The Australian Household Threshold Report
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Powerful insights into Australians’ financial health and their challenges meeting unexpected bills
Australian households' challenges in dealing with unexpected costs and paying out-of-pocket expenses at once is contributing to financial stress, at a time of widespread economic uncertainty.
Insightful new research undertaken by Antenna Strategic Insights, and commissioned by QuickFee, reveals how the average Australian household struggles to pay more than $2,000 for unexpected but necessary services, and is looking for new ways to pay the bills.
The research is the centrepiece of the new Aussie Household Threshold Report, which presents findings from a survey of 1,000 Australian adults across the country. Some key outcomes include:
- More than half would like the option of an instalments style payments solution for unexpected, expensive and necessary purchases
- Across all age categories, 50% of people are concerned about paying an unexpected bill.
- According to state-level data, Victorians are the most worried, with one in every five expressing significant concern.
Understanding affordability
While there are payment choices for consumers looking to buy everything from fashionable t-shirts to the latest gadgets, there is significant demand for solutions that can cover higher-value essential costs while minimising the immediate impact on household budgets.
The Aussie Household Threshold Report provides valuable information for merchants and retailers to help better understand the affordability thresholds where budgets start becoming stretched.
It will also help them understand the kinds of services and products people would like to be able to pay for over time, plus the payment methods they prefer. The report also includes expert commentary from QuickFee Australia MD Bruce Coombes and Tribel Advisory CEO Jayson Walker.
Customer-centered convenience that works with your process.
QuickFee Limited (ASX: QFE) a fast-growing financial technology company has introduced payment plans to allow merchants to offer flexible payment plans to their customers with no interest over four, six, nine, or twelve months, using consumers’ existing credit and debit cards. The company operates in the United States and Australia, and for more information visit qpayplan.wpengine.com
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