Media Release

Aussies snub deals on utilities and insurances in favour of non-essentials, according to a new study.

New research released today by comparison service iSelect reveals that most shoppers surveyed (70%) are interested in finding deals on goods and services such as clothing, electronics, and beauty, as this year’s Black Friday and Cyber Monday sales ramp up.¹Source: iSelect commissioned i-Link Research to conduct an online survey between 14th to 19th November 2024. The sample is n=1,500 Australians + an extra n=45 from South Australia. Date is weighted to represent the population by age, state and gender, and is representative of all Australian adults 18+ 

The study also found that more than half of Aussies surveyed (51%) will check out what discounts are on offer during the annual shopping event, which is becoming increasingly popular for people looking to save money ahead of the festive season.²Source: iSelect commissioned i-Link Research to conduct an online survey between 14th to 19th November 2024. The sample is n=1,500 Australians + an extra n=45 from South Australia. Date is weighted to represent the population by age, state and gender, and is representative of all Australian adults 18+ 

iSelect comparison expert Sophie Ryan said it’s understandable why so many Aussies are keen to take advantage of the many discounts currently on offer.

“Many Aussie households have been struggling with cost-of-living pressures for years now, and unfortunately the price of many insurance policies increased again this year. Depending on where you live, any government electricity rebate you may have received could soon run out.” Sophie said.

Sophie added that the survey found only 15% of bargain hunters surveyed would be looking for Black Friday and Cyber Monday offers from utility providers, while just 11% would check out any deals on insurance products, such as health, car, and home and contents.³Source: iSelect commissioned i-Link Research to conduct an online survey between 14th to 19th November 2024. The sample is n=1,500 Australians + an extra n=45 from South Australia. Date is weighted to represent the population by age, state and gender, and is representative of all Australian adults 18+ 

“While it’s great that Aussies can snag bargains before the festive season, it’s unfortunate that so few are interested in deals around utilities and insurances,” Sophie explained.

“Aussies may not realise that many health funds are offering deals too, such as gift cards or waiving waiting periods – coinciding with the Black Friday and Cyber Monday sales.”⁴Sources: https://www.frankhealthinsurance.com.au/ & https://ahm.com.au/offer & https://www.aia.com.au/

Sophie added that the same goes for some of Australia’s major energy companies, offering various incentives right now, such as sign-up credits or bonus rewards points.⁵Sources: https://www.energyaustralia.com.au/ & https://www.originenergy.com.au & https://www.agl.com.au/

“Apart from purchasing discounted Christmas gifts, another great way savvy shoppers could save money is by reviewing common household bills, such as their energy or health insurance plan,” Sophie said.

“In fact, our recent Health Pulse Survey conducted in September found almost three-quarters of Aussies surveyed who switched their private health insurance in the past 12 months saved money, with estimated average savings of $1,151.”⁶Source: iSelect commissioned YouGov Galaxy Pty Ltd conduct a national online survey between 15-21 July 2024. The sample is n= 1,532 Australians aged 18 years and older who have private health insurance and are the main or joint decision maker for their cover. The survey results were weighted by age, gender and region to reflect the latest ABS population estimates.

“Comparing health insurance and energy plans can seem overwhelming, but iSelect’s comparison experts are ready to assist – and you won’t have to battle any shopping centre crowds to enlist their help.”

“Whether it’s your health insurance or energy plan, we can compare your current deals against our range of plans and providers to see if there’s a better deal, saving you time and effort.” “If you’re already getting a great deal, we’ll be honest and tell you to stay put, but if you do decide to switch, we’ll take care of the whole process.”