Consumer behaviour Archives - Consumers' Federation of Australia

27 June , 2024

Majority of Concessioners Not Aware of Energy Bill Concessions

A new independent report released by the Melbourne Institute: Applied Economic & Social Research at the University of Melbourne reveals that just over 35 percent of Australians have a concession card, yet only one third of them are aware they may be eligible for energy concessions on their bills. The report surveyed 3187 respondents, 1154…

23 May , 2024

Consumer Representative Opportunity – SafeAge Project

The SafeAge Project is a 3-year collaborative academic research project funded by theAustralian Research Council. The project aims to generate contemporary knowledge of the roleof consumer products in injuries and deaths for older Australians. This knowledge benefits: Context:There are significant consequences of unsafe consumer products on population health. Whilstthe government estimates there are around 780…

21 May , 2024

Latest ACCC report finds consumers lack visibility and choice over data collection practices

Consumers generate data in almost all aspects of their lives as many activities that were once anonymous are now subject to detailed data collection, such as restaurants that require customers to order via a QR code and input personal details. The latest Digital Platform Services Inquiry report published today, highlights that consumers are generally unaware how much…

20 May , 2024

ASIC Report Highlights Industry Hardship Failures

Some home loan lenders have made accessing financial assistance so difficult that more than one in three (35%) Australians dropped out of the application process at least once, according to a new ASIC report. The report, Hardship, hard to get help: Lenders fall short in financial hardship support (REP 783) outlines findings from ASIC’s review of 10…

7 May , 2024

Financial Rights Publishes Report on Best Practice in Life Insurer Family Violence Policies

The 2023 Life Insurance Code of Practice (the Life Insurance Code) introduced a requirement for insurers to have family violence policies available online for their customers. For many life insurers this will be the first publicly available written policy indicating how they will support customers experiencing family violence. Family violence – in the form of…

7 May , 2024

US Consumer Protection Body Publishes Research Finding Higher Price Complexity Leads to Consumers Paying More

The United States of America’s Consumer Financial Protection Bureau (CFPB) has published a new report, Price Complexity in Laboratory Markets, which indicates that complex pricings, or costs separated into various sub-prices, are typically more expensive and harder to compare – leading to consumers paying more. Based on the CFPB’s previous research, this increased complexity and…

16 February , 2024

Results of UK Research on Grocery Unit Pricing Released

The results of recent research on grocery unit pricing (pricing per standardised unit of measurement) in the United Kingdom have been released by Competition and Markets Authority. The research involved: The Queensland Consumers Association says that many of the results are very relevant to grocery unit pricing in Australia including that: The CMA’s conclusions from…

16 February , 2024

MoneySmart Data Reveals Gender Disparity in Young Adult’s Financial Stress

New research released by ASIC’s Moneysmart has shed light on the financial concerns of Australian Gen Z women, revealing that they are more likely than Gen Z men to feel stressed and overwhelmed by finances and money.
“These findings demonstrate the importance of empowering young women to move past girl math and take control of their finances. Countless studies have shown financially literate people are better at budgeting and saving, managing mortgages and debt, planning for retirement, and growing their wealth. These behaviours aren’t inherent – they can be learnt at any age. That’s why we need to change the equation on girl math in 2024,”

8 February , 2024

Complaints to TIO Increased for the Quarter But the Yearly Decrease Trend Continues

The latest data from the Telecommunications Industry Ombudsman (TIO) reveals that consumers and small businesses made 14,671 complaints between October and December 2023, an increase of 13.4 percent compared to the previous quarter, but a 17.9 percent decrease compared to the same time last year.

25 January , 2024

CFA Supports Reforms to Merger Approvals

The Consumers Federation of Australia (CFA) and CHOICE have provided a submission to the newly newly established Competition Taskforce on merger approvals. Australia has many markets that are highly concentrated; supermarkets, airlines, banking, telecommunications, energy and insurance are all markets where a few dominant companies provide most Australians with essential products and services. Increasingly, we…

19 January , 2024

Enforcement Technology and Consumer Protection

Enforcement Technology, also known as EnfTech, is technology used in any enforcement capacity for investigation, preventative measures, surveillance, remedies and/or sanctions and there could be a vital role for EnfTech to play in consumer protection. With the advent of the global digital market as the new norm for most consumers the need for consumer protection…

9 January , 2024

Ombudsman Warns of “Unsustainable” Increase as AFCA sees a Record 100,000 Complaints

“The volume of complaints escalated to AFCA has been increasing at an unsustainable rate,” David Locke, the Chief Ombudsman and Chief Executive Officer of the Australian Financial Complaints Authority (AFCA), said.

“Scam-related complaints to AFCA have nearly doubled between 2022 and 2023. They continue to be of great concern to us. We are also seeing the impact of increased interest rates and cost of living pressures, with complaints involving financial hardship also significantly higher,” Mr Locke said.