Leading Brands in Australia’s Credit & Lending Category: Q3 2024 Analysis

Introduction

In the competitive landscape of Australia’s Credit & Lending category, several brands have distinguished themselves with significant audience engagement across their digital platforms. This article explores the performance and trends of three leading brands: Afterpay, Latitude Financial Services, and ClearScore, from Q2 to Q3 2024. Sensor Tower’s comprehensive data, including web and app insights, provides an unparalleled view into these brands’ cross-platform dynamics.

Afterpay

Afterpay's digital presence is robust, featuring its website, afterpay.com, and the Afterpay: Pay over time app.

• Audience Trends: The website witnessed a steady increase in visits, climbing from 4.9M in April to over 7.2M by September. This growth reflects a consistent rise in unique visitors and engagement, with visits per unique visitor peaking at 5 in September.

• App Engagement: The app maintained a stable monthly active user base, hovering around 1.8M to 1.9M. The mobile platform continues to play a significant role in Afterpay's ecosystem.

• Ad Spend & Channels: Afterpay's advertising efforts saw fluctuations, with a noticeable peak in August at over $0.5M monthly, primarily via TikTok and Instagram, which delivered substantial impressions.

Latitude Financial Services

Latitude Financial Services operates through its website, latitudefinancial.com.au, and the Latitude App.

• Audience Trends: The website experienced an upward trend in visits, reaching nearly 2.9M monthly in August before a slight dip in September. Unique visits also saw an increase, with consistent engagement across months.

• App Engagement: The app's monthly active user base grew steadily, peaking in August at approximately 485K users, highlighting a strong mobile presence.

• Ad Spend & Channels: Latitude's advertising investments varied, with a focus on YouTube and Facebook, peaking at over $100K monthly in April, providing significant reach and impressions.

ClearScore

ClearScore's digital strategy includes its website, clearscore.com, and the ClearScore: Credit Score Check app.

• Audience Trends: The website saw a notable spike in visits in August, exceeding 3.4M monthly, before normalizing in September. Unique visits and engagement metrics reflected similar patterns.

• App Engagement: The app's monthly active user count remained relatively stable, slightly declining from 106K in April to around 91K in September.

• Ad Spend & Channels: ClearScore's ad spend peaked in August at nearly $190K monthly, with significant investments in Instagram, which contributed to a high number of impressions.

Conclusion

The performance of Afterpay, Latitude Financial Services, and ClearScore in Q3 2024 underscores the dynamic nature of Australia’s Credit & Lending market. Each brand leverages a unique combination of web and app platforms to engage their audiences effectively. Sensor Tower’s comprehensive data offerings, including Web Insights, App Performance Insights, and Pathmatics, provide unparalleled insights into these brands’ digital strategies, enabling a deeper understanding of cross-platform user behavior.