Leading Brands in Australia's Credit & Lending Sector: Q2 2024 Overview

Australia's Credit & Lending sector continues to evolve, with leading brands like Afterpay, Latitude Financial Services, and ClearScore showcasing remarkable digital engagement. This article delves into their performance from Q1 to Q2 2024, highlighting key trends and insights.

Afterpay

Afterpay is renowned for its innovative 'buy now, pay later' service, driving significant digital engagement across its platforms.

• Audience Trends: From January to June 2024, afterpay.com consistently attracted over 5M monthly visits, peaking at approximately 5.7M in June. The monthly true audience maintained a steady rise, exceeding 2.7M by June.

• App Engagement: The app saw an increase in monthly active users, starting at 1.6M in January and surpassing 1.9M by June, highlighting a growing preference for mobile experiences.

• Ad Spend & Channels: Afterpay's monthly ad spend varied, with a notable spike in June at over $425K, primarily through platforms like Facebook and Instagram, delivering impressions in the range of 124M.

Latitude Financial Services

Latitude Financial Services offers a range of consumer finance solutions, maintaining a solid digital presence.

• Audience Trends: The website saw fluctuating monthly visits, with a dip in April at around 1.6M visits, recovering to over 2.3M by June. Monthly true audience figures hovered around 480K in June.

• App Engagement: The app's monthly active users remained relatively stable, with numbers close to 370K in June.

• Ad Spend & Channels: Latitude's monthly ad spend peaked in March at approximately $113K, with significant impressions via Facebook and YouTube.

ClearScore

ClearScore provides free credit score checks and financial insights, showing intriguing trends across digital platforms.

• Audience Trends: The website experienced a slight decline in monthly visits, reaching around 1.4M in May, with a monthly true audience of just over 216K in June.

• App Engagement: Active monthly app users remained stable, fluctuating slightly around 100K throughout the quarter.

• Ad Spend & Channels: ClearScore's monthly ad spend varied, with a peak in May at about $147K, driven by Instagram and Facebook.

Conclusion

The competitive landscape of Australia's Credit & Lending sector is underscored by these brands' digital strategies. Sensor Tower's comprehensive data, spanning web and app engagement to advertising spend, provides invaluable insights into these trends. The ability to cross-reference such diverse data sets underscores Sensor Tower's unique position in offering unparalleled market analysis through tools like Web Insights, Pathmatics, and App Performance Insights. Sensor Tower stands as a vital resource for decision-makers aiming to navigate and capitalize on market opportunities effectively.