NAB Consumer Insight Report — Blog 2

Centred around the notion of behavioural and industry economics, NAB’s recent weekly report in April consists of describing the implications of consumerist behaviours throughout the turbulent circumstances of the Covid-19 pandemic.

Illustrated by Melbourne’s mismanagement of the domestic transmission (following hotel quarantine’s tarnished record of 3 unsuccessful attempts for reducing transmission), NAB’s report explores the trends of consumer visitation of CBDs, which also provides a comparison of Melbourne’s citizens and the effects of the state’s strict lockdowns.

The extensive report goes further to breakdown consumer behaviours into age demographics, alluding to the distinctive economic impact of each age group and the importance of encouraging economic stimulation from diverse sources.

Isn’t diversification of economic stimulation a prevalent agenda of a big bank?

Perhaps, but in the nation’s best interest of attaining economic prosperity, it is important to acknowledge the influence of banks on reaching these goals, despite having an agenda that could present a conflict of interest. But after recently existing a recession, is it appropriate for further government regulation of the banking sector and ensure that banking interests do not supersede those of the nation?

Here’s a decision we hope the government can rationally evaluate, keeping in mind economic implications and attitudes towards the banking sector.