Within the financial services industry, understanding the spending behavior of your retail customers is fundamental in evaluating them for fraud risk, credit appetite, product cross-sell opportunities and regulatory compliance, among other potential use-cases.
Pivot Insight, a member of iGoDirect Group, has classified and segmented over $125m in consumer discretionary spend from Australian consumers from cash-back, loyalty, acquisition and staff reward cards. Spend classification outputs are analyzed and spend behaviors modeled to provide powerful brand, purchase segmentation and consumer spend segmentations called “Pivot Cliques”.
These 12 distinct spend behavior profiles can be overlaid to datasets at Statistical Area Level 1 or SA1 (SA1s have an average population of approximately 400 people) providing intelligence on how Australian consumers value brands and how that influences their discretionary spending preferences
For a given SA1 input, the Pivot Insights dataset provides the following attributes:
- Pivot Clique Name – The Clique that most applies to the demographic of this SA1 region based on their discretionary spending behavior
- Description – A high-level description of the types of behaviors shown by individuals in this Pivot Clique
- Spend Categories – The clique has a higher propensity to spend on these categories of goods and services
- Brand Preference – The clique has a higher propensity to spend on these types of brands
- Demographics – Selected demographic indicators for individuals within this Clique, such as their age, income and education
- Lifestyle – Selected lifestyle indicators for individuals within this Clique, such as their employment, origins or living arrangements
- AusPop – Percentage of the Australian Population that is represented by this Clique
- Pull Quote – A ‘pull quote’ for describing the Clique for marketing purposes
Please download the Pivot Insight Clique Guide or reach out to a Demyst team member to learn more about how you can tap into this unique dataset.