A Commonwealth Bank study into the spending patterns of Australians on health and fitness reveals the average Aussie spends more than $6,000 a year to ensure they look and feel their best.[1]
The study on the consumer insights website, Signals, found that the overall spend across health, fitness and beauty categories last year in Australia was $2.23 billion[2], with the date revealing interesting insights into how, what and why Australians spend so much on this category.
What are the most relevant findings from the data Australians?[3]
- Overall gym spend has increased by 49% since 2009
- Average spend per person on gyms has decreased by 12%
- Total cosmetic store spend increased by 39% since 2009
- Average spend per customer in cosmetic stores has decreased by 21% since 2009
- Warehouse pharmacies grow by 16% in the past year
- Rise in popularity of online health stores as Aussies search for better deals
What are some of the key findings?
When it comes to spending on health and beauty, there is great variance in what consumers are spending on and what they are paying across Australia.
Australia’s passion for keeping fit has continued to grow, with the popularity of gyms and fitness clubs increasing by a staggering 58% over the last four years as a result of more people going to the gym and more people paying by credit card. This has resulted in an impressive 49% increase in overall spend on memberships. However, in an increasingly competitive fitness market, spend per customer is down by 12% within the sector as new entrants fight to win business.
In a surprising insight, August is the most popular month for Australians signing up to the gym. With dark, wintery conditions, and with summer on the horizon, health-conscious Australians are heading indoors to the gym and preparing for the summer. Supporting this trend, January is the quietest month for gym memberships as Aussies swap the treadmill for the great outdoors.
To help you learn more about the Australian economy, gain unique insights and stay up to date with the spending patterns down under, check out the Signals website at www.commbank.com.au/signals, where you’ll also find a full breakdown of states and categories. You can also download our infographic
For information on moving to Australia visit visit the special Move To Australia microsite on Australian Times or email CommBank’s specialised Migrant Financial Services team at commbankuk@cba.com.au
[1] Average Australian spend refers to the average total spend per person assuming a person was to spend the average amount on all general health and beauty categories (excluding hospital and doctor expenses)
[2]CommBank credit & debit card spend data 2009-2012 adjusted for; trends in all credit & debit consumer spend, retail price index changes and changes to the customer profile of the base. Data is across beauty, fitness and health categories (excluding hospital and doctor expenses)
[3]Advanced Analytics Report: CommBank customer transaction data March 2012 to March 2013
