02 Sep DONE AND DUSTED; REPUTATION KEY FOR CONSUMERS
Welcome to this week’s business and media intelligence update.
DONE AND DUSTED
With the latest earnings season finally over, many investors will likely be relieved – despite record high inflation, climbing interest rates and a tight labour market, many ASX-listed companies turned a profit.
Woodside and BHP shareholders were among the big winners this season, receiving hefty dividends on the back of higher oil, gas and iron ore prices inducing large profits.
The retail sector also proved resilient, with Australians spending a record $34.7 billion at stores in July alone, up $430 million from June. Results from JB Hi-Fi, Harvey Norman and Silk Laser showed strong demand for the latest tech, household goods and a touch of Botox.
REPUTATION KEY FOR CONSUMERS
New research by accounting firm KPMG has confirmed what we always have assumed – your reputation matters.
The research found that the reputation of an organisation plays a crucial role in influencing purchasing decisions, with half of those surveyed saying they would not buy from poor-status companies.
Reliable delivery of goods and services (62 per cent), strong ethical and moral values (57 per cent) and a trustworthy brand (56 per cent) were deemed the most important factors in determining an organisation’s reputation.
The supermarket sector was the only industry believed to have a good reputation by the majority of respondents (70 per cent). Mining, resources and energy retailers, on the other hand, have some work to do.
AUTOMATION ON THE JOBS AGENDA
The Federal Government’s jobs summit this week has renewed conversations around low wage growth, a tight labour market and skilled migration. But new research by an Australian teaching organisation, Pearson, suggests we might want to add artificial intelligence to the agenda.
Historically, much of the conversation around automation has been about robots taking over factory jobs, but analysts have found automation encroaching into office environments, including roles such as receptionists, accountants and personal assistants – roles that are commonly female-dominated.
While Pearson is urging people to upskill so they don’t find themselves out of work, other industry bodies such as CPA Australia believe automation shouldn’t be seen as a threat, but rather, freeing up people to do more complex work. Settle down, Hal…
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