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News.com.au
2 hours ago
- Business
- News.com.au
End of financial year sales drive massive billion dollar spending boom
Savvy shoppers have spent more than $19.2bn online in the last three months in a sign of renewed consumer confidence and anticipated rate relief. The Australia Post eCommerce report shows a massive 7.9 million Australians are now shopping online, with every category tracked seeing a lift in spending. This was led by $4.2bn in online marketplaces, $3.9bn in food and liquor, and $2.7bn spent in on fashion. Australia Post puts the surge in online shopping down to a mix of bargain hunting Aussies targeting the end of financial year, easing cost of living pressures and households expecting further interest rate relief. One of those taking advantage of this sales period was Central Coast mortgage holder and mum Justine Ribgy who said June was always an expensive period for her household. 'We took advantage of those online retail offers more so around household appliances that needed replacing,' she said. 'My husband and I are also in the year being 40 so we had some big gifts there and our children's birthday's fall in June and July, so when we add all that up the (end of financial year sales) is a big savings.' The increase in customer spending came during a period when the Reserve Bank of Australia initially held the cash rate in April, before slashing 25 basis points in May. Households had also expected further relief in July, with a cut widely forecasted at the start of the new financial year. Instead, the central bank held the official cash rate at 3.85 per cent. Ms Ribgy said even though the RBA held the official cash rate in July, it was still a little win for households 'We have had to budget month to month with the cost of living over the last couple of years so a rate cut frees up our discretionary spending. We can be a little less frugal,' she told NewsWire. 'To be honest, even with the hold … it's still positive. It gives us that confidence to loosen the purse strings a little bit.' Despite the increasing overall spend, Australia Post research showed Australians are spending less per transaction with the basket size falling by 1.6 per cent over the previous year. Instead Aussies are buying more often and are turning to marketplaces and department stores to get the cheapest price product. Australian Post general manager customer success Chelsea O'Reilly said Australians were taking their time when it comes to online shopping in order to get the best deal possible. 'Consumers are becoming a whole lot more savvy and strategic in terms of their shopping and we've seen that with an increase in the amount of time they are spending on online marketplaces and department stores,' Ms O'Reilly said. 'They are going there so they can compare brands, pricing and maximise their savings.' Aussies proved their love for a quick bargain, spurring a significant 28 per cent spike in online department store spending during the quarter. Younger Aussies remain the most likely to buy online with Millennials spending $6.9bn online, followed by Gen X at $5.3bn and Gen Z who spent $3.4bn. Ms Reilly said with more Australians choosing to spend their money online, the postal service was investing heavily to keep up with customer demand. 'We are heavily investing in delivering choice and convenience for our customers,' she said.
Yahoo
2 days ago
- Business
- Yahoo
High Growth Tech Stocks in Australia Featuring Life360 and Two Others
The Australian market is experiencing a bullish trend, with the ASX reaching new all-time highs, driven by positive sentiment from Wall Street and expectations of potential rate cuts by the Reserve Bank of Australia in response to rising unemployment. In this environment, high-growth tech stocks like Life360 are garnering attention for their potential to capitalize on favorable economic conditions and investor optimism. Top 10 High Growth Tech Companies In Australia Name Revenue Growth Earnings Growth Growth Rating Pro Medicus 20.17% 22.26% ★★★★★★ Gratifii 42.14% 113.99% ★★★★★★ Echo IQ 49.20% 51.35% ★★★★★★ WiseTech Global 20.46% 23.23% ★★★★★★ BlinkLab 51.57% 52.67% ★★★★★★ Wrkr 55.92% 116.30% ★★★★★★ Pointerra 50.42% 159.12% ★★★★★☆ Immutep 70.84% 42.55% ★★★★★☆ Adveritas 52.34% 88.83% ★★★★★★ SiteMinder 18.77% 55.55% ★★★★★☆ Click here to see the full list of 45 stocks from our ASX High Growth Tech and AI Stocks screener. We'll examine a selection from our screener results. Life360 Simply Wall St Growth Rating: ★★★★★☆ Overview: Life360, Inc. operates a technology platform that provides location services for people, pets, and things across various regions globally, with a market capitalization of A$8.63 billion. Operations: The company generates revenue primarily from its software and programming segment, amounting to $396.88 million. Its technology platform is utilized across North America, Europe, the Middle East, Africa, and other international markets. Despite recent volatility, including its drop from several Russell indexes, Life360 has shown resilience and strategic foresight in the high-growth tech sector. The company's revenue is expected to grow by 16.1% annually, outpacing the Australian market's 5.5%, while earnings are forecasted to surge by an impressive 40.6% per year. This growth trajectory is supported by innovative advertising solutions like Place Ads and Uplift by Life360, which leverage real-world behavior to deliver targeted ads, evidenced by their partnership with Uber that generated over 100,000 rides from airport travelers alone. With $308.9 million raised from a convertible notes offering aimed at funding acquisitions and strategic investments, Life360 is poised to expand its technological footprint and enhance shareholder value through smart capital allocation. Take a closer look at Life360's potential here in our health report. Gain insights into Life360's historical performance by reviewing our past performance report. Codan Simply Wall St Growth Rating: ★★★★☆☆ Overview: Codan Limited specializes in creating technology solutions for various clients, including United Nations organizations, security and military groups, government departments, individuals, and small-scale miners, with a market capitalization of A$3.67 billion. Operations: Codan Limited generates revenue primarily from its Communications and Metal Detection segments, with A$360.27 million and A$224.90 million respectively. The company focuses on providing technology solutions to a diverse range of clients, including governmental and military entities, as well as individuals in niche markets. With a robust 19.4% increase in earnings over the past year, Codan has outperformed the Electronic industry's growth of 8.9%, showcasing its competitive edge in a challenging market. The company's revenue is expected to rise by 10.8% annually, surpassing the broader Australian market's growth rate of 5.6%. This financial vitality is underpinned by Codan's commitment to innovation, as evidenced by its R&D expenses that strategically fuel advancements and efficiency in its operations. Looking ahead, while earnings are projected to grow at a steady rate of 15.76% per year, it's clear that Codan is not just keeping pace but setting the pace in its sector through strategic investments and a keen focus on sustainable growth. Click to explore a detailed breakdown of our findings in Codan's health report. Explore historical data to track Codan's performance over time in our Past section. Xero Simply Wall St Growth Rating: ★★★★☆☆ Overview: Xero Limited offers online business solutions tailored for small businesses and their advisors across Australia, New Zealand, the United Kingdom, North America, and other international markets, with a market capitalization of approximately A$29.80 billion. Operations: The company generates revenue primarily from providing online solutions for small businesses and their advisors, amounting to NZ$2.10 billion. Its operations span Australia, New Zealand, the United Kingdom, North America, and other international markets. Xero's recent performance and strategic initiatives position it as a dynamic entity in the tech landscape, particularly within the software industry where it has outpaced its peers with a 30.4% earnings growth over the past year. This growth is significantly higher than the industry average of 5.6%. The company's commitment to innovation is evident from its R&D spending, which has been crucial in maintaining this momentum; however, specific figures were not disclosed. Additionally, Xero recently enhanced its platform through partnerships and integrations, such as with BILL for streamlined bill payments in the U.S., reflecting a proactive approach to addressing client needs and improving cash flow management for small businesses. These moves not only enhance Xero's service offering but also solidify its standing in competitive markets by adapting to evolving business environments. Click here to discover the nuances of Xero with our detailed analytical health report. Understand Xero's track record by examining our Past report. Next Steps Embark on your investment journey to our 45 ASX High Growth Tech and AI Stocks selection here. Already own these companies? Link your portfolio to Simply Wall St and get alerts on any new warning signs to your stocks. Simply Wall St is a revolutionary app designed for long-term stock investors, it's free and covers every market in the world. Ready For A Different Approach? Explore high-performing small cap companies that haven't yet garnered significant analyst attention. Fuel your portfolio with companies showing strong growth potential, backed by optimistic outlooks both from analysts and management. Find companies with promising cash flow potential yet trading below their fair value. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include ASX:360 ASX:CDA and ASX:XRO. Have feedback on this article? Concerned about the content? with us directly. Alternatively, email editorial-team@
SBS Australia
5 days ago
- Business
- SBS Australia
Unemployment to rise further, Chalmers says, as Trump 'volatility' weighs on employers
Treasurer Jim Chalmers expects unemployment to rise further, arguing the uptick is "unsurprising" amid global uncertainty. Australia's unemployment rate rose to 4.3 per cent in June, according to the latest data by the Australian Bureau of Statistics released on Thursday. Speaking against the backdrop of economic slowdowns and trade tensions as he attends a G20 meeting of finance ministers and central bank governors in South Africa, Chalmers urged Australians to keep perspective. "Unemployment has been really quite outstandingly low for some time now — 4.3 (per cent) in historical terms would be seen as quite a good outcome," he told ABC radio on Friday. "When it comes to this tick up in unemployment, it is modest, it is unwelcome, but it's also unsurprising." He said cost-of-living pressures, coupled with high interest rates, had resulted in a small lift, but overall, the economy "kept ticking over," unlike other countries. Asked whether Treasury anticipated unemployment would rise as high as 5 per cent, he said not quite. "We're not expecting unemployment to go that high. We think somewhere around the middle floors in our current forecast, but obviously there's a lot of uncertainty in that," Chalmers said. However, signs of a tougher jobs market could help set the scene for lower interest rates in the months ahead. Ex-Reserve Bank of Australia economist Luke Hartigan said the June outcome met the central bank's year-end unemployment forecast. "This just adds information to say that some modest reduction in interest rates is warranted," the University of Sydney economics lecturer told the Australian Associated Press. Trump tariffs weighing on employers' minds globally Asked if he believed the policy uncertainty was affecting decisions on whether to hire workers, Chalmers said: "That's certainly the feedback that we get around the place, speaking with CEOs and meeting with company boards. "There is a real sense that this volatility and unpredictability and uncertainty is really a defining and an ongoing feature of the global economy." Over the weekend, Trump announced a 30 per cent tariff on major trading partners Mexico and the European Union, set to kick in on 1 August. Chalmers said the "new normal" requires a "shift" in thinking, with "more collaboration, more secure supply chains and more reliable markets" the best pathway forward. With additional reporting by the Australian Associated Press.
Yahoo
6 days ago
- Business
- Yahoo
Shock jump in unemployment rate
Australia's unemployment rate has shocked expectations and jumped, with less Aussies in the workforce. Fresh figures released by the ABS shows the unemployment rate rose to 4.3 per cent last month, beating expectations of 4.1 per cent. Employment as a whole rose by 2000 people this month, following a fall of 1000 in May, and is up 2 per cent year on year. The rise in unemployment was determined as 33,600 workers became unemployed in the month of June. This was against expectations of 20,000 jobs to be added in the month and the unemployment rate to hold. The underemployment rate also increased to 6 per cent, as 40,200 part time roles were created and 38,200 full time roles were lost from the job market. The employment-to-population ratio remained at 64.2 per cent, and the participation rate, being people who are actively working, rose to 67.1 per cent. Hours worked fell 0.9 per cent in June, following a rise of 1.4 per cent in May. ABS head of labour statistics Sean Crick said: 'This month we saw a decrease in full time hours worked, down 1.3 per cent, associated with a 0.4 per cent fall in full time employees.' Prior to Thursday's official announcement, experts had tipped the unemployment rate to remain at 4.1 per cent, although they did predict a tightening of the jobs market. The Reserve Bank of Australia will be watching the jobless rate ahead of its next meeting, having the dual mandate of employment and controlling inflation. 'I think the focus for the RBA will be ensuring the labour market remains healthy going forward,' NAB's head of Australian economics Gareth Spence said. 'The timing of cuts is not super important. 'It's more about where do they end up.' In a move that shocked markets and disappointed homeowners, the RBA kept the official cash rate at 3.85 per cent during its July 8 meeting. Most economists had already pencilled in a rate cut as well as another cut in August. Inicia sesión para acceder a tu portafolio
SBS Australia
15-07-2025
- Business
- SBS Australia
RBA wants to scrap surcharge fees, says consumers would save $1.2 billion
Australia's central bank wants to remove surcharge fees on both debit and credit cards in a move it expects would save consumers more than $1 billion each year. The Reserve Bank of Australia's (RBA) review of merchant card payment costs recommends the fees be scrapped on EFTPOS, Mastercard and Visa card transactions as they don't help consumers make more efficient payment choices. Lowering the cap on interchange fees paid by businesses — another recommendation of the review — as well would save Australians $1.2 billion. An interchange fee is paid by a business to a customer's card issuer when a transaction occurs. Treasurer Jim Chalmers had said the government was prepared to ban fees on debit card transactions from the start of 2026, but the RBA has included credit cards. Consumers are estimated to pay $1.2 billion in surcharges on payments each year, the equivalent of $60 per card-using adult. Scrapping surcharges would also mean consumers don't need to switch between payment methods to try and avoid a fee, the report stated. RBA governor Michele Bullock said both consumers and businesses benefited from the proposal as fewer Australians make cash payments. Customers would avoid paying surcharges, while businesses would no longer be forced to face high costs of accepting card payments. "We think the time has come to address some of these high costs and inefficiencies in the system," Bullock said. "The payments landscape is always evolving, and it's critically important that we keep pace to ensure it remains safe, competitive and efficient." The RBA proposed removing its own prohibition on "no-surcharge" rules to achieve the scrapping of the fees. The bank expected the card networks would then follow by implementing "no-surcharge" rules based on historical experience and arrangements in other jurisdictions. If that did not occur, the RBA would recommend the federal government legislate to ban surcharge fees. Lowering the cap on interchange fees by businesses is predicted to benefit small businesses the most, because they often pay higher fees. The central bank found small businesses would be $185 million better off under the changes, with 90 per cent of them benefiting. Better transparency achieved by forcing card networks and large acquirers to publish their charging fees has also been recommended, in a bid for better competition between the networks. Bullock predicted the proposals would spark much discussion, particularly among businesses that do surcharge, prompting a six-week consultation period on their plan. Any changes won't kick in until July 2026.
