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.
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.
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.
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.
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