Experian’s flagship consumer segmentation: Mosaic

Mosaic identifies those who have moved to the regions

New Zealand
New Zealand New Zealand
Consumers make most of their payments by internet banking
  • 74%
    BFSI
  • 70.5%
    TELCO
  • 54.5%
    RETAIL
  • 46.5%
    BFSI
  • 39.6%
    TELCO
  • 40.7%
    RETAIL
  • A higher percentage make payments via internet banking to banks and insurance companies, telcos, and retailers, respectively, compared to the regional average
  • Impact: Anti-fraud capabilities critical to the increased digital transaction frequency and customers’ trust in banks
Australia
Australia Australia
Consumers are most satisfied with the post-fraud service of banks and insurances companies
  • More than 70% satisfaction rate compared to 59.7% on average
  • Impact: Increased trust in BFSIs
Indonesia
Indonesia Indonesia
Consumers that encountered most fraud incidents in the past 12 months
49%
34.7%

AP Average

  • 49.8% have experienced fraud at least once compared to 34.7% on average
  • Impact: Overall anti-fraud capabilities need improvement
Singapore
Singapore Singapore
Consumers have the highest trust towards government
AP Average
  • 75.5% choose government agencies, compared with 51.7% on average
  • Impact: Trust of personal data protection is centered around government agencies
Vietnam
Vietnam Vietnam
Consumers encountered most fraud incidents in retail and telco during the past 12 months
  • 55%
    TELCO
  • 54.5%
    RETAIL
  • 32.8%
    TELCO
  • 35.2%
    RETAIL
  • 55% and 54.5% have experienced fraud at least once in retail and telco, respectively, compared to 32.8% and 35.2% on average
  • Impact: Overall anti-fraud capabilities need improvement
Thailand
Thailand Thailand
Most Thai consumers believe speed and resolution are severely lacking (response/ detection speed toward fraud incidents)
AP Average
  • 60.5% think it is most important, compared to 47.7% on average
  • Impact: Response time as one of key factors to fraud management to retain customers and gain their trust
India
India India as standalone
Consumers have the largest number of shopping app accounts in the region
India
  • Average of three accounts per person
  • Impact: Highest exposure to online fraud
Hong Kong
Hong Kong Hong Kong
The least percentage of consumers with high satisfaction level toward banks and insurance companies’ fraud management
AP Average
  • Only 9.7% are most satisfied compared to 21.1% on average
  • Impact: effective response towards fraud incidents to be improved
China
China China
Consumers are the most tolerant toward submitting and sharing of personal data
AP Average
  • 46.6% compared to the AP average of 27.5% are accepting of sharing personal data of existing accounts with other business entities
  • Impact: higher exposure of data privacy and risk of fraud
alert
Japan Japan as standalone
Consumers most cautious on digital accounts and transactions
50.7% Actively maintain digital accounts’ validity
27% AP Average
45.5% Do not do online bank transfers
13.5% AP Average
  • More than 70% did not encounter fraud incidents in past 12 months, compared to 50% on average
  • Impact: Relatively low risk of fraud

Mosaic Insights – City dwellers relocate to the Regions

Mosaic Insights – City dwellers relocate to the Regions

Many of you will have read national and international media articles describing how people are migrating from densely populated metropolitan areas to less crowded regional communities. Australia is no different, and the recent data refresh of Experian’s Mosaic - our award-winning consumer segmentation platform - highlights how these migration trends are impacting key consumer groups.

 

If you are a Mosaic user then refreshing your Mosaic data should be a top priority so you can understand how migration habits are impacting where and how your customers purchase your goods. If you haven’t used Mosaic before then read more here, or please contact your account manager.

 

Regional trends

 

The major trend confirmed by the recent Mosaic data refresh is that many Australians have moved or are thinking about moving from metropolitan to regional areas.

 

This migration is being led by increases in Mosaic Groups D - Secure Tranquillity, I - Traditional Pursuits and N - Rural Commitment. The chart below shows how some Mosaic groups are seeing regional growth to the tune of 30-40%.

 

These groups have higher levels of affluence than other socio-demographic groups and the change in behaviour is rapidly driving up the median house price in regional areas as well. Proportionally, groups with lower socio-demographic profiles have seen a slight decline.

 

mosaic-city-dwellers-relocate-table-first

 

Metropolitan trends

 

In metropolitan areas there are clear patterns of migration occurring as well. Young families on middle incomes are looking to move toward the suburban outskirts in order to find more space and more amenities.

As more Australians work from home due to the pandemic, the suburban metro areas have become more appealing. Mosaic groups G - Growing Independence, I - Traditional Pursuits, and C - Striving for Status have seen significant growth in metropolitan areas.

We are seeing significant shifts in Australia’s capital cities, as Mosaics such as Group I – Traditional Pursuits, become dominant in areas historically associated with agricultural, industrial use or lower socio economic.

 

mosaic-city-dwellers-relocate-table-second

 

What does this mean for your business?

 

Understanding the current socio-demographic and behavioural make-up of the Australian population is crucial to making strong strategic decisions regarding your business. The migration habits we’ve outlined today may be putting untold pressure on your organisation.

 

If you have a store presence, for example, or run activities in specific geographies you’ll need to understand the latest changes to ensure you remain best placed to serve your customers.

 

The movement of middle and upper-income families to the suburbs and regional areas of the country may also impact your activities. Their need for products such as mortgages, insurance and furniture has not changed (in fact it very well may have increased given their propensity to move), but where you now target these groups may have changed drastically.

 

How you target the right groups for your business needs careful consideration and the very latest consumer information.

 

Mosaic - award-winning consumer segmentation

 

Changing consumer behaviour, such as moving their purchasing online, and the migration habits of many Australians due to the pandemic, has created an unrivalled period of uncertainty for organisations.

 

Ensuring you have the very best consumer segmentation data will help you identify, target and reach those consumers most likely to purchase your products and services.

 

Explore the new Mosaic today and see what can your organisation do to take advantage of the very latest consumer trends.

 

Read full article

Experian

By Experian 02/18/2022

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