It’s about getting customers in the first place and hoping they stay (with promotions that in this instance are clearly not profitable). Once they’re there, the ease of use and their money already in the account means they’re less likely to move. Good on you for shopping around for the best odds but the majority of people, myself included, can’t be arsed doing that.
Obviously you need to entice customers as the relative new kid to take market share, that’s no different to any industry globally which isn’t a pioneer.
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- Ann: Investor Presentation - Q4 FY20
Ann: Investor Presentation - Q4 FY20, page-38
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