'Eye on Australia' report from Sweeney and Grey provides view of where consumers are at - today

Australians are exiting the recession with a growing sense of optimism.

That’s one of the major findings from the 19th annual ‘Eye on Australia’ report released at the beginning of May.

The ‘Eye on Australia’ report tracks and identifies trends in consumer attitudes across metropolitan and regional areas. It provides detailed insights on how Australians feel about work, life, environment, spending habits and the economy.

The report is jointly put together by agencies Grey Advertising and Sweeney Research. The survey questions were asked in February 2010 and they show some amazing swings since a year earlier. (Whether response would be different now, three months later, is anyone’s guess).

Unemployment and job security concerns have dropped considerably, from 33% in 2009 to just 20%, while the proportion of Australians concerned about the economic outlook is dramatically lower – at just 25% compared with 36% last year.

The report indicates that back in February this year Australians were defiantly optimistic in the face of economic gloom and that as the recession was receding, economic anxieties were receding with it.

Overall, the results show that Australians are largely upbeat about the economy, with fewer financial concerns than a year ago. Personal finance worries decreased from 46% in 2009 to 33% in 2010, while more than half the people questioned say that the economic situation is improving. GFC concerns have halved from 44% to 22%.

The reduction in economic concern is reflected by the ‘satisfaction with life’ responses. Almost half of the respondents said that they were ‘extremely’ or ‘very’ satisfied with life today. And 75% said that they were enjoying their work.

You could probably conclude that the survey answers are indicative of a ‘don’t worry, be happy’ attitude.

However, there is one exception to this overall trend. Twelve months ago, 45% of women aged 45–56 years were ‘extremely’ or ‘very’ satisfied with life. One year on, and that number has fallen to only 31%.

The women in this age group are mostly the ones running established families. While the majority of Aussies are less concerned with their finances, the women in this age bracket (traditionally big shoppers) are still carrying the burden of worry. And it’s not just worry about their own finances; it’s the finances of their elderly parents and their children as well.

More information about the report can be obtained from Grey Advertising, Level 5, 470 St Kilda Road, Melbourne VIC 3004. Phone 03 92081931. www.grey.com.au