Australian Consumers Feeling The Financial Pressure

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New survey data released by ALDI Australia has confirmed what the nation already knows, 71 per cent of Australians have felt financial pressure in the past year, with 84 per cent saying that they have had to dip into their savings to make ends meet. A staggering one in five (20 percent) have experienced a decline of over $5000 in their savings over the last 12 months.

Most Australian households (88 percent) are looking at different ways to manage their budgets as the cost-of-living crisis continues. To reduce spending over the next year, Australians want to switch their utility providers (23 percent) and home loan providers (17 percent). They also want to reduce or cancel streaming services (30 percent) and buy less takeaway or dine-out (49 percent).

Yet, alarmingly, while the vast majority have changed their spending habits in some way, in the last year, only 1 in 10 (nine percent) have changed their supermarket, a mistake that cost them a share of 3.1 billion in savings last year alone.

“It is obvious many Australians are under financial pressure; we know that, and that’s why we have made the fierce commitment not to be beaten on the cost of the weekly shop,” said Simon Padovani-Ginies, Group Director of Customer Interactions, ALDI Australia.

Padovani-Ginies said that ALDI was doing what it has always done: remaining serious about delivering savings to as many customers as possible. He continued that while the supermarket was seeing more customers come through its doors, there was an opportunity for more Australians to experience the savings that come with trying something a little good different.

Australian households are making changes to reduce spending, from creating a strict budget (24 percent) to shopping less frequently (26 percent). Australians are even sacrificing fruits and veg by purchasing less fresh food (16 percent), with a massive 50 percent of shoppers saying they are cutting down on the amount of fresh meat they buy.

“We’re unhappy to see data that says Australians are limiting the number of veggies and proteins they buy because they can’t afford them; that’s not good for Australian families. We are working hard to keep prices as low as possible so our shoppers don’t have to make those sacrifices.”

ALDI’s internal data showed that those who have switched to ALDI are not having to make those compromises. There has been growth in the supermarket’s fresh produce and meat categories, indicating an appetite for more affordable options for the “centre of the plate”, and ALDI delivers that.

Padovani-Ginies stated that ALDI saw more shoppers switching to ALDI and staying with the supermarket as they quickly discovered they could get all their grocery essentials and save without sacrificing their favourite meals.

“Customers might walk through our doors because of our prices, but they stay because of our exceptional quality.”

ALDI’s curated exclusive brand product offering eliminates the need to sift through many product options or rewards and point systems to find the lowest prices. Customers can enjoy an efficient shopping experience with a focused selection of high-quality products that are affordable and of the same quality or better than their branded counterparts.

“Switching to ALDI is simply the smart thing to do if you want to save real dollars. Our exclusive range of products is specially curated to deliver the best quality at the lowest possible price.

Customers don’t have to pick between quality and affordability when they shop at ALDI. Where applicable, Padovani-Ginies said the supermarket compared its products to “well-known” brands before they hit shelves to ensure they taste just as good, if not better, and are always at a great price.

Value for money without compromising on taste and quality is the definition of value, which keeps ALDI customers returning.

“Shopping at ALDI is one of the easiest decisions an Australian can make to keep more money in their pocket. We have remained firm with the lowest prices every day of the year. So, Australians looking to bank real savings on household costs should try shopping at ALDI as their first port of call,” Mr Padovani-Ginies concluded.

ALDI reaffirmed its Price Promise to Australians this year that it will not be beaten on the cost of the weekly shop with supporting shopping data that revealed ALDI delivered $3.1 billion in savings directly to customers in 2022.

ALDI continues to impress with its high-quality product range, as it was recently recognised in the Finder 2023 Customer Satisfaction Awards. Australian shoppers voted ALDI the best supermarket in five categories: beef, chicken, pork, fresh seafood and bakery. The awards keep rolling in, with ALDI winning Canstar’s Supermarket of the Year for the fifth time in 2022.