Delve into the lives of Canadian digital consumers with Vividata’s latest Summer 2023 SCC/Digital Database

REAL ESTATE

Reaching Real Estate Intenders Amidst a Slowing Market

Just over 1 in 4 Canadian adults (28%) visit real estate websites (such as realtor.ca, zillow.com, and apartments.com) in an average month, with 18%, or 1,542,000, looking to buy or sell real estate in the next 12 months. That marks a 14% decrease among Canadian real estate intenders, where 21% of this segment visited real estate sites a year ago.

Intention to buy a new home (versus resale or a weekend/vacation) also took a hit from last year. In 2022, half of all Canadian real estate intenders planned to purchase a new home. For Summer 2023 however, that number dropped to just 39%.

The top 3 ranking real estate websites visited by Canadian real estate intenders in an average month are realtor.ca (42%), centris.ca (12%), and royallepage.ca (9%). However, there is some variation by region.

Canadian real estate intenders in Quebec, for example, are over 3.5x more likely to use duproprio.com and centris.ca, while those residing in Ontario are over 2.5x more likely to search for properties on housesigma.com. Those living in Atlantic provinces are over 15x more likely to use viewpoint.ca: a site that reaches 19% of Atlantic Canadians compared to the 4% that royallepage.ca does – one of the top 3 nationally. In BC, real estate buyers and sellers are 3x more likely to use Zillow.com, and 6x more likely to use rew.ca.

From a media perspective, Canadian real estate intenders are most likely to notice ads while streaming video (44%), while watching TV (40%), and on social media (42%). Also, 31% agree “I pay attention to ads” on TV or in streamed video (on any screen/device), and 42% agree advertising in TV or streamed video “helps me choose what I buy”.

FIN-TECH: NEO VS KOHO

Innovative Fin-Tech Apps Continue to Gain Ground, Especially With Millennials

Now sitting at 65%, nearly twice as many Canadian adults are banking on their smartphones compared 2018, but not all are using traditional banks, or their banking apps. With innovative high-interest savings accounts and cashback offerings, Canadian Fin-Tech companies Neo Financial and KOHO are starting to gain a real foothold with tech-comfortable consumers in Canada, especially in Quebec (36%), the Prairies (30%), and Ontario (27%).

Since first being reported in SCC/Digital Winter 2023, visitors to the KOHO app have more than doubled to a projected 547,000 in an average month, with nearly half being frequent visitors (using the app in at least 3 of a month’s 4 weeks). Since its first appearance in SCC/Digital Spring 2023, visitors to Neo Financial’s app grew by 15% to a projected 379,000 monthly users, with 43% being frequent visitors.

Typically marketed to Millennials, it’s no surprise that up to 44% of Neo Financial and KOHO app users are under the age 35 (making them up to 43% more likely than the average Canadian 18+), and up to 16% are students (47% more likely).

Neo’s broader set of financial products, including mortgages and investments, shows in their visitor profile as well, with 76% of Neo app visitors living in a home they own, compared to just 67% of KOHO app users. Also, Neo users are more likely than KOHO users to have children at home, and are wealthier, with Neo app visitors holding 25% more in savings and investments than KOHO users.

Home ownership and having children at home does seem to put extra pressure on Neo Financial app users however, with nearly half (47%), agreeing they “feel overwhelmed by financial burdens”, and less than 2 in 5 (38%) believing they are “very good at managing money”.

Being digitally-inclined to begin with, it’s no surprise nearly all Neo Financial and KOHO app users visit social media properties monthly. However, KOHO users spend nearly twice as much time on social media apps and websites in an average week than Neo Financial visitors, with KOHO users averaging 8hrs/week compared to the 4.5hrs/week Neo users spend.

Besides Facebook and Instagram, which are the top social media platforms for KOHO and Neo app users, Tik Tok (67%), X (Twitter, 64%), and Snapchat (54%) round out the top social media sites visited in an average month for KOHO app users, while Neo Financial app users visit X (Twitter, 49%), Reddit (44%) and Pinterest (42%).

INDUSTRY-TRUSTED INSIGHTS 

Benefits of Vividata’s SCC/Digital Database

This new SCC/Digital Database is the twelfth edition from Vividata, allowing subscribers to:

• Match online metrics to real world data
  From leisure activities to consumer habits, to media usage, and more, subscribers can get a complete look at the lives of Canadians with data that delves into their behaviour, both online and off.
• Spark insights with powerful psychographics
  Peek into the mindset of the Canadian consumer with powerful psychographic statements designed to spark insights from topics like finance, health and wellness, society and politics, media use, automotive, and more.
• Segment, target, and inform to greater effect
  Using a groundbreaking, world-class fusion methodology called the “multi-dimensional isotonic fusion”, users see logical profiles and offline behaviours of visitors to over 3,000 reported websites and apps.
• Access, cut, and slice with ease
  Vividata’s new SCC/Digital Database is available through Nielsen and Telmar platforms, allowing subscribers to dig into the data on-demand.