ALDI household expenditure report
How economic pressures and societal trends are impacting grocery spending
This Deloitte Access Economics report for ALDI discusses what the current macroeconomic environment means for households. It looks at what households consider a necessity, how they are spending their stretched budgets, and their views on the future.
2017 is the year of the millionaire in Australia. For the first time, the average Australian household has more than $1 million in net wealth, and this wealth is rising.
But are we the poorest millionaires? Much of the recent gain in wealth has come from rising asset prices. But our incomes have been stagnant; the average household is only slightly better off in terms of income today than they were in 2013. Australian households are increasingly asset rich, but cash poor.
This Deloitte Access Economics report for ALDI discusses what this macroeconomic environment means for households. It looks at what households consider a necessity, how they are spending their stretched budgets, and their views on the future.
Our research into household spending, including a new survey of over 1,000 Australian households, explores the spending patterns of Australian households; how these have evolved over time, what they prefer to spend on, and how confident they are about paying for their daily needs.
Our research finds that 37% of households are now concerned about their ability to pay for their expenses, like bills and household costs, up from 31% two years ago. This is expected to increase to 40% by 2019. It also finds one in three households would fund an increase in day to day living costs by cutting back on grocery spending, by buying less or switching to private labels.
Published: November 2017