emerging
Acceptance of New Realities
Consumers are adapting to new financial realities and lifestyle changes brought on by economic hardship and evolving social norms.
Timeframe
near-term
Categories
Impact areas
Detailed Analysis
The economic pressures of recent years are forcing consumers to adapt their spending habits and lifestyle choices. This acceptance encompasses a range of adjustments, from cutting back on non-essential expenses to reconsidering traditional markers of adulthood like homeownership. "43% say they’ve given up dining out/takeaway (including coffee)", illustrates the impact on discretionary spending. This shift in priorities is also influencing long-term decisions, with many accepting that homeownership may be unattainable. "Many Australians are now accepting that they won’t ever own a home. 62% cannot save for a deposit and 49% say they are constantly outpaced by the market."
Context Signals
Compare the Market cost of living survey
Rising housing costs
Changing generational priorities
Edge
Brands that cater to evolving lifestyle choices and offer value-driven alternatives will resonate with this audience.
The rental market presents significant opportunities for innovation and specialized services.
Financial planning and budgeting tools will become increasingly important for consumers navigating new financial realities.
