How Australians pay their bills in 2020
Australians should brace themselves for the same economic crunch that followed the 2008 Global Financial Crisis, according to illion’s latest report entitled: How Australians pay their bills.
The two overriding factors likely to impact the Australian economy in coming months are the recent catastrophic bushfire season, and the global pandemic from the coronavirus.
This is already impacting consumer confidence and will slow the economy. As economic risks continue to grow, businesses could find themselves vulnerable to plunging consumer confidence and apathy.
- As the economy slows, consumers will begin to pay their debts late – or not at all – which will have a direct flow-on effect to all businesses and overall job security.
- Read our exclusive report How Australians pay their bills to understand how Australian consumers prioritise and pay bills.
- Gain valuable updates and insights into how businesses can ensure their bills receive the highest priority and earliest payment possible.