High Frequency Consumer Data

Research evidence excerpt

High Frequency Consumer Data

Macquarie Equity Research

10 July 2026

Consumer Staples

AustraliaHigh Frequency Consumer Data

Mixed text messages

Caleb Ajay

Key Points Wheatley Mariswamy

• Electronics and Pharmacy momentum has continued over 2Q CY26.

• Furniture and Alcohol key laggards. We see little upside given housing James Greg

factors and pricing pressure, respectively, with further slowing likely. Wilson Dring

• Key picks: SIG (Health & Beauty); JBH (EOFY momentum; Cost control).

Data points negatively for EDV (lower sales/competition). Figure 1 - Pharma remains in double-

digit growth, Electronics improving

Spend per card vs. pcp (%)

20%• Our High Frequency Consumer Data series is proprietary and provides

a sample of consumer spending habits on a weekly basis. The sample is 15%10%

weighted towards Sydney and Melbourne and may not be representative 5%

of overall spending in Australia. The data has not been adjusted for -%

consumers switching preferences between cash and card payments and, (10%)(5%)

being real-time in nature, may not fully reflect cancelled transactions,

refunds, reversals, etc. Please note that as of Jul-23, the underlying Pharm. Electronics Online On-Prem Groceries DS/DDS Hardware Furn. Off-Prem

dataset has been expanded. Alc. Alc.

• The good. Electronics (JBH/HVN) saw continued momentum from 1Q26 2Q26

the prior month, indicating a strong EOFY period, signalling category Source: Macquarie Research, July 2026

resilience despite macro headwinds. With the receipt of June numbers,

Figure 2 - Consumer Electronics we lift conviction in stronger momentum. Pharmacy (SIG) growth was taking share again

steady, delivering double-digit growth which we see as being supported

by Health & Beauty trends (incl. GLP-1s, supplements, cosmetics etc.).