Fri, 26 February 2021 | retail global
Global e-commerce shoppers who are baby boomers have different expectations than younger groups when purchasing online from international brands, according to Global Voices 2021: Cross-Border Shopper Insights, a new global survey from eShopWorld, a leading cross-border e-commerce company. Unlike Gen Zers, who might prioritize the latest buy now, pay later payment options when shopping online internationally, baby boomers tend to look for fundamental best practices like the use of local language and currency and clear refund policies.
“Our data show that baby boomers a... Read More
Thu, 25 February 2021 | housing
Online real estate broker Redfin released new data showing that real estate commissions have changed little since 2012. Redfin's analysis found the typical U.S. home seller in 2020 paid the brokerage representing the buyer a commission equal to 2.7% of the sale price—down only slightly from 2.8% in 2012. However, Redfin expects fees will likely decline in 2021 and beyond as data on agent commissions becomes widely available for the first time.
Real estate websites are now allowed to publish commission rates that homesellers offer to the broker who brings a buyer as the resul... Read More
Thu, 25 February 2021 | investing demographics
The results of the 2020 Ariel-Schwab Black Investor Survey reveal that Black Americans are not benefitting from stock market growth at the same rate as white Americans at similar income levels. The deep-rooted gap in participation between the groups persists, with 55 percent of Black Americans and 71 percent of white Americans reporting stock market investments. This disparity, compounded over time, means that middle-class Black Americans will have less money saved for retirement and less wealth to pass onto the next generation than their white peers.
For more than 20 years, the... Read More
Tue, 23 February 2021 | advice banking
New research released by NTT DATA found that global consumers are divided on their desire for proactive advice from their financial institutions. While there an opportunity for financial institutions to harness the power of AI to build more meaningful connections and experiences with some customers, roughly half don't desire additional advice.
Highlights of the study included:
Tue, 23 February 2021 | pandemic banking
A new survey from KeyBank finds the majority (85%) of Americans say they will use digital tools to conduct some or all financial transactions after the COVID-19 pandemic. However, Millennials and Gen Zers (those under age 35) prefer a combination of digital and in-person banking more often than older Americans, who would rather exclusively use digital banking tools—a surprising discovery for technology-forward younger generations.
More than one quarter (28%) of people under age 35 say they want to create and update a budget with the help of a professional powered by technology... Read More
Tue, 23 February 2021 | fraud cyber
LexisNexis® Risk Solutions reports the evolving threat landscape created new opportunities for cybercriminals around the world, particularly as they targeted new online users. Analysis shows that the under 25 age group is most vulnerable to fraud attacks while the oldest age group is second most vulnerable and loses the most money. The stark risk at both ends of the age spectrum emphasizes the importance for companies to protect both new-to-digital and vulnerable customers when transacting online in 2021. The report also provides a full year review which highlights how 2020 saw an overall ... Read More
News and insights about consumer and demographic financial trends
The Hidden Cost of Idle Cash: What the Vanguard Survey Reveals About America’s Savings Habits
Consumers Growing Cautious Amid Rising Inflation and Economic Uncertainty
US Taxpayers Say Tax Refunds are a Financial Necessity
Consumer Pessimism Grows Despite Stable Long-Term Inflation Expectations
Economic Uncertainty and Inflation Impact Retirement Prospects for Americans
AARP Survey Reveals Alarming Retirement Savings Trends
Hispanic Consumers More Optimistic About Finances
Homeowners Facing Increasing Insurance Rates
U.S. Foreclosures Increase In First Quarter
Consumers Perceive Less Buying Power Despite Lower Inflation