identify a new niche
There are more than 25,000,000 people living in Australia today, and it is estimated that there will be more than 27,000,000 by 2022. The Australian market is growing and rich with opportunities. This is the first of five thoughts considering some of those opportunities.
In 2018, more than 5 million Australian residents do not speak English at home.
Three hundred different languages are spoken, 45 of which are indigenous languages.
The Prime Minister may not be correct when he bleats platitudes such as, ‘Australia is the most successful multi-cultural country on earth’. After all, there is no way of measuring this, and even Malcolm’s criterion is unclear. He is, however, right in highlighting the multi-cultural nature of Australia.
Australia is both multi-cultural and multi lingual, and many of the 5 million people who do not speak English at home, struggle to speak it anywhere else. Certainly, many of them are more comfortable using a language other than English.
Then there are tourists and another 7000 people per month who become illegal residents of Australia (each and every month of every year). Many of these people have little, if any, knowledge of English.
Despite this, marketing targeting non-English speakers, or even English speakers who feel more comfortable using another language (New Zealanders for example), a very low percentage of marketing expenditure is devoted to communication in languages other than English.
Then there is the issue of culture. Language reflects culture, and different cultures have been found, in numerous studies, to have different buying patterns and purchase processes. For example, in some cultures, women cannot make a purchase without the permission of a man.
Despite this, there is little evidence that businesses in Australia are investing enough in understanding and addressing the potentially significant opportunities that exist in sub-cultures and among people who do not willingly speak English.
In 2018, identify a new niche
Every year – put the facts ahead of intuition and guesswork.
Sources or core statistics – Ragtrader, Statistica, Buzz Feed, Base, Outback Australia, ABS, CEPAR, Living in Australia, Start-up Daily