Key points in Finder’s Consumer Sentiment Tracker:
- Finder’s Consumer Sentiment Tracker (CST) reveals the average Aussie household spent $194 per week on groceries in May – up $20 a week compared to 12 months prior.
- That’s a whopping $1040 increase per household over 12 months – or $10.2 billion more nationwide based on Australia’s 9.8 million households.
- One-third of Australians are at the shops every few days while more than half (53%) shop once a week.
- Almost 1 in 10 Aussies do a food shop once a fortnight while just 1% can stretch supplies all month. The research found 2% of Australians purchase groceries daily.
- Finder’s CST revealed that 40% of Australians rank groceries as one of their top three most stressful expenses. This is up from 34% in May 2022.
- The research also found Aussies are spending an average of $39 a week on food delivery in May 2023. This is mainly due to younger generations such as Gen Z spending $59 a week, followed by Gen Y at $55 a week.
- Almost all of gen Y and gen Z are somewhat or extremely stressed with their financial situation due to the increased cost of living.
- A 2021 Finder survey revealed 33% of Australians – equivalent to just over 6.4 million people – had started grocery shopping online.
- Of those who grocery shop online, 86% said that it was more efficient than traditional shopping.
In light of the Milkrun buy, Finder’s head of consumer research Graham Cook speaks about the acquisition.
“Fast home delivery is a pandemic shopping habit that has become embedded and consumers are accustomed to the convenience,” says Cook.
“While Milkrun struggled to supply its customer base and return a profit, Woolies have an existing infrastructure of local metro stores and larger regional stores, many of which already offer home delivery,” Cook continues about the power of Woolworths in saving Milkrun’s brand.
“Time will tell if devoted Milkrun customers are satisfied with what the supermarket giant has to offer, but this move may represent the next evolution of the home delivery model,” Cook finishes.
