Tagged: consumer behavior

Unstable Financial Markets Have US Consumers Keeping Close Eye on Retirement Accounts via Fintech Apps – Report

The unstable financial markets in the United States during the past few years have people keeping a wary eye on their retirement accounts and, increasingly, they are doing so via mobile apps, the team at J.D. Power notes. According to the J.D. Power 2023 U.S…. Read More

Most Consumers Will Switch Providers Due to Fraud Experience or for Enhanced Safeguards – Report

The scams deluge that flourished during the COVID-19 pandemic and proliferates yet today has heightened the public’s fraud anxiety. Rampant fraud is also “reshaping individuals’ expectations about organizations’ obligations to protect them – and the compromises they are willing to make to enhance security” –… Read More

Auto Financing: Consumers Continue to Prefer Shorter-Term Loans, Experian Report Claims

A new Experian report shows consumers are continuing to opt for shorter term loans. In the second quarter of 2023, captives reportedly “regained the lion’s share of total vehicle financing, outpacing banks and credit unions.” According to Experian’s State of the Automotive Finance Market Report:… Read More

Most US Consumers Believe Credit Cards Make It Challenging to Manage Finances, Affirm Report Claims

As Americans face record-high credit card debt and fees, nearly three in four (73%) say credit cards make it challenging to manage their finances, according to a new survey conducted by OnePoll and commissioned by Affirm (NASDAQ: AFRM) the payment network that empowers consumers and… Read More

Most Investors Maintain Same Level of Investment Activity Regardless of Inflation, PeerBerry Report Claims

Inflation does not affect most investors, according to an update from PeerBerry. Available data shows (via an investor survey conducted by their platform last month), that 52% of the surveyed investors “do not change their investment habits and keep their previous investment volumes. 21% of… Read More

Gen Z Consumers Turning to Bankcards, Unsecured Personal Loans As Lenders Tighten Underwriting, Report Reveals

At the mid-point of 2023, Gen Z consumers (born between 1995 and 2005) increasingly find themselves with new access to credit products. The newly released Q2 2023 Quarterly Credit Industry Insights Report (CIIR) from TransUnion (NYSE: TRU) shows “that relative to the consumer population as… Read More

Australia: National Online Spending Declines Despite Pockets of Growth, Airwallex Report Claims

Australians are spending on average nearly $600 less online than they were a year ago, according to the latest Digital Economy Index from global financial platform Airwallex. The Airwallex Quarterly Digital Economy Index “records year-to-date spending per adult, as well as quarter-by-quarter snapshots of the… Read More

Digital Banking: Over 75% of Consumers in Lombardy, Italy’s Most Industrialized Area, Banked Online, Report Claims

Over three-quarters or 75% of the population in Lombardy, Italy’s largest and most industrialized area, banked online this past year, compared with the national average of just 63%, the Bank of Italy recently revealed. Virtual banking in Lombardy has reportedly increased by around 20 percentage… Read More

TransUnion Report: Consumers Now with Negative Equity, As Loan-to-Value Ratios Rise, And Used Vehicle Values Fall

A newly released TransUnion and J.D. Power study shows that while most remain in positive equity positions, potential risk is “increasing among some consumers and lenders.” A return to a vehicle environment “closer to the pre-pandemic norm has allowed for inventories to replenish and for… Read More

Marqeta Study: Consumer Confidence in Embedded Finance, Digital Banking Providers on the Rise

The age of embedded finance and digital financial services has reached an inflection point, “with new payments and shopping solutions now commonplace in the US alongside legacy systems,” according to a new survey from Marqeta (NASDAQ: MQ), the global modern card issuing platform. The company’s… Read More

Experiences Reign “Supreme” During Squeeze on Consumer Finances, According to Paysafe Research

Consumer demand for travel, leisure and other experiences remains strong despite the increase in cost of living according to Paysafe (NYSE: PSFE) research. The payments platform found “that 51% of consumers are still prioritising spend in these areas over other discretionary spending.” The research also… Read More

P2P Investors Showing More Interest in ESG Policies, ‘Green’ Platforms, Robocash Claims

More than half of the surveyed investors pay attention to ESG policies when choosing a P2P platform, according to an update shared by Robo.cash. Almost one in four invest in “green” platforms, the team at Robocash reveals. Robo.cash conducted a survey “among European P2P investors… Read More

UK Savers Prioritize their Pensions Amid Rising Cost of Living, PensionBee Analysis Reveals

Analysis from online pension provider, PensionBee, reveals that pension savers put significantly more money “aside for their retirement at the start of 2023 than they did in the latter part of 2022, despite persistent levels of high inflation.” The average quarterly contribution amount “for female… Read More

TransUnion Report: Consumers Increasingly Turning to Credit, Unsecured Loans to Manage Household Budgets

The newly released Q1 2023 Quarterly Credit Industry Insights Report (CIIR) from TransUnion (NYSE: TRU) shows that in this current economic climate in which inflation remains at elevated levels and interest rates have risen sharply, consumers “are increasingly turning to credit to manage their household… Read More

BNPL: Commerce Enabler Digital River Offers Pay Later Options Afterpay, Clearpay

Digital River, which claims to be an experienced global commerce enabler for established and fast-growing brands, announced it is now offering Afterpay and Clearpay to address growing consumer interest in buy-now-pay-later (BNPL) options. The new offerings “represent an expansion of Digital River’s already robust portfolio… Read More

Consumer Spending: US Retail Sales Up +4.7% YoY in March, Mastercard Report Reveals

According to Mastercard SpendingPulse, which measures in-store and online retail sales across all forms of payment, U.S. retail sales excluding automotive “were up +4.7% year-over-year (YOY) in March.” Mastercard SpendingPulse reportedly “reflects nominal spending and is not adjusted for inflation.” At a national level, while… Read More

Biometric Payments Appeal to Canadian Consumers but Data Security Remains Top of Mind: Report

New technology and innovations in the payment space are “transforming the way Canadian consumers and businesses make and process payments.” According to data from Payments Canada’s annual Canadian Payment Methods and Trends Report, Canadian businesses are “writing fewer and fewer cheques while expanding the range… Read More

Younger UK Consumers Increasingly Comfortable Discussing Money: Survey

Klarna, a global payments provider and shopping service, reveals UK consumers prefer chatting politics, fertility and break-ups than finances, but that’s set to change “with young people feeling increasingly comfortable talking about money with friends and family.” The new findings from Klarna and YouGov’s research… Read More

Fintech Trends Survey: Japanese Consumers to Consider Switching to Bank, Financial App that Gives Insight into their Carbon Footprint

New Zealand-headquartered green fintech firm Cogo conducted a survey to uncover Japanese customer attitudes towards banks and financial apps “helping them drive sustainable lifestyles.” Administered in collaboration with strategic design and sustainability consultancy Fabric, the survey “engaged 1,966 participants who use banking and financial apps… Read More

Majority of Consumers Want Banking Institutions to Tell Them How to Grow, Save Their Money: Report

Sopra Banking Software (SBS), the global fintech company creating a new breed of banks to power financial services in every industry, announced the consumer-focused findings of its second annual Digital Banking Experience (DBX) Report. This year’s report, “produced in partnership with Forrester and IPSOS, reveals… Read More

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