2. Baby boomers includes silent generation.
44
39
37
31
29
28
27
26
25
20
19
17
17
16
16
12
Skin care and makeup
Fitness and wellness services
Consumer electronics
Jewelry
Home decoration and furniture
Accessories
Vitamins, supplements, and OTC medicine
Footwear
Sports and outdoors equipment, supplies
Apparel
Kitchen and dining
Home improvement, gardening supplies
Personal-care products
Pet food and supplies
Groceries
Household supplies
Millennials Gen X
Gen Z
Baby
boomers2
1 −3 44
14 11 −17 −27
14 11 −10 −31
26 11 −8 −26
12 5 −2 −19
14 7 −8 −24
28 10 −8 −24
−2 12 4 −20
38 8 −3 −22
Generational cut
3 10 −1 −18
14 8 2 −16
13 11 −4 −12
27 14 −7 −14
Between −3 and +3
< −3 > +3
Categories
Categories where respondents were influenced by social media1
% of all respondents
−3
16
16
14
12
13
12
−4
−2
−3
−9
−14
−11
Differencee from all respondents,
percentage points
Source: McKinsey & Company COVID-19 Australia Consumer Pulse Survey, 3/16–3/25/2022, n = 1,004, sampled and weighted to match the Australia general population 18+ years
Omnichannel is ascendant | Current as of March 2022
McKinsey & Company 13
More than two-thirds of respondents engage on some social-media
platforms at least once a week
Frequency of engagement with social-media platforms1
% of all respondents
1. Q: What social-media platforms do you engage with, and if so, how frequently?
91
74 69
44
25 24 24 24 23
9
26 31
56
75 76 76 76 77
TikTok
YouTube LinkedIn
Overall Instagram
Facebook Twitter Snapchat Pinterest
Weekly or more
Never/less than weekly
Source: McKinsey & Company COVID-19 Australia Consumer Pulse Survey, 3/16–3/25/2022, n = 1,004, sampled and weighted to match the Australia general population 18+ years
Omnichannel is ascendant | Current as of March 2022
McKinsey & Company 14
45 76
60
92
68
0
5
90
88
15
82
35
93
87
44
20
55
65 70
66 67 69 71 72 73 81
74 75 77 78
25
79 80
30
83 84 85
10
86 94
89 91
Downloaded/used deal-finding plug-ins
and price comparison apps/sites
Downloaded/used a new store/restaurant app
Buy online, pick up in store
Drive-thru line for a fast-food restaurant
Restaurant food delivery
Curbside pickup from a store
Grocery delivery
Paid more for delivery within 2 hours or 1 hour
Paid more for same-day delivery
Meal kit delivery
Curbside pickup from a restaurant
Purchased pre-owned products online
Purchased directly from social media
Self checkout or scan-and-go at a physical store
Intent to use when the COVID-19 pandemic subsides2
% of new or increased users who intend to keep doing activity
User
growth
since
COVID-19
1
1. User growth is calculated as % of respondents who replied that they are new users over % of respondents who replied that they were using the product/service pre-COVID-19 (using more, using the same, or using less) on Q: Which best
describes when you have done or used each of these items?
2. Q: Compared to now, will you do or use the following more, less, or not at all, once the coronavirus (COVID-19) crisis subsides (ie, once there is herd immunity)? Possible answers: “will stop this”; ”will reduce this”; “will keep doing what I am
doing now”; “will increase this.” Number indicates percent who chose “will keep doing what I am doing now” and “will increase this” among new or increased users.
Alternatives to in-store shopping accelerated during COVID-19;
70 to 80 percent of consumers intend to continue their use
Source: McKinsey & Company COVID-19 Australia Consumer Pulse Survey, 3/16–3/25/2022, n = 1,004, sampled and weighted to match the Australia general population 18+ years
Omnichannel is ascendant | Current as of March 2022
McKinsey & Company 15
53
35
30
69
40
55 67 89
54
45
90
0 63
62
50
52 56 86
57 58 66
59 84
60 81
71 72
61
5
64 74
65 68 78 87
70 73 83
75 80
76 79
77 82
20
85 88
0
10
15
25
Video conferencing: professional use
Watching e-sports
Remote learning for kids
Personal care/grooming at home
Telemedicine: mental health
Telemedicine: physical health
Virtual hangouts and video chats
Wellness app
Playing online games
TikTok
Remote learning for myself
Online fitness
Intent to use when the COVID-19 pandemic subsides2
% of new or increased users who intend to keep doing activity
User
growth
since
COVID-19
1
1. User growth is calculated as % of respondents who replied that they are new users over % of respondents who replied that they were using the product/service pre-COVID-19 (using more, using the same, or using less) on Q: Which best
describes when you have done or used each of these items?
2. Q: Compared to now, will you do or use the following more, less, or not at all, once the coronavirus (COVID-19) ) crisis subsides (ie, once there is herd immunity)? Possible answers: “will stop this”; ”will reduce this”; “will keep doing what I am
doing now”; “will increase this.” Number indicates respondents who chose “will keep doing what I am doing now” and “will increase this” among new or increased users.
Digital and remote acquisition of services—wellness, education,
communications—increased with strong intent to continue
Source: McKinsey & Company COVID-19 Australia Consumer Pulse Survey, 3/16–3/25/2022, n = 1,004, sampled and weighted to match the Australia general population 18+ years
Omnichannel is ascendant | Current as of March 2022
McKinsey & Company 16
Downloaded/used deal-finding plug-ins
Self-checkout or scan-and-go at a physical store
13
Curbside delivery at a store
18
40
7
22
18
13
62
29
31
11
46
A drive-thru line for a fast-food restaurant
33 33
Purchased directly from social media
17
Curbside pickup from a restaurant
27
22
25 43
10
9
49
11
Buy online, pick up in store
68
6
8
28
35
31
11
8
23
22
Used an app/website for delivery within 2 hours or less
30
11
37
26
14
Downloaded/used a new store/restaurant app
25
40
14
16
54
40
10
20
Purchased secondhand products online
Used an app/website for same-day delivery
24
32
17
29
6
Changed my primary grocery store
32
Shopped at a store I had not shopped at before for groceries
69
5
1
Cooked regularly for myself/my family
19
57
10
10
Personal care/grooming at home
28
50
11
11
Tried making something myself/DIY project
23
Source: McKinsey & Company COVID-19 Australia Consumer Pulse Survey, 3/16–3/25/2022, n = 1,004, sampled and weighted to match the Australia general population 18+ years
Intent to
continue2
Consumers continue to try new shopping behaviors and are looking
to continue or increase their usage
81
88
92
65
70
84
76
68
68
71
78
79
72
88
88
97
Which best describes when you have done or used each of these items?1
% of respondents who have used in the last 3 months
Using Same
Using less
Just started using Using more
N/A3
1. Q: And have you used or done any of the following in the last 3 months? If yes, Q: Which best describes when you have done or used each of these items? Possible answers: “just started using since COVID-19 started”; “I have not used in
the last 3 months”; “I have used in the last 3 months at the same rate as before”; “I have used this more in the past 3 month than before”; “I have used this less in the past 3 months than before.”
2. Q: Compared to now, will you do or use the following more, less, or not at all, once the coronavirus (COVID-19) ) crisis subsides (ie, once there is herd immunity)? Possible answers: “will stop this”; ”will reduce this”; “will keep doing what I
am doing now”; “will increase this.” Number indicates respondents who chose “will keep doing what I am doing now” and “will increase this” among new or increased users.
Omnichannel is ascendant | Current as of March 2022
McKinsey & Company 17
Consumers have acquired at-home alternatives to out-of-home
activities, such as telemedicine, fitness, and virtual hangouts
Source: McKinsey & Company COVID-19 Australia Consumer Pulse Survey, 3/16–3/25/2022, n = 1,004, sampled and weighted to match the Australia general population 18+ years
36
Watching online gaming
15
12
31
36
Online personal training, fitness
19
7
13
22
Wellness app
23
27
35
10
29
45
27
35
10
19
Restaurant food delivery
37
33
5
26
Digital workout bike or machine
16 39
14
9
Telemedicine for physical health care
Virtual hangouts and video chats for personal use
Meal kit delivery
5
40
43
5
40
39
9 12
Grocery delivery
14
54
Video conferencing for professional use
5
8
28
Online streaming
9
39
44
38
17
36
8
28
Telemedicine for mental health care
34
42
61
16
9
45
39
Playing online gaming
38
31
21
Remote learning for myself
27
15
32
Used TikTok 33
49
6
12
27
9
3
Used social media
Remote learning for my kids
82
88
76
45
68
81
87
67
51
71
73
52
58
60
72
75
89
Intent to
continue2
Which best describes when you have done or used each of these items?1
% of respondents who have used in the last 3 months
Just started using Using less Using same Using more
1. Q: Have you used or done any of the following since the coronavirus (COVID-19) crisis started? If yes, Q: Which best describes when you have done or used each of these items? Possible answers: “just started using since COVID-19
started”; “using more since COVID-19 started”; “using about the same since COVID-19 started”; “using less since COVID-19 started.”
2. Q: Compared to now, will you do or use the following more, less, or not at all, once the coronavirus (COVID-19) crisis subsides (ie, once there is herd immunity)? Possible answers: “will stop this”; ”will reduce this”; “will keep doing what I am
doing now”; “will increase this.” Number indicates respondents who chose “will keep doing what I am doing now” and “will increase this” among new or increased users.
Omnichannel is ascendant | Current as of March 2022
McKinsey & Company 18
−20
−30
−50
−80
−40
−70
−60
−10
0
10
20
30
Apr
10
Apr
3,
2020
Apr
24
May
8
June
19
July
17
Sept
4
Mar
16,
2022
Expected spending per category over the next 2–3 months vs usual1
Net intent2
Net intent to spend is increasing in discretionary and out-of-home
categories
Groceries
Household supplies
Fitness and wellness
Consumer electronics
Skin care and makeup
​Personal-care products
Apparel
Out-of-home
entertainment
Domestic flights
International flights
1. Q: Over the next 2–3 months, do you expect that you will spend more, about the same, or less money on these categories than usual? Figures may not sum to 100% because of rounding.
2. Net intent is calculated by subtracting the % of respondents stating they expect to decrease spending from the % of respondents stating they expect to increase spending.
Source: McKinsey & Company COVID-19 Australia Consumer Pulse Survey, 3/16–3/25/2022, n = 1,004; 9/4–9/7/2020, n = 814; 7/17–7/19/2020, n = 798; 6/19–6/21/2020, n = 799; 5/8–5/11/2020, n = 704;
4/24–4/26/2020, n = 585; 4/10–4/13/2020, n = 640; 4/3–4/5//2020, n = 669, sampled and weighted to match the Australia general population 18+ years
Partial recovery of out-of-home spend | Current as of March 2022
McKinsey & Company 19
Consumers report negative spending net intent, but discretionary
and out-of-home categories have bounced back since last survey
Net intent >1
Net intent −15 to 0
Net intent: < −15
12
26
33
27
33
33
35
33
47
41
22
22
36
31
23
31
35
16
11
13
10
13
12
11
12
22
16
12
11
17
16
18
15
Alcohol
Groceries
Tobacco products
Skin care and makeup
Apparel
Food takeout and delivery
Quick-service restaurant
Restaurant
Footwear
Jewelry
Accessories
10
Toys and baby
Kitchen and dining
Home improvement, garden
Household supplies
Personal-care products
Home and furniture
Sports and outdoors
10
10
Decrease Stay the same Increase
7
12
11
21
37
27
20
21
17
9
26
34
19
21
26
30
35
31
19
16
13
8
16
24
14
21
13
58
21
18
31
20
28
27
22
17
Consumer electronics
Pet food and supplies
Personal-care services
Pet care services
Vitamins and OTC medicine
Out-of-home entertainment
Entertainment at home
Cruises
Books/magazines/newspapers
Fitness and wellness
Gasoline
Vehicles
Short-term home rentals
Travel by car
Adventures and tours
International flights
Hotel/resort stays
Domestic flights
Net
intent2
2
−13
−21
−3
−6
0
−4
49
−16
12
−1
2
−3
−13
4
−5
1. Q: Over the next 2–3 months, do you expect that you will spend more, about the same, or less money on these categories than usual? Figures may not sum to 100% because of rounding.
2. Net intent is calculated by subtracting the % of respondents stating they expect to decrease spending from the % of respondents stating they expect to increase spending.
3. Data not available or insufficient sample (n < 50) in Sept 2020 survey.
19
4
−5
2
4
12
16
12
6
8
N/A3
10
13
15
13
N/A3
N/A3
N/A3
Change since
last survey
Change since
last survey
12 N/A3
14
2
7
15
22
17
23
21
66
35
19
29
N/A3
28
47
27
−14 17
Net
intent2
−37
23
0
6
−19
−10
−22
−14
−23
−20
−23
−22
−29
2
−11
−15
−5
−16
Source: McKinsey & Company COVID-19 Australia Consumer Pulse Survey, 3/16–3/25/2022, n = 1,004; 9/4–9/7/2020, n = 814, sampled and weighted to match the Australia general population 18+ years
Expected spending per category over the next 2–3 months vs usual1
% of respondents
Partial recovery of out-of-home spend | Current as of March 2022
McKinsey & Company 20
Vaccinated consumers plan to increase spending more than those
unlikely to get vaccinated, especially in out-of-home categories
1. Net intent is calculated by subtracting the % of respondents stating they expect to decrease spending from the % of respondents stating they expect to increase spending.
2. Q: Over the next 2–3 months, do you expect that you will spend more, about the same, or less money on these categories than usual?
−3
percentage points
Likelihood of
vaccinated vs
unvaccinated people
to spend
For selected categories
Net intent1 for expected spending per category over the next 2–3 months vs usual2
Unlikely Cautious Interested Vaccinated
Groceries
Food takeout and delivery
Restaurant
Quick-service restaurant
Home decor
Home and garden
Personal-care items
Fitness and wellness
Out-of-home entertainment
International flights
21
−31
−61
−46
−4
−6
−6
−84
−53
0
24
−22
−44
−21
25
−20
7
−53
19
0
−35
−21
43
−35
30
34
-15
20
−4
−100
23
−21
−18
−22
−21
−5
3
3
−2
−2
Between −3 and +3
< −3 > +3
Source: McKinsey & Company COVID-19 Australia Consumer Pulse Survey, 3/16–3/25/2022, n = 1,004, sampled and weighted to match the Australia general population 18+ years
Partial recovery of out-of-home spend | Current as of March 2022
McKinsey & Company 21
Consumers most often say price increases are the main reason for
increased spend in a majority of categories
2
3
1
2
5
4
2
7
8
6
3
4
6
5
8
26
39
37
12
10
16
26
22
24
14
8
12
15
33
18
20
15
6
30
20
23
13
14
18
44
28
43
42
50
35
13
46
42
34
35
85
41
39
38
70
72
64
31
49
33
36
34
47
69
17
34
42
51
Personal-care products
Personal-care services
Food takeout/delivery
Groceries
Meals at restaurants
Meals at quick-serve rest
Household supplies
Vitamins and supplements
Pet food and supplies
Pet care services
1
Apparel
Skin care and makeup
Footwear
Accessories
Consumer electronics
Vehicles
Home and decoration
Kitchen and dining
0
Increase in income
Larger quantity
Premium brands/products
Increase in price
1. Q: Please indicate the main reason for planning to spend more on the following categories.
Reasons for increase in spend1
% of respondents who increased spend
Partial recovery of out-of-home spend | Current as of March 2022
Source: McKinsey & Company COVID-19 Australia Consumer Pulse Survey, 3/16–3/25/2022, n = 1,004, sampled and weighted to match the Australia general population 18+ years
McKinsey & Company 22
Purchase of smaller quantities due to price increases is the most
common reason for decreased spend across all categories
22
17
15
14
13
16
23
15
13
17
18
18
17
16
20
19
17
23
48
47
42
42
44
28
31
32
39
32
36
30
36
37
26
33
36
30
19
14
19
14
17
28
29
28
23
18
12
10
8
21
13
6
17
16
6
21
21
27
19
19
14
19
19
29
30
37
36
26
35
41
25
24
5
1
3
3
7
9
3
6
6
4
4
5
3
6
1
5
7
Footwear
Personal-care services
Pet food and supplies
Vehicles
Groceries
Food takeout/delivery
Meals at restaurants
Personal-care products
Meals at quick-serve rest
Household supplies
Pet care services
Vitamins and supplements
Apparel
Accessories
Consumer electronics
0
Home and decoration
Kitchen and dining
Skin care and makeup
Decrease in income
Smaller quantity
Switch to less expensive
Spend more on other categories
Reduced price
1. Q: Please indicate the main reason for planning to spend less on the following categories.
Reasons for decrease in spend1
% of respondents who decreased spend
Partial recovery of out-of-home spend | Current as of March 2022
Source: McKinsey & Company COVID-19 Australia Consumer Pulse Survey, 3/16–3/25/2022, n = 1,004, sampled and weighted to match the Australia general population 18+ years
McKinsey & Company 23
49
34
25
32
June 2020
Mar 2022
Sept 2020
July 2020
Overall
Vaccinated
41
Unvaccinated
49
43
Gen X
Millennials
Gen Z
53
Baby boomers3
48
53
Low (<AU $70K) Medium (AU
$70K–125K)
High (>AU
$125K)
43
50 52
1. Q: Which best describes when you will regularly return to stores, restaurants, and other out-of-home activities? Chart shows those already participating in these activities.
2. Gen Z are people under 25 years old, millennials are 25–44 years old, Gen X are people 45–54 years old, baby boomers are 55 years old and above.
3. Baby boomers includes silent generation.
By
generation2
By
vaccination
adoption
By annual
income
~53%
of Gen Z and Gen X are
doing out-of-home
activities
~52%
of high-income
households are doing
out-of-home activities
~49%
of people who are
vaccinated are doing
out-of-home activities
Consumers engaging in out-of-home activities,1 % of respondents
Almost half of Australian consumers say they are engaging in
out-of-home activities
Source: McKinsey & Company COVID-19 Australia Consumer Pulse Survey, 3/16–3/25/2022, n = 1,004; 9/4–9/7/2020, n = 814; 7/17–7/19/2020, n = 798; 6/19–6/21/2020, n = 799, sampled and weighted to
match the Australia general population 18+ years
A tentative return to out-of-home activities | Current as of March 2022
McKinsey & Company 24
1. Q: Which best describes how you are engaging in each of these activities?
2. Data not available or insufficient sample (n < 30).
Social
Personal
care
Entertain-
ment
80
98
96
92
78
72
74
47
66
63
69
Use public transportation
Travel more than 2 hours by car
Work outside my home
Shop for non-necessities
Shop for groceries/necessities
Travel by airplane
Go to a shopping mall
Use a ride-sharing service
Travel by train
Stay in a hotel
Rent a short-term home
Work
Shopping
Transport/
travel
39
48
6
N/A2
43
N/A2
N/A2
N/A2
N/A2
N/A2
N/A2
49
50
N/A2
38
47
65
58
45
44
50% and above
Less than 50%
Change >10 pp
Change from
Sept 2020,
percentage points
Change from
Sept 2020,
percentage points
Consumers have started engaging in their routine out-of-home
activities like going to a mall and shopping for non-necessities
Source: McKinsey & Company COVID-19 Australia Consumer Pulse Survey, 3/16–3/25/2022, n = 1,004, sampled and weighted to match the Australia general population 18+ years
79
63
64
62
75
84
75
91
86
Go out for family entertainment
Go to the gym or fitness studio
Dine in at a restaurant or bar
Attend an outdoor event
Get together with family
Attend an indoor cultural event
Visit a crowded outdoor public place
Go to a hair or nail salon
Get together with friends
Out-of-home activities currently engaged in1
% of respondents who said doing this in the same or a modified way
A tentative return to out-of-home activities | Current as of March 2022
McKinsey & Company 25
1. Q: With the rise of the Omicron variant of COVID-19, how, if at all, has your out-of-home behavior changed?
7
22
19
19
35 45
41
38 34 33
4
High (>AU
$125K)
Low (<AU $70K)
2
Medium (AU
$70K–125K)
10
19
38
40
23
37
29
4
Vaccinated Unvaccinated
21
39
36
4
Overall
Engage less
Engage more
Engage with
adjusted behavior
Engage same as
before omicron
By annual income By vaccination status
Medium- and high-
income consumers
are more cautious
when going out
Nearly 80 percent of
vaccinated consumers
are engaging less or
adjusting their out-of-
home activities due to
Omicron variant
Key findings
Adjustments to out-of-home behavior due to prevalence of omicron variant,1 % of respondents
Roughly 75 percent of consumers have changed the way they engage
in out-of-home activities because of the omicron variant
Source: McKinsey & Company COVID-19 Australia Consumer Pulse Survey, 3/16–3/25/2022, n = 1,004, sampled and weighted to match the Australia general population 18+ years
A tentative return to out-of-home activities | Current as of March 2022
McKinsey & Company 26
1. Q: Which best describes how you are engaging in each of these activities? Possible answers: “Not doing this at all”; “Doing this in the same way as pre-COVID-19, but less often”; “Doing this in a modified way vs. pre-COVID-19”;
“Doing this just as much and in the same way as I did pre-COVID-19.”
Work
Shopping
Transport/
travel
Social
Personal
care
Entertain-
ment
Go to a hair or nail salon
Go out for family entertainment
22
78
19
Dine indoors at a restaurant or bar
18
15
85
82
Attend an indoor cultural event
19
81
Attend an outdoor event
81
Visit a crowded outdoor public place
29
71
29
71
Go to the gym or fitness studio
28
72
Get together with family
23
77
Get together with friends
67
78
33
39
Use public transportation
61
Work outside my home
Shop for groceries/necessities 64
Shop for non-necessities
27
73
Go to a shopping mall
27
73
Travel more than 2 hours by car
36
22
21
79
Use a ride-sharing service
84
79
Travel by airplane
21
79
Rent a short-term home
Travel by train
21
79
Stay in a hotel
21
16
Doing less, doing in a modified way
Doing as much as and in the same way as pre-COVID-19
Engagement in out-of-home activities1
% of respondents having engaged in activity pre-COVID-19
Depending on the category, about 70 to 80 percent of consumers
have modified their behavior when out of home
Source: McKinsey & Company COVID-19 Australia Consumer Pulse Survey, 3/16–3/25/2022, n = 1,004, sampled and weighted to match the Australia general population 18+ years
A tentative return to out-of-home activities | Current as of March 2022
McKinsey & Company 27
Main life events done in the last 12 months as a result of COVID-19,1 % of respondents
21
9
4
9
11
9
7
4
4
3
5
Moved into a bigger home
Set up a gym at home
Decided to change jobs
Worked more from home
Renovated/remodeled my home
Started homeschooling children
Set up a specific work-from-home space
Got a new pet at home (eg, dog, cat)
Moved into a smaller home
Bought a property
Sold a property
Work/study
change
Mar 2022
Pet adoption
House move
Home
renovation
Investments/
divestments
Total,2
%
7
29
8
23
7
1. Q: Which of the following have you done in the last 12 months as a result of the COVID-19 crisis?
2. Total percentage of people who choose option(s) in the category.
Even though consumers have increased out-of-home activity, they
are still investing in their home environment due to COVID-19
Source: McKinsey & Company COVID-19 Australia Consumer Pulse Survey, 3/16–3/25/2022, n = 1,004, sampled and weighted to match the Australia general population 18+ years
A tentative return to out-of-home activities | Current as of March 2022
McKinsey & Company 28
Milestones for the Australia population not yet engaging with out-of-home activities1
% of respondents awaiting each milestone before engaging
17
26
14
43
Vaccination
coverage
Government
lifts restrictions
Government lifts
restrictions and
other requirements
COVID-19 no
longer spreading
51%
of people are not
currently engaging
in ‘normal’ out-of-
home activities
Vaccination coverage
Government lifts restrictions and …
1. Q: Which best describes when you will regularly return to stores, restaurants, and other out-of-home activities? Chart rebased to exclude those already
participating in these activities and those who do not deem any of these items important. Figures may not sum to 100% because of rounding.
10%
Medical authorities deem safe
8%
Stores, restaurants, and other
indoor places start taking safety
measures
8%
I see other people returning
7%
Vaccine is widely distributed
4%
I have been vaccinated
3%
Family member(s) vaccinated
Around half of Australian consumers hesitate to return to out-of-
home activities until health/social restrictions are completely lifted
Source: McKinsey & Company COVID-19 Australia Consumer Pulse Survey, 3/16–3/25/2022, n = 1,004, sampled and weighted to match the Australia general population 18+ years
A tentative return to out-of-home activities | Current as of March 2022
McKinsey & Company 29
65
46
34
28
17
14
Any new shopping behavior
Different brand
New digital shopping method3
Private label/store brand
Different retailer/store/website
New shopping method3
82 −7
86 3
80 −11
74 −8
High
(>AU $125,000/year)
Gen Z Millennials
73
85 76
50
86 3 62 50
41
50 44
32
32 32
26
42 26
23
29 27
Income cut
Generational cut
All consumers
% of
respondents
Change from
Sept 2020,
percentage points
Intent to continue behavior2
Between −3 and +3
< −3 > +3
1. Q: Over the past 3 months, which of the following have you done? 35% replied “None of these”
2. Q: Which best describes whether or not you plan to continue with these shopping changes? Possible answers: “will go back to what I did before 3 months ago”; ”will keep doing both this and what I did before 3 months ago”; ”will keep doing
this and NOT go back to what I did before 3 months ago.” Intent to continue includes respondents who selected “will keep doing both this and what I did before 3 months ago” and “will keep doing this and NOT go back to what I did before 3
months ago.”
3. “New shopping method” includes curbside pickup and delivery apps. ”New digital shopping method includes downloaded a new app, signed up for a new subscription service.
Behaviors since COVID-19 started1
% of respondents
Most Australian consumers have tried a different brand or retailer,
with higher intent to continue their usage
Difference from all respondents,
percentage points
Source: McKinsey & Company COVID-19 Australia Consumer Pulse Survey, 3/16–3/25/2022, n = 1,004; 9/4–9/7/2020, n = 814, sampled and weighted to match the Australia general population 18+ years
Loyalty shake-up continues | Current as of March 2022
McKinsey & Company 30
Sixty-five percent of customers experienced stockouts, with
nearly 40 percent of those going to a different retailer for the
same/similar product
1. Q: Over the last 3 months, have you wanted to buy something and not been able to purchase it because it was out of stock or otherwise not available?
2. Q: The most recent time this happened (when you wanted to buy something and it was not available), what did you do?
35
65
Able to purchase
all items
Mar 2022
Could not purchase
at least 1 item
Respondents who planned to purchase
something but could not, due to unavailability1
% of respondents
19
19
13
18
31
Waited until the product was
available at the same retailer
Bought a different brand or similar
product at a different retailer
Bought the product
at a different retailer
Bought a different product
at the same retailer
Did not buy anything
All consumers who could not make a planned
purchase2
% of respondents
Source: McKinsey & Company COVID-19 Australia Consumer Pulse Survey, 3/16–3/25/2022, n = 1,004, sampled and weighted to match the Australia general population 18+ years
Loyalty shake-up continues | Current as of March 2022
McKinsey & Company 31
Reason for trying a new brand since COVID-19 began1
% of respondents selecting reason in top 3
1. Q: You mentioned you tried a new/different brand than what you normally buy. What were the main reasons that drove this decision? Select up to 3 relevant reasons. “Brand” includes different brand, new private label/store brand.
Overarching reason based on % of individual respondents responding to at least 1 reason in the group.
2. Baby boomers includes silent generation.
10
Better shipping, delivery cost
6
35
6
4
5
Shares my values
3
14
10
23
17
Better prices, promotions
4
38
17
10
Cleaner, safer
Better value
7
Using eco-friendly ingredients
Available where I’m shopping (ie, in-store or online)
Larger package sizes
Wanted to try a new brand I found
Wanted to try a type of product I’ve never tried before
Wanted to treat myself
Using recyclable packing materials
The company treats its employees well
Products are in stock
Better quality
Natural, organic
Wanted variety, change from my normal routine
11
Supporting local businesses
16
Novelty
Personal choice
Purpose-driven
Quality/organic
Convenience
Health/hygiene
Availability
30
Value 62
28
23
19
17
19
Baby
boomers2
Gen Z/
millennials Gen X
32 41
43
27 39
45
10 1
4
6 3
4
17 16
16
16 23
11
14 5
12
16 6
7
7 8
7
8 2
5
6 1
2
16 29
29
17 8
15
5 7
6
15 7
6
11 8
9
16 21
13
All consumers
Between −3 and +3
< −3 > +3
The top reason for a brand switch was value; availability came next
for older consumers, and purpose for younger consumers`
x Net % of respondents per category
Difference from all respondents,
percentage points
4 7 1
2
Source: McKinsey & Company COVID-19 Australia Consumer Pulse Survey, 3/16–3/25/2022, n = 1,004, sampled and weighted to match the Australia general population 18+ years
Loyalty shake-up continues | Current as of March 2022

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McKinsey Survey: Australian consumer sentiment during the coronavirus crisis

  • 1. McKinsey & Company 1 Five emerging consumer themes in March 2022 1 2 5 4 3 Declining optimism Overall optimism fell 10% in 2022 versus 2020, driven by older consumers Most expect normalcy to return to routines only after June 2022; nearly two-thirds do not plan to splurge or treat themselves in 2022 Omnichannel is ascendant Trials of alternatives to in-store shopping continues rising, and 70–80% of consumers intend to continue their usage Intent to use out-of- home services (eg, online fitness and telemedicine) is rising Loyalty shake-up continues Most consumers have tried a different brand or retailer and indicate higher intent to continue Switching products or brands is more common than changing retailers; consumers switch to seek value A tentative return to out-of-home activities About half (49%) of consumers say they are engaging in “normal” out-of-home activities Of these, 75% say they have changed the way they engage because of the omicron variant Partial recovery of out-of-home spend Net intent to spend is negative across most categories; exceptions are groceries and certain discretionary and out-of- home categories Most changes in net intent are price related Source: McKinsey & Company COVID-19 Australia Consumer Pulse Survey, 3/16–3/25/2022, n = 1,004, sampled and weighted to match the Australia general population 18+ years
  • 2. McKinsey & Company 2 Confidence in own country’s economic recovery after COVID-19,1 % of respondents 15 21 14 29 32 29 20 29 46 51 63 48 47 59 75 68 38 27 23 23 21 12 5 3 15 56 28 Mixed: The economy will be impacted for 6–12 months or longer and will stagnate or show slow growth thereafter Pessimistic: COVID-19 will have lasting impact on the economy and show regression or fall into lengthy recession Optimistic: The economy will rebound within 2–3 months and grow just as strong as or stronger than before COVID-19 Australian consumers’ optimism about the economy puts them in the midrange of consumers in all countries surveyed 1. Q: What is your overall confidence level surrounding economic conditions after the coronavirus (COVID-19) crisis subsides (ie, once there is herd immunity)? Rated from 1 “very optimistic” to 6 “very pessimistic.” Bars may not sum to 100% due to rounding. Change in optimistic vs last wave survey, percentage points Source: McKinsey & Company COVID-19 Consumer Pulse Survey India 3/11–24 +1 Oct 2021 US 3/1–25 –6 Oct 2021 Indonesia 3/16–26 +15 Sept 2020 Korea 3/19–26 +15 June 2020 Germany 3/22–28 –10 Oct 2021 France 3/23–28 –9 Oct 2021 UK 3/22–29 –12 Oct 2021 Australia 3/16–25 −10 Nov 2020 Japan 3/16–26 –2 Oct 2021 Declining optimism | Current as of March 2022
  • 3. McKinsey & Company 3 20 19 20 23 26 13 15 58 61 60 60 52 49 57 22 20 20 17 22 38 28 June 2020 May 2020 Apr 20202 July 2020 Sept 2020 Nov 2020 Mar 2022 Declining optimism | Current as of March 2022 1. Q: How is your overall confidence level on economic conditions after the coronavirus (COVID-19) situation? Rated from 1 “very optimistic” to 6 “very pessimistic.” Figures may not sum to 100% because of rounding. 2. Average of weekly pulse surveys shown for Apr 2020. Optimistic: The economy will rebound within 2–3 months and grow just as strong as or stronger than before COVID-19 Mixed: The economy will be impacted for 6–12 months or longer and will stagnate or show slow growth thereafter Pessimistic: COVID-19 will have lasting impact on the economy and show regression or fall into lengthy recession Source: McKinsey & Company COVID-19 Australia Consumer Pulse Survey, 3/16–3/25/2022, n = 1,004; 11/27–11/30/2020, n = 811; 9/4–9/7/2020, n = 814; 7/17–7/19/2020, n = 798; 6/19–6/21/2020, n = 799; 5/8–5/11/2020, n = 704; 4/24– 4/26/2020, n = 585; 4/10–4/13/2020, n = 640; 4/3–4/5//2020, n = 669, sampled and weighted to match the Australia general population 18+ years Optimism decreased in 2022 relative to November 2020, while pessimism increased slightly Confidence in own country’s economic recovery after COVID-19,1 % of respondents
  • 4. McKinsey & Company 4 Optimism among low- and middle-income consumers has declined recently, but improved for high-income consumers Declining optimism | Current as of March 2022 15 20 34 22 22 21 40 27 15 29 44 46 10 30 15 0 5 20 25 35 40 45 50 Mar 2022 Sept 2020 July 2020 Nov 2020 Low (<AU $70K/year) High (>AU $125K/year) Medium (AU $70–125K/year) 23 31 15 17 26 23 16 18 9 9 20 15 10 0 45 25 5 30 35 40 50 Nov 2020 Mar 2022 14 21 July 2020 Sept 2020 1. Q: What is your overall confidence level surrounding economic conditions after the coronavirus (COVID-19) crisis subsides (ie, once there is herd immunity)? Rated from 1 “very optimistic” to 6 “very pessimistic.” Optimism by income Pessimism by income Confidence in own country’s economic recovery after COVID-19 by income level,1 % of respondents Source: McKinsey & Company COVID-19 Australia Consumer Pulse Survey, 3/16–3/25/2022, n = 1,004; 11/27–11/30/2020, n = 811; 9/4–9/7/2020, n = 814; 7/17–7/19/2020, n = 798, sampled and weighted to match the Australia general population 18+ years
  • 5. McKinsey & Company 5 Younger and vaccinated consumers are relatively more optimistic Declining optimism | Current as of March 2022 Confidence in own country’s economic recovery after COVID-191 % of respondents 46 17 40 Unvaccinated Vaccinated 14 36 47 1. Q: What is your overall confidence level surrounding economic conditions after the coronavirus (COVID-19) crisis subsides (ie, once there is herd immunity)? Rated from 1 “very optimistic” to 6 “very pessimistic.” 2. Baby boomers includes silent generation. 13 13 20 15 50 52 57 61 37 35 23 24 Gen Z Millennials Gen X Baby boomers2 Optimistic Mixed Pessimistic Source: McKinsey & Company COVID-19 Australia Consumer Pulse Survey, 3/16–3/25/2022, n = 1,004, sampled and weighted to match the Australia general population 18+ years By generation By vaccination status
  • 6. McKinsey & Company 6 31 28 34 36 15 13 9 6 54 59 57 58 Gen X Gen Z Millennials Baby boomers3 32 47 10 5 58 48 Vaccinated Unvaccinated 33 10 57 Overall 1. Q: When do you expect your routines will return to normal? Figures may not sum to 100% because of rounding. 2. Q: Which best describes your vaccination status? 3. Baby boomers includes silent generation. Source: McKinsey & Company COVID-19 Australia Consumer Pulse Survey, 3/16–3/25/2022, n = 1,004, sampled and weighted to match the Australia general population 18+ years Not affected/already returned After June 2022 By June 2022 By generation By vaccination status2 Younger generations are more optimistic about the return than older consumers More than one-third of the older consumers and ~47% of unvaccinated consumers state they are either not affected or already returned to normal Key findings One-third say they are back to pre-COVID-19 routines Expectations on routines returning to normal,1 % of respondents Declining optimism | Current as of March 2022
  • 7. McKinsey & Company 7 In the past month, more Australians have seen increases in incomes and spending Reduced slightly/a lot About the same Increased slightly/a lot 5 7 28 65 28 Past 2 weeks 23 Past 2 weeks 67 8 69 Past month 16 29 18 33 53 Past 2 weeks Past 2 weeks 51 14 52 34 Past month 18 15 53 32 Past 2 weeks 33 49 27 Past 2 weeks 22 51 Past month Source: McKinsey & Company COVID-19 Australia Consumer Pulse Survey, 3/16–3/25/2022, n = 1,004; 9/4–9/7/2020, n = 814; 7/17–7/19/2020, n = 798, sampled and weighted to match the Australia general population 18+ years 1. Q: How has the coronavirus (COVID-19) crisis affected the following over the past one month? Figures may not sum to 100% because of rounding. Household income1 % of respondents Household spending1 % of respondents Household savings1 % of respondents July 17–19, 2020 Sept 4–7, 2020 Mar 16–25, 2022 July 17–19, 2020 Sept 4–7, 2020 Mar 16–25, 2022 July 17–19, 2020 Sept 4–7, 2020 Mar 16–25, 2022 Declining optimism | Current as of March 2022
  • 8. McKinsey & Company 8 More than half of consumers say their finances are ‘normal’ 53 42 52 62 14 10 8 33 48 40 36 Baby boomers3 Gen Z Millennials Gen X 2 53 40 7 6 40 54 Unvaccinated Vaccinated 52 7 41 Overall 1. Q: When do you expect your personal/household finances will return to pre-COVID-19 times? Figures may not sum to 100% because of rounding. 2. Q: Which best describes your vaccination status? 3. Baby boomers includes silent generation. Source: McKinsey & Company COVID-19 Australia Consumer Pulse Survey, 3/16–3/25/2022, n = 1,004, sampled and weighted to match the Australia general population 18+ years By generation By vaccination status2 ~60% of baby boomers say their finances either were not affected or are back to normal, vs ~40% for millennials Unvaccinated consumers are the only category in which a majority predict a delayed return to normal Expectations for personal/household finances returning to ‘normal,’1 % of respondents Not affected/already returned After June 2022 By June 2022 Declining optimism | Current as of March 2022
  • 9. McKinsey & Company 9 Majority of consumers do not plan on splurging, while younger and high-income consumers plan to splurge Source: McKinsey & Company COVID-19 Australia Consumer Pulse Survey, 3/16–3/25/2022, n = 1,004, sampled and weighted to match the Australia general population 18+ years Do not plan on splurging 37 Plan on splurging 63 Mar-2022 Millennials Gen X Baby boomers2 52 68 Gen Z 83 35 47 62 21 22 27 32 36 36 Generation Respondents who plan/do not plan to ‘splurge’ or ‘treat themselves’ in 20221 % of respondents Low (<AU $70K/year) Middle (AU $70K–125K/year) High (>AU $125K/year) >70% <30% 50–70% 30–50% Respondents who plan to ‘splurge,’ by household income, % Declining optimism | Current as of March 2022 1. Q: With regard to products and services you will spend money on, do you plan to splurge/treat yourself in 2022? For example, are there categories of products or services you have spent less on over the last year and half which you feel you will spend more on in next 3 months? 2. Baby boomers includes silent generation.
  • 10. McKinsey & Company 10 Australians intend to splurge on out-of-home activities, with younger consumers intending to spend on apparel and cosmetics Categories where consumers intend to treat themselves1 % of all respondents with intent to splurge 1. Q: You mentioned that you plan to splurge/treat yourself in next 6 months. Which categories do you intend to treat yourself to? Please select all that apply. 2. Baby boomers includes silent generation. 39 37 30 29 25 24 22 19 19 17 16 15 11 Travel, lodging, vacation Restaurants, dining out, bars Electronics Personal services Apparel, shoes, accessories Makeup, skin care products Fitness Out-of-home entertainment Items for your home Household essentials Sports apparel and equipment Outdoor living Pets Millennials Gen X Gen Z Baby boomers2 −6 −9 1 21 1 2 0 −4 5 7 −2 −14 10 0 1 −10 3 2 5 −13 1 2 −2 −1 19 2 −1 −19 2 1 3 −7 2 2 5 −12 Generational cut 0 6 −1 −10 10 4 −6 −8 0 10 −10 −4 7 −1 1 −6 Source: McKinsey & Company COVID-19 Australia Consumer Pulse Survey, 3/16–3/25/2022, n = 1,004, sampled and weighted to match the Australia general population 18+ years Between −3 and +3 < −3 > +3 Categories Difference from all respondents, percentage points Declining optimism | Current as of March 2022
  • 11. McKinsey & Company 11 Consumers are embracing omnichannel shopping primarily in discretionary categories 1. Q: Which best describes how you have researched the following categories over the last 3 months? 2. Q: Which best described how you have purchased the following categories over the last 3 months? 78 75 74 74 72 70 66 61 58 58 57 54 53 53 51 51 50 50 45 43 42 41 12 16 17 20 17 19 19 18 24 26 26 20 30 22 28 23 25 22 31 25 26 36 10 9 9 6 11 11 15 21 18 16 17 26 17 25 21 26 25 28 24 32 32 23 Alcoholic beverages Kitchen and dining Household supplies Pet food and supplies Personal-care products Tobacco products and smoking supplies Home improvement, gardening supplies Groceries/food for home Pet care services Books, magazines, newspapers Vitamins, supplements, and OTC Skin care and makeup Fitness and wellness Home decoration and furniture Footwear Food takeout/delivery Accessories Sports and outdoors equipment, supplies Toys and baby supplies Jewelry Consumer electronics Apparel Research and purchase only in stores Omnichannel Research and purchase only online Product searches1 and purchases2 by channel % of respondents who purchased and searched in these categories in the last 3 months Source: McKinsey & Company COVID-19 Australia Consumer Pulse Survey, 3/16–3/25/2022, n = 1,004, sampled and weighted to match the Australia general population 18+ years Omnichannel is ascendant | Current as of March 2022
  • 12. McKinsey & Company 12 Social-media influence is highest in discretionary–and often appearance-related–categories 1. Q: Think about the purchases you have made in the following categories over the past 3 months. Were you influenced toward a certain brand by a post on social media in the following categories?. 2. Baby boomers includes silent generation. 44 39 37 31 29 28 27 26 25 20 19 17 17 16 16 12 Skin care and makeup Fitness and wellness services Consumer electronics Jewelry Home decoration and furniture Accessories Vitamins, supplements, and OTC medicine Footwear Sports and outdoors equipment, supplies Apparel Kitchen and dining Home improvement, gardening supplies Personal-care products Pet food and supplies Groceries Household supplies Millennials Gen X Gen Z Baby boomers2 1 −3 44 14 11 −17 −27 14 11 −10 −31 26 11 −8 −26 12 5 −2 −19 14 7 −8 −24 28 10 −8 −24 −2 12 4 −20 38 8 −3 −22 Generational cut 3 10 −1 −18 14 8 2 −16 13 11 −4 −12 27 14 −7 −14 Between −3 and +3 < −3 > +3 Categories Categories where respondents were influenced by social media1 % of all respondents −3 16 16 14 12 13 12 −4 −2 −3 −9 −14 −11 Differencee from all respondents, percentage points Source: McKinsey & Company COVID-19 Australia Consumer Pulse Survey, 3/16–3/25/2022, n = 1,004, sampled and weighted to match the Australia general population 18+ years Omnichannel is ascendant | Current as of March 2022
  • 13. McKinsey & Company 13 More than two-thirds of respondents engage on some social-media platforms at least once a week Frequency of engagement with social-media platforms1 % of all respondents 1. Q: What social-media platforms do you engage with, and if so, how frequently? 91 74 69 44 25 24 24 24 23 9 26 31 56 75 76 76 76 77 TikTok YouTube LinkedIn Overall Instagram Facebook Twitter Snapchat Pinterest Weekly or more Never/less than weekly Source: McKinsey & Company COVID-19 Australia Consumer Pulse Survey, 3/16–3/25/2022, n = 1,004, sampled and weighted to match the Australia general population 18+ years Omnichannel is ascendant | Current as of March 2022
  • 14. McKinsey & Company 14 45 76 60 92 68 0 5 90 88 15 82 35 93 87 44 20 55 65 70 66 67 69 71 72 73 81 74 75 77 78 25 79 80 30 83 84 85 10 86 94 89 91 Downloaded/used deal-finding plug-ins and price comparison apps/sites Downloaded/used a new store/restaurant app Buy online, pick up in store Drive-thru line for a fast-food restaurant Restaurant food delivery Curbside pickup from a store Grocery delivery Paid more for delivery within 2 hours or 1 hour Paid more for same-day delivery Meal kit delivery Curbside pickup from a restaurant Purchased pre-owned products online Purchased directly from social media Self checkout or scan-and-go at a physical store Intent to use when the COVID-19 pandemic subsides2 % of new or increased users who intend to keep doing activity User growth since COVID-19 1 1. User growth is calculated as % of respondents who replied that they are new users over % of respondents who replied that they were using the product/service pre-COVID-19 (using more, using the same, or using less) on Q: Which best describes when you have done or used each of these items? 2. Q: Compared to now, will you do or use the following more, less, or not at all, once the coronavirus (COVID-19) crisis subsides (ie, once there is herd immunity)? Possible answers: “will stop this”; ”will reduce this”; “will keep doing what I am doing now”; “will increase this.” Number indicates percent who chose “will keep doing what I am doing now” and “will increase this” among new or increased users. Alternatives to in-store shopping accelerated during COVID-19; 70 to 80 percent of consumers intend to continue their use Source: McKinsey & Company COVID-19 Australia Consumer Pulse Survey, 3/16–3/25/2022, n = 1,004, sampled and weighted to match the Australia general population 18+ years Omnichannel is ascendant | Current as of March 2022
  • 15. McKinsey & Company 15 53 35 30 69 40 55 67 89 54 45 90 0 63 62 50 52 56 86 57 58 66 59 84 60 81 71 72 61 5 64 74 65 68 78 87 70 73 83 75 80 76 79 77 82 20 85 88 0 10 15 25 Video conferencing: professional use Watching e-sports Remote learning for kids Personal care/grooming at home Telemedicine: mental health Telemedicine: physical health Virtual hangouts and video chats Wellness app Playing online games TikTok Remote learning for myself Online fitness Intent to use when the COVID-19 pandemic subsides2 % of new or increased users who intend to keep doing activity User growth since COVID-19 1 1. User growth is calculated as % of respondents who replied that they are new users over % of respondents who replied that they were using the product/service pre-COVID-19 (using more, using the same, or using less) on Q: Which best describes when you have done or used each of these items? 2. Q: Compared to now, will you do or use the following more, less, or not at all, once the coronavirus (COVID-19) ) crisis subsides (ie, once there is herd immunity)? Possible answers: “will stop this”; ”will reduce this”; “will keep doing what I am doing now”; “will increase this.” Number indicates respondents who chose “will keep doing what I am doing now” and “will increase this” among new or increased users. Digital and remote acquisition of services—wellness, education, communications—increased with strong intent to continue Source: McKinsey & Company COVID-19 Australia Consumer Pulse Survey, 3/16–3/25/2022, n = 1,004, sampled and weighted to match the Australia general population 18+ years Omnichannel is ascendant | Current as of March 2022
  • 16. McKinsey & Company 16 Downloaded/used deal-finding plug-ins Self-checkout or scan-and-go at a physical store 13 Curbside delivery at a store 18 40 7 22 18 13 62 29 31 11 46 A drive-thru line for a fast-food restaurant 33 33 Purchased directly from social media 17 Curbside pickup from a restaurant 27 22 25 43 10 9 49 11 Buy online, pick up in store 68 6 8 28 35 31 11 8 23 22 Used an app/website for delivery within 2 hours or less 30 11 37 26 14 Downloaded/used a new store/restaurant app 25 40 14 16 54 40 10 20 Purchased secondhand products online Used an app/website for same-day delivery 24 32 17 29 6 Changed my primary grocery store 32 Shopped at a store I had not shopped at before for groceries 69 5 1 Cooked regularly for myself/my family 19 57 10 10 Personal care/grooming at home 28 50 11 11 Tried making something myself/DIY project 23 Source: McKinsey & Company COVID-19 Australia Consumer Pulse Survey, 3/16–3/25/2022, n = 1,004, sampled and weighted to match the Australia general population 18+ years Intent to continue2 Consumers continue to try new shopping behaviors and are looking to continue or increase their usage 81 88 92 65 70 84 76 68 68 71 78 79 72 88 88 97 Which best describes when you have done or used each of these items?1 % of respondents who have used in the last 3 months Using Same Using less Just started using Using more N/A3 1. Q: And have you used or done any of the following in the last 3 months? If yes, Q: Which best describes when you have done or used each of these items? Possible answers: “just started using since COVID-19 started”; “I have not used in the last 3 months”; “I have used in the last 3 months at the same rate as before”; “I have used this more in the past 3 month than before”; “I have used this less in the past 3 months than before.” 2. Q: Compared to now, will you do or use the following more, less, or not at all, once the coronavirus (COVID-19) ) crisis subsides (ie, once there is herd immunity)? Possible answers: “will stop this”; ”will reduce this”; “will keep doing what I am doing now”; “will increase this.” Number indicates respondents who chose “will keep doing what I am doing now” and “will increase this” among new or increased users. Omnichannel is ascendant | Current as of March 2022
  • 17. McKinsey & Company 17 Consumers have acquired at-home alternatives to out-of-home activities, such as telemedicine, fitness, and virtual hangouts Source: McKinsey & Company COVID-19 Australia Consumer Pulse Survey, 3/16–3/25/2022, n = 1,004, sampled and weighted to match the Australia general population 18+ years 36 Watching online gaming 15 12 31 36 Online personal training, fitness 19 7 13 22 Wellness app 23 27 35 10 29 45 27 35 10 19 Restaurant food delivery 37 33 5 26 Digital workout bike or machine 16 39 14 9 Telemedicine for physical health care Virtual hangouts and video chats for personal use Meal kit delivery 5 40 43 5 40 39 9 12 Grocery delivery 14 54 Video conferencing for professional use 5 8 28 Online streaming 9 39 44 38 17 36 8 28 Telemedicine for mental health care 34 42 61 16 9 45 39 Playing online gaming 38 31 21 Remote learning for myself 27 15 32 Used TikTok 33 49 6 12 27 9 3 Used social media Remote learning for my kids 82 88 76 45 68 81 87 67 51 71 73 52 58 60 72 75 89 Intent to continue2 Which best describes when you have done or used each of these items?1 % of respondents who have used in the last 3 months Just started using Using less Using same Using more 1. Q: Have you used or done any of the following since the coronavirus (COVID-19) crisis started? If yes, Q: Which best describes when you have done or used each of these items? Possible answers: “just started using since COVID-19 started”; “using more since COVID-19 started”; “using about the same since COVID-19 started”; “using less since COVID-19 started.” 2. Q: Compared to now, will you do or use the following more, less, or not at all, once the coronavirus (COVID-19) crisis subsides (ie, once there is herd immunity)? Possible answers: “will stop this”; ”will reduce this”; “will keep doing what I am doing now”; “will increase this.” Number indicates respondents who chose “will keep doing what I am doing now” and “will increase this” among new or increased users. Omnichannel is ascendant | Current as of March 2022
  • 18. McKinsey & Company 18 −20 −30 −50 −80 −40 −70 −60 −10 0 10 20 30 Apr 10 Apr 3, 2020 Apr 24 May 8 June 19 July 17 Sept 4 Mar 16, 2022 Expected spending per category over the next 2–3 months vs usual1 Net intent2 Net intent to spend is increasing in discretionary and out-of-home categories Groceries Household supplies Fitness and wellness Consumer electronics Skin care and makeup ​Personal-care products Apparel Out-of-home entertainment Domestic flights International flights 1. Q: Over the next 2–3 months, do you expect that you will spend more, about the same, or less money on these categories than usual? Figures may not sum to 100% because of rounding. 2. Net intent is calculated by subtracting the % of respondents stating they expect to decrease spending from the % of respondents stating they expect to increase spending. Source: McKinsey & Company COVID-19 Australia Consumer Pulse Survey, 3/16–3/25/2022, n = 1,004; 9/4–9/7/2020, n = 814; 7/17–7/19/2020, n = 798; 6/19–6/21/2020, n = 799; 5/8–5/11/2020, n = 704; 4/24–4/26/2020, n = 585; 4/10–4/13/2020, n = 640; 4/3–4/5//2020, n = 669, sampled and weighted to match the Australia general population 18+ years Partial recovery of out-of-home spend | Current as of March 2022
  • 19. McKinsey & Company 19 Consumers report negative spending net intent, but discretionary and out-of-home categories have bounced back since last survey Net intent >1 Net intent −15 to 0 Net intent: < −15 12 26 33 27 33 33 35 33 47 41 22 22 36 31 23 31 35 16 11 13 10 13 12 11 12 22 16 12 11 17 16 18 15 Alcohol Groceries Tobacco products Skin care and makeup Apparel Food takeout and delivery Quick-service restaurant Restaurant Footwear Jewelry Accessories 10 Toys and baby Kitchen and dining Home improvement, garden Household supplies Personal-care products Home and furniture Sports and outdoors 10 10 Decrease Stay the same Increase 7 12 11 21 37 27 20 21 17 9 26 34 19 21 26 30 35 31 19 16 13 8 16 24 14 21 13 58 21 18 31 20 28 27 22 17 Consumer electronics Pet food and supplies Personal-care services Pet care services Vitamins and OTC medicine Out-of-home entertainment Entertainment at home Cruises Books/magazines/newspapers Fitness and wellness Gasoline Vehicles Short-term home rentals Travel by car Adventures and tours International flights Hotel/resort stays Domestic flights Net intent2 2 −13 −21 −3 −6 0 −4 49 −16 12 −1 2 −3 −13 4 −5 1. Q: Over the next 2–3 months, do you expect that you will spend more, about the same, or less money on these categories than usual? Figures may not sum to 100% because of rounding. 2. Net intent is calculated by subtracting the % of respondents stating they expect to decrease spending from the % of respondents stating they expect to increase spending. 3. Data not available or insufficient sample (n < 50) in Sept 2020 survey. 19 4 −5 2 4 12 16 12 6 8 N/A3 10 13 15 13 N/A3 N/A3 N/A3 Change since last survey Change since last survey 12 N/A3 14 2 7 15 22 17 23 21 66 35 19 29 N/A3 28 47 27 −14 17 Net intent2 −37 23 0 6 −19 −10 −22 −14 −23 −20 −23 −22 −29 2 −11 −15 −5 −16 Source: McKinsey & Company COVID-19 Australia Consumer Pulse Survey, 3/16–3/25/2022, n = 1,004; 9/4–9/7/2020, n = 814, sampled and weighted to match the Australia general population 18+ years Expected spending per category over the next 2–3 months vs usual1 % of respondents Partial recovery of out-of-home spend | Current as of March 2022
  • 20. McKinsey & Company 20 Vaccinated consumers plan to increase spending more than those unlikely to get vaccinated, especially in out-of-home categories 1. Net intent is calculated by subtracting the % of respondents stating they expect to decrease spending from the % of respondents stating they expect to increase spending. 2. Q: Over the next 2–3 months, do you expect that you will spend more, about the same, or less money on these categories than usual? −3 percentage points Likelihood of vaccinated vs unvaccinated people to spend For selected categories Net intent1 for expected spending per category over the next 2–3 months vs usual2 Unlikely Cautious Interested Vaccinated Groceries Food takeout and delivery Restaurant Quick-service restaurant Home decor Home and garden Personal-care items Fitness and wellness Out-of-home entertainment International flights 21 −31 −61 −46 −4 −6 −6 −84 −53 0 24 −22 −44 −21 25 −20 7 −53 19 0 −35 −21 43 −35 30 34 -15 20 −4 −100 23 −21 −18 −22 −21 −5 3 3 −2 −2 Between −3 and +3 < −3 > +3 Source: McKinsey & Company COVID-19 Australia Consumer Pulse Survey, 3/16–3/25/2022, n = 1,004, sampled and weighted to match the Australia general population 18+ years Partial recovery of out-of-home spend | Current as of March 2022
  • 21. McKinsey & Company 21 Consumers most often say price increases are the main reason for increased spend in a majority of categories 2 3 1 2 5 4 2 7 8 6 3 4 6 5 8 26 39 37 12 10 16 26 22 24 14 8 12 15 33 18 20 15 6 30 20 23 13 14 18 44 28 43 42 50 35 13 46 42 34 35 85 41 39 38 70 72 64 31 49 33 36 34 47 69 17 34 42 51 Personal-care products Personal-care services Food takeout/delivery Groceries Meals at restaurants Meals at quick-serve rest Household supplies Vitamins and supplements Pet food and supplies Pet care services 1 Apparel Skin care and makeup Footwear Accessories Consumer electronics Vehicles Home and decoration Kitchen and dining 0 Increase in income Larger quantity Premium brands/products Increase in price 1. Q: Please indicate the main reason for planning to spend more on the following categories. Reasons for increase in spend1 % of respondents who increased spend Partial recovery of out-of-home spend | Current as of March 2022 Source: McKinsey & Company COVID-19 Australia Consumer Pulse Survey, 3/16–3/25/2022, n = 1,004, sampled and weighted to match the Australia general population 18+ years
  • 22. McKinsey & Company 22 Purchase of smaller quantities due to price increases is the most common reason for decreased spend across all categories 22 17 15 14 13 16 23 15 13 17 18 18 17 16 20 19 17 23 48 47 42 42 44 28 31 32 39 32 36 30 36 37 26 33 36 30 19 14 19 14 17 28 29 28 23 18 12 10 8 21 13 6 17 16 6 21 21 27 19 19 14 19 19 29 30 37 36 26 35 41 25 24 5 1 3 3 7 9 3 6 6 4 4 5 3 6 1 5 7 Footwear Personal-care services Pet food and supplies Vehicles Groceries Food takeout/delivery Meals at restaurants Personal-care products Meals at quick-serve rest Household supplies Pet care services Vitamins and supplements Apparel Accessories Consumer electronics 0 Home and decoration Kitchen and dining Skin care and makeup Decrease in income Smaller quantity Switch to less expensive Spend more on other categories Reduced price 1. Q: Please indicate the main reason for planning to spend less on the following categories. Reasons for decrease in spend1 % of respondents who decreased spend Partial recovery of out-of-home spend | Current as of March 2022 Source: McKinsey & Company COVID-19 Australia Consumer Pulse Survey, 3/16–3/25/2022, n = 1,004, sampled and weighted to match the Australia general population 18+ years
  • 23. McKinsey & Company 23 49 34 25 32 June 2020 Mar 2022 Sept 2020 July 2020 Overall Vaccinated 41 Unvaccinated 49 43 Gen X Millennials Gen Z 53 Baby boomers3 48 53 Low (<AU $70K) Medium (AU $70K–125K) High (>AU $125K) 43 50 52 1. Q: Which best describes when you will regularly return to stores, restaurants, and other out-of-home activities? Chart shows those already participating in these activities. 2. Gen Z are people under 25 years old, millennials are 25–44 years old, Gen X are people 45–54 years old, baby boomers are 55 years old and above. 3. Baby boomers includes silent generation. By generation2 By vaccination adoption By annual income ~53% of Gen Z and Gen X are doing out-of-home activities ~52% of high-income households are doing out-of-home activities ~49% of people who are vaccinated are doing out-of-home activities Consumers engaging in out-of-home activities,1 % of respondents Almost half of Australian consumers say they are engaging in out-of-home activities Source: McKinsey & Company COVID-19 Australia Consumer Pulse Survey, 3/16–3/25/2022, n = 1,004; 9/4–9/7/2020, n = 814; 7/17–7/19/2020, n = 798; 6/19–6/21/2020, n = 799, sampled and weighted to match the Australia general population 18+ years A tentative return to out-of-home activities | Current as of March 2022
  • 24. McKinsey & Company 24 1. Q: Which best describes how you are engaging in each of these activities? 2. Data not available or insufficient sample (n < 30). Social Personal care Entertain- ment 80 98 96 92 78 72 74 47 66 63 69 Use public transportation Travel more than 2 hours by car Work outside my home Shop for non-necessities Shop for groceries/necessities Travel by airplane Go to a shopping mall Use a ride-sharing service Travel by train Stay in a hotel Rent a short-term home Work Shopping Transport/ travel 39 48 6 N/A2 43 N/A2 N/A2 N/A2 N/A2 N/A2 N/A2 49 50 N/A2 38 47 65 58 45 44 50% and above Less than 50% Change >10 pp Change from Sept 2020, percentage points Change from Sept 2020, percentage points Consumers have started engaging in their routine out-of-home activities like going to a mall and shopping for non-necessities Source: McKinsey & Company COVID-19 Australia Consumer Pulse Survey, 3/16–3/25/2022, n = 1,004, sampled and weighted to match the Australia general population 18+ years 79 63 64 62 75 84 75 91 86 Go out for family entertainment Go to the gym or fitness studio Dine in at a restaurant or bar Attend an outdoor event Get together with family Attend an indoor cultural event Visit a crowded outdoor public place Go to a hair or nail salon Get together with friends Out-of-home activities currently engaged in1 % of respondents who said doing this in the same or a modified way A tentative return to out-of-home activities | Current as of March 2022
  • 25. McKinsey & Company 25 1. Q: With the rise of the Omicron variant of COVID-19, how, if at all, has your out-of-home behavior changed? 7 22 19 19 35 45 41 38 34 33 4 High (>AU $125K) Low (<AU $70K) 2 Medium (AU $70K–125K) 10 19 38 40 23 37 29 4 Vaccinated Unvaccinated 21 39 36 4 Overall Engage less Engage more Engage with adjusted behavior Engage same as before omicron By annual income By vaccination status Medium- and high- income consumers are more cautious when going out Nearly 80 percent of vaccinated consumers are engaging less or adjusting their out-of- home activities due to Omicron variant Key findings Adjustments to out-of-home behavior due to prevalence of omicron variant,1 % of respondents Roughly 75 percent of consumers have changed the way they engage in out-of-home activities because of the omicron variant Source: McKinsey & Company COVID-19 Australia Consumer Pulse Survey, 3/16–3/25/2022, n = 1,004, sampled and weighted to match the Australia general population 18+ years A tentative return to out-of-home activities | Current as of March 2022
  • 26. McKinsey & Company 26 1. Q: Which best describes how you are engaging in each of these activities? Possible answers: “Not doing this at all”; “Doing this in the same way as pre-COVID-19, but less often”; “Doing this in a modified way vs. pre-COVID-19”; “Doing this just as much and in the same way as I did pre-COVID-19.” Work Shopping Transport/ travel Social Personal care Entertain- ment Go to a hair or nail salon Go out for family entertainment 22 78 19 Dine indoors at a restaurant or bar 18 15 85 82 Attend an indoor cultural event 19 81 Attend an outdoor event 81 Visit a crowded outdoor public place 29 71 29 71 Go to the gym or fitness studio 28 72 Get together with family 23 77 Get together with friends 67 78 33 39 Use public transportation 61 Work outside my home Shop for groceries/necessities 64 Shop for non-necessities 27 73 Go to a shopping mall 27 73 Travel more than 2 hours by car 36 22 21 79 Use a ride-sharing service 84 79 Travel by airplane 21 79 Rent a short-term home Travel by train 21 79 Stay in a hotel 21 16 Doing less, doing in a modified way Doing as much as and in the same way as pre-COVID-19 Engagement in out-of-home activities1 % of respondents having engaged in activity pre-COVID-19 Depending on the category, about 70 to 80 percent of consumers have modified their behavior when out of home Source: McKinsey & Company COVID-19 Australia Consumer Pulse Survey, 3/16–3/25/2022, n = 1,004, sampled and weighted to match the Australia general population 18+ years A tentative return to out-of-home activities | Current as of March 2022
  • 27. McKinsey & Company 27 Main life events done in the last 12 months as a result of COVID-19,1 % of respondents 21 9 4 9 11 9 7 4 4 3 5 Moved into a bigger home Set up a gym at home Decided to change jobs Worked more from home Renovated/remodeled my home Started homeschooling children Set up a specific work-from-home space Got a new pet at home (eg, dog, cat) Moved into a smaller home Bought a property Sold a property Work/study change Mar 2022 Pet adoption House move Home renovation Investments/ divestments Total,2 % 7 29 8 23 7 1. Q: Which of the following have you done in the last 12 months as a result of the COVID-19 crisis? 2. Total percentage of people who choose option(s) in the category. Even though consumers have increased out-of-home activity, they are still investing in their home environment due to COVID-19 Source: McKinsey & Company COVID-19 Australia Consumer Pulse Survey, 3/16–3/25/2022, n = 1,004, sampled and weighted to match the Australia general population 18+ years A tentative return to out-of-home activities | Current as of March 2022
  • 28. McKinsey & Company 28 Milestones for the Australia population not yet engaging with out-of-home activities1 % of respondents awaiting each milestone before engaging 17 26 14 43 Vaccination coverage Government lifts restrictions Government lifts restrictions and other requirements COVID-19 no longer spreading 51% of people are not currently engaging in ‘normal’ out-of- home activities Vaccination coverage Government lifts restrictions and … 1. Q: Which best describes when you will regularly return to stores, restaurants, and other out-of-home activities? Chart rebased to exclude those already participating in these activities and those who do not deem any of these items important. Figures may not sum to 100% because of rounding. 10% Medical authorities deem safe 8% Stores, restaurants, and other indoor places start taking safety measures 8% I see other people returning 7% Vaccine is widely distributed 4% I have been vaccinated 3% Family member(s) vaccinated Around half of Australian consumers hesitate to return to out-of- home activities until health/social restrictions are completely lifted Source: McKinsey & Company COVID-19 Australia Consumer Pulse Survey, 3/16–3/25/2022, n = 1,004, sampled and weighted to match the Australia general population 18+ years A tentative return to out-of-home activities | Current as of March 2022
  • 29. McKinsey & Company 29 65 46 34 28 17 14 Any new shopping behavior Different brand New digital shopping method3 Private label/store brand Different retailer/store/website New shopping method3 82 −7 86 3 80 −11 74 −8 High (>AU $125,000/year) Gen Z Millennials 73 85 76 50 86 3 62 50 41 50 44 32 32 32 26 42 26 23 29 27 Income cut Generational cut All consumers % of respondents Change from Sept 2020, percentage points Intent to continue behavior2 Between −3 and +3 < −3 > +3 1. Q: Over the past 3 months, which of the following have you done? 35% replied “None of these” 2. Q: Which best describes whether or not you plan to continue with these shopping changes? Possible answers: “will go back to what I did before 3 months ago”; ”will keep doing both this and what I did before 3 months ago”; ”will keep doing this and NOT go back to what I did before 3 months ago.” Intent to continue includes respondents who selected “will keep doing both this and what I did before 3 months ago” and “will keep doing this and NOT go back to what I did before 3 months ago.” 3. “New shopping method” includes curbside pickup and delivery apps. ”New digital shopping method includes downloaded a new app, signed up for a new subscription service. Behaviors since COVID-19 started1 % of respondents Most Australian consumers have tried a different brand or retailer, with higher intent to continue their usage Difference from all respondents, percentage points Source: McKinsey & Company COVID-19 Australia Consumer Pulse Survey, 3/16–3/25/2022, n = 1,004; 9/4–9/7/2020, n = 814, sampled and weighted to match the Australia general population 18+ years Loyalty shake-up continues | Current as of March 2022
  • 30. McKinsey & Company 30 Sixty-five percent of customers experienced stockouts, with nearly 40 percent of those going to a different retailer for the same/similar product 1. Q: Over the last 3 months, have you wanted to buy something and not been able to purchase it because it was out of stock or otherwise not available? 2. Q: The most recent time this happened (when you wanted to buy something and it was not available), what did you do? 35 65 Able to purchase all items Mar 2022 Could not purchase at least 1 item Respondents who planned to purchase something but could not, due to unavailability1 % of respondents 19 19 13 18 31 Waited until the product was available at the same retailer Bought a different brand or similar product at a different retailer Bought the product at a different retailer Bought a different product at the same retailer Did not buy anything All consumers who could not make a planned purchase2 % of respondents Source: McKinsey & Company COVID-19 Australia Consumer Pulse Survey, 3/16–3/25/2022, n = 1,004, sampled and weighted to match the Australia general population 18+ years Loyalty shake-up continues | Current as of March 2022
  • 31. McKinsey & Company 31 Reason for trying a new brand since COVID-19 began1 % of respondents selecting reason in top 3 1. Q: You mentioned you tried a new/different brand than what you normally buy. What were the main reasons that drove this decision? Select up to 3 relevant reasons. “Brand” includes different brand, new private label/store brand. Overarching reason based on % of individual respondents responding to at least 1 reason in the group. 2. Baby boomers includes silent generation. 10 Better shipping, delivery cost 6 35 6 4 5 Shares my values 3 14 10 23 17 Better prices, promotions 4 38 17 10 Cleaner, safer Better value 7 Using eco-friendly ingredients Available where I’m shopping (ie, in-store or online) Larger package sizes Wanted to try a new brand I found Wanted to try a type of product I’ve never tried before Wanted to treat myself Using recyclable packing materials The company treats its employees well Products are in stock Better quality Natural, organic Wanted variety, change from my normal routine 11 Supporting local businesses 16 Novelty Personal choice Purpose-driven Quality/organic Convenience Health/hygiene Availability 30 Value 62 28 23 19 17 19 Baby boomers2 Gen Z/ millennials Gen X 32 41 43 27 39 45 10 1 4 6 3 4 17 16 16 16 23 11 14 5 12 16 6 7 7 8 7 8 2 5 6 1 2 16 29 29 17 8 15 5 7 6 15 7 6 11 8 9 16 21 13 All consumers Between −3 and +3 < −3 > +3 The top reason for a brand switch was value; availability came next for older consumers, and purpose for younger consumers` x Net % of respondents per category Difference from all respondents, percentage points 4 7 1 2 Source: McKinsey & Company COVID-19 Australia Consumer Pulse Survey, 3/16–3/25/2022, n = 1,004, sampled and weighted to match the Australia general population 18+ years Loyalty shake-up continues | Current as of March 2022