The Australian mass affluent market offers a large pool of consumers. With a very large asset base, this segment of consumers offers a lot of potential business for providers. The mass affluent segment in Australia tends to be older, with over 75% having combined assets of A$300,000 on average. At the same time this consumer group also tends to be more conservative with their liquidity. Hence this set of consumers are driven by the trust and relationships that are established with their banking providers.
Verdict Financials Mass Affluents: Attitudes and Needs in Australia brief provides an analysis of the mass affluent consumer segment in Australia. It is divided into four short sections, starting with a look at the demographic breakdown of this consumer group. The report then looks into the type of products mass affluents demand, along with their attitudes towards the technology used in banking services today. Finally, the report ends with a look at how mass affluents manage their finances.