10 November, 2017

Study: Working Aussie Mums Rule Family Finances

By B&T Magazine

A new report on Australian working mums from Yahoo7 has revealed the group are 71% more likely to click on digital ads, and 100% more likely to convert to a sale, than the average Australian.

The research also demonstrates the demographic rules the financial roost, making the final purchase decisions instead of their partner across every retail category except automotive (See Figure 1.)

Yahoo7_New report reveals Australian working mums rule family finances_FINAL

Termed ‘Mumfessionals’, the number of Australian mums with children living at home who work full or part time has grown from just one in two in 1991, to 68% of all mothers in 2016.

Stressed and obsessed with saving time, Australian Mumfessionals are 187% more likely to use ‘productivity’ apps than the average Australian, and 243% more likely to use ‘utility’ apps, such as bill paying services, to help organise their lives. In fact, almost two thirds (59%) agree they feel more stressed now than ever before (22% more than the general population), with the study revealing finance, health and time as the three largest stress factors for the group.

Finance

Despite being armed with a higher personal and household income than the average Australian,6 almost three quarters of Australian working mums do not feel financially secure. However, Mumfessionals are also 10% more likely to part with their hard-earned cash for quality items than the average Australian, and are 44% more likely to describe themselves as ‘affluent’.

Health

Three-quarters of working mums state their health and that of their families is a priority, with over half of all Mumfessionals currently trying to lose weight, up 16% from the general population, and 56% avoid unhealthy foods. However, the stress of competing pressures hampers these efforts, with only one in three finding time to exercise regularly.

Time

Australian Mumfessionals are turning to the internet more than the average Australian, with three quarters admitting to accessing the internet several times a day, compared to just 64% of the general population.10 Working mums are also more likely to complete their personal admin during traditional business hours, commonly completing their online banking during mid-morning, and surfing for meal inspiration and finance content in the afternoons (See Figure 2.).

Yahoo7_New report reveals Australian working mums rule family finances_FINAL2

Presenting the findings of the Secret Lives of Mumfessionals study today at the Marketing to Mums Conference in Sydney, Becky Smith, Head of Insights at Yahoo7, said: “Our study of Mumfessionals shows this group is truly trying to have it all, balancing financial, time and health pressures by engaging in the online world. We know Mumfessionals are digitally savvy and highly engaged, so marketers need to tap into this opportunity and use data to win with this audience.”

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