Melbourne, not Sydney, will be Australia’s biggest city in 40 years’ time. It may be surprising to some, but according to figures released by the ABS earlier this year, Melbourne had the strongest population growth for the 11th consecutive year. Growth in Perth also outstripped Australia’s most densely populated city, Sydney.
But how is this powerful or even useful for marketers? Well, when we hone in on these figures and look at them at a suburb level, we learn more about the people who live there, their lifestyles, preferences, spending potential and family composition – all key details for prioritising and targeting consumers to achieve the greatest ROI.
In looking at these population trends, we delved into the dynamic changes within suburbs, including growth of specific suburbs for the past five years – where young families are moving into new housing estates in suburbs on the outer rings of cities – and the decline in other suburbs.
The suburb which experienced the greatest population growth in the past five years was Mernda in Victoria, which has exploded by 740%. Mernda is located 30km north east of the city and is attractive to young families due to its commuting distance to the CBD, primary schools, as well as its several parks and open spaces.
Specially, we found that this growth is being fuelled by a group, which we’ve called, ‘New Bubs, New Burbs’, as classified by Experian Mosaic. New Bubs, New Burbs are made up of young families, with well-educated parents who were typically born overseas and have children under the age of 15. They live in the newest housing estates in Australia, within commuting distance to major cities and have substantial mortgages. This group, on average, spends over 15 hours a week on the internet.
In addition to Mernda, other the suburbs which experienced the greatest population increase in the past five years were:
- Burnside Heights in Victoria grew by 575%
- Harrison in ACT grew by 539%.
- Derrimut in Victoria grew by 296%.
Conversely, the suburbs which experienced the greatest decline were:
- Boorooma, a suburb of Wagga Wagga in NSW, which declined by 78%
- Mount Elliot on the Central Coast of NSW declined by 72%
- Marysville in Victoria declined by 57%.
Overlaying this Census and proprietary data with profiling tools like Mosaic gives us impressive insights into the groups that make up these changes, as well their preferences.
It enables businesses and government bodies to effectively plan for, and adapt to, society’s changing needs. This may include the construction of housing and shopping centres, building infrastructure, such as transport links and roads, as well as community services including health care, libraries, childcare centres and parks.
For marketers, it means that they can gain a clear sense of household composition in a specific geographic area. This can be effective in understanding the customer landscape, from their behaviour and attitudes to household income and spending power. This deep view allows marketers to plan and build campaigns that will achieve cut through.
And what’s more compelling and satisfying than a customer opening a piece of direct mail or an email because it’s relevant to them? By better having a very clear picture of your customer’s background, you can create more targeted campaigns, better justify campaign spend, and ultimately, become more effective.
If you would like to learn more about the latest release of Mosaic download the latest report.