Australian consumers are reportedly buying less pizza but more weight-loss drugs, according to insights from the August reporting season. Domino's Pizza has reduced its level of discounting in Australia and New Zealand, a move intended to improve profitability for franchisees and investors. This change has coincided with an over 11% drop in revenue from its Australian and New Zealand operations over the past 12 months.
Meanwhile, sales of appetite-altering GLP-1 weight-loss drugs are increasing. Chemist Warehouse data indicates that customers purchasing these drugs, such as Ozempic, are also buying other products like protein powders and beauty items. The shopping basket size for a GLP-1 customer is reportedly 40% larger than for those not buying weight-loss products.
In other consumer trends, the electrification of Australia's car industry is accelerating, partly due to high petrol prices. In July, combined battery-electric and plug-in hybrid sales reached a record 32% of new car sales in Australia, tripling the volume from a year ago.
Additionally, Australia Post reported a pre-tax loss of $108 million for the last financial year, as letter volumes have fallen to 1930s levels. To partially offset costs, the price of a basic stamp will increase by 15 cents to $1.85 on 1 September.