Australian Telecom Sector: Survey says consumers want more on Mobiles

Research evidence excerpt

Australian Telecom Sector: Survey says consumers want more on Mobiles

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Australian Telecom Sector Equities

AustraliaSurvey says consumers want more on Mobiles

Telecommunications

Lucy Huang

Actual churn still low and NPS up. But first signs of consumers wanting more Analyst

Our latest edition of our UBS Australian Telecom Consumer Survey shows for the first lucy.huang@ubs.com

time in 6 years, rising churn intentions and broad-based declines across all operators and +61-2-9324 2253

key metrics when it comes to brand perceptions. But there is a mis-match, as NPS scores Rachael Tan

have improved for all players and when asked about actual action if operators raise price Analyst

by $4-5/mth, TLS and Vodafone customers increasingly prefer to stay, whilst Optus rachael.tan@ubs.com

customers increasingly look to leave. Nevertheless, we see this years' survey results as +65 6495 7951

showing some early signs of fragility in the mobile price recovery story that has benefited Ailsa Lei

the industry over the last 4yrs. We watch over time whether this starts to translate into Analyst

more meaningful actual churn across the sector as consumer expectations appear to be ailsa.lei@ubs.com

increasing. For now, we remain comfortable that the industry can continue to extract +61-2-9324 3181

CPI-type price rises on Mobiles, but further upside from here is likely more challenging.

TLS and Vodafone screening well on actual churn, Optus lagging

Both TLS and Vodafone have seen an increase in consumers saying they are unlikely to

make any changes to their provider/plan if prices are +$4-5/mth, with a slight reduction

in consumers saying they will leave to a different operator. Optus continues to lag with