New data reveals consumer concerns about credit card fraud

McLean, VA, 2017-Feb-20 — /EPR Retail News/ — Compromised credit cards and associated data breaches continue to dominate the headlines. In fact, over the past two years (2014-2016), data breaches worldwide rose 46 percent from the year prior (2013), according to creditcard.com.

New data from the Capital One Rewards Card Outlook underscores consumer concerns about this alarming rise in card-related fraud. More than 40 percent (42.3%) of respondents said superior fraud protection was the top or second most important feature when considering a new rewards card in 2017.

According to the Rewards Card Outlook:

–          Nearly 40 percent (39.8%) of rewards card holders would rather keep their cards in a mobile wallet. Millennials are even more eager to adopt this technology (58%).

–          Digital wallets are of particular importance since 39 percent of survey respondents thought they lost or misplaced their credit card this past year.

–          Nearly 13 percent (12.9%) actually lost their credit card in 2016 and nearly 25 percent (24.1%) had to get a new credit card issued due to fraudulent activity.

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Accenture: Retailers and consumer packaged goods companies must improve their understanding of the millennial generation in Asia

Accenture: Retailers and consumer packaged goods companies must improve their understanding of the millennial generation in Asia
Accenture: Retailers and consumer packaged goods companies must improve their understanding of the millennial generation in Asia

 

SINGAPORE, 2016-Sep-07 — /EPR Retail News/ — Retailers and consumer packaged goods (CPG) companies must improve their understanding of the millennial generation in Asia, according to Accenture, with millennials set to dominate the consumer market in the region.

Looking at the millennial generation in the region, Accenture analysis from a number of research reports including Accenture Adaptive Retail and the “The future is now: understanding the new Asian consumer” reveals the extent to which this group is set to dominate spending across the region. This potential impact highlights the need for retailers and CPG companies to embrace digital solutions so they can achieve the connected and integrated shopping experience that millennials are seeking.

The opportunity is here and now
According to Accenture’s analysis e-commerce adoption continues to increase, with sales in the Asia Pacific region expected to rise 300 percent to US$2.6 trillion by 2020. Millennials in Asia will have more spending power than any previous generation – estimated to be US$6 trillion in disposable income by 2020. Millennials represent more than 45 percent of Asia Pacific’s population, and with 60 percent of the world’s millennials expected to live in Asia by 2020, retailers and CPG companies must improve their understanding of this tech-savvy, media-connected generation to capitalize on the huge opportunity and capture this powerful customer segment.

Speaking at the Accenture World of ME showcase at the Millennial 20/20 summit in Singapore, Teo Correia, senior managing director in Accenture’s Consumer Goods and Services practice, said, “Digital is transforming the industry globally by empowering customers with more choices, insights and control. Millennials expect easy and delightful experiences that are tailored to their interests and lifestyles. They are more difficult to predict, increasingly segmented, and devoted to powerful brands and engaging shopping experiences. To win their loyalty, it is imperative for brands to keep it simple but make it personal using data-driven applications.”

Millennials are shopping on the go and demanding more
Consumers are increasingly embracing digital technology and services as part of their everyday life. Today, Asia accounts for the largest number of smartphone users globally at over 50 percent. Within the region, Singapore and Australia have the highest smartphone penetration globally at over 80 percent. Meanwhile, millennials in the region spend an average of 2.8 hours per day (or 42.5 days per year) on their smartphones, and over 40 percent of millennials have shopped via their smartphone.

Accenture’s analysis suggests that millennials are more open to receiving advice than other customer segments. Retailers and CPG companies are trying to meet this generational need through personalization – but must ensure their methods are acceptable to consumers. For example, in China and Japan:

  • Sixty percent of millennials surveyed, compared to 47 percent of consumers overall, are comfortable with giving retailers access to their information in exchange for more personalized experiences.
  • In stores, 77 percent of millennials approve of items being automatically discounted for loyalty points and discounts, yet only 37 percent were interested in sales associates asking about their recent purchases.
  • Sixty-one percent of this group wants promotions sent to them online for items they are considering.

“We see successful brands ramping up their data and analytics capabilities to enable personalised customer experiences and pricing based on loyalty, purchase history, and demographics,” added Correia. “They are increasingly utilizing predictive analytics to provide personalized service offerings, and taking advantage of location-based services to embed themselves within customer lifestyles. The key to success is communication with the customer on every level. The customer has to have a satisfying brand experience from the very beginning of the experience to the end.”

Even buying a car is a new experience
In an upcoming research report by Accenture on the automotive retail market, millennial car buyers indicate they are more likely to be seeking excellent customer experience than other groups. In China millennials have a strong affinity to the car-maker’s flagship dealership, with 40 percent of millennials preferring this buying format. In addition, Accenture’s research has found that millennials want digital advice but at the same time seek personal interaction. Finally, when buying a car, millennials don’t want to wait for their purchase once they have decided on a model to buy, with 87 percent of Chinese millennials ranking “immediate availability” of the desired model after configuration as important in the buying process.

Digital solutions for a digitally empowered generation
At the Millennial 20/20 summit, Accenture is staging The World of ME, a pop-up concept store of the near-future, which demonstrates some of the most innovative products, services and experiences in the consumer retail sector that Accenture believes will impact the Asia Pacific region. It examines the evolving relationship between millennials and retailers, featuring start-ups from around the globe.

“The key challenge today is ‘digital innovation at speed’ and at Accenture, we believe that start-ups and big brands have something to admire in each other and to learn from each other,” continued Correia. “The pace of change has increased and in a world where new markets and services are created almost overnight, connecting and collaborating to enhance their operations, services and business to better serve their customers will separate winning retailers from the laggards.”

Methodology
Accenture surveyed more than 10,000 consumers across 13 countries for the Adaptive Retail Research report. As part of the study Accenture drew out 746 millennial respondents who shopped online and in stores during the last three months of 2015 in China and Japan. Sourced from panel data, survey respondents were vetted by ESOMAR, which adheres to strict international guidelines for market research. The sample of shoppers came from seven equally weighted sectors: apparel; consumer electronics; department stores; discount, mass, and hypermarket stores; grocery stores; drug stores; and home improvement outlets. The survey’s respondents represent a range of gender, generation, household income level and place of residence. The survey screened all shoppers for regular Internet and smartphone use and has a 95 percent confidence level with a margin of error of plus or minus 3.6 percent.

Accenture also carried out a range of qualitative and quantitative research for “The future is now: understanding the new Asian consumer” report. It included the creation of “online consumer communities” across China, Indonesia and Singapore to better understand e-commerce preferences, pain-points, and motivations in relation consumer goods and services purchases. The communities were active from December 2015 to January 2016. In addition, Accenture hosted interviews with a sample of senior level executives with a strong exposure to the CPG industry. and desk research was used to complement this.

About Accenture
Accenture is a leading global professional services company, providing a broad range of services and solutions in strategy, consulting, digital, technology and operations. Combining unmatched experience and specialized skills across more than 40 industries and all business functions – underpinned by the world’s largest delivery network – Accenture works at the intersection of business and technology to help clients improve their performance and create sustainable value for their stakeholders. With more than 375,000 people serving clients in more than 120 countries, Accenture drives innovation to improve the way the world works and lives. Visit us at www.accenture.com.

Contact:

Caroline Douglas
Accenture
+ 35 3 87 680 0074
caroline.douglas@accenture.com

Source: Accenture

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NACS survey: Overall consumer optimism about the U.S. economy increased three points to 47% in July

ALEXANDRIA, Va., 2016-Jul-14 — /EPR Retail News/ — Consumer optimism increased to its highest level since March as gas prices reversed a four-month climb and dropped 12 cents per gallon last month, according to the latest national consumer survey released by the National Association of Convenience Stores (NACS).

Overall consumer optimism about the U.S. economy increased three points to 47% in July, but there were significant demographic variations. Six in 10 younger consumers (60%) ages 18–34 say that they are optimistic, compared to only 37% of those ages 50 or older.

Gas prices remain much lower than they have been in recent summers. This month’s reported price of $2.26 per gallon is 53 cents lower than the reported price of $2.79 in July 2015. As gas prices have declined, U.S. fuel consumers are less likely to say that gas prices significantly affect their feelings about the economy. Just one in five (22%) of fuel consumers say gas prices have a “great impact” on their feelings about the economy, the lowest number since NACS began surveying in January 2013.

Not only are consumer less concerned about current prices, they also feel good about future price changes. Only four in 10 (41%) consumers expect gas prices to increase over the next 30 days, the lowest percentage since February. And they say that prices would have to reach an average of $4.71—more than double today’s prices—before they would consider alternatives to driving or significantly reduce the amount that they drive.

The boost in consumer optimism regarding the economy may not immediately translate into a boost for the economy. Only one in five consumers (20%) say they will drive more over the coming month and only one in six consumers (16%) say they will spend more money shopping at all retail locations this month. However, both percentages are in line with historical averages for the month.

Fuel efficiency may also play a role in optimism. Consumers say their vehicle’s average fuel efficiency increased to 25.2 miles per gallon, the highest level since NACS began conducting monthly consumer surveys in 2013. As a result, average miles per dollar—a calculation that examines gas prices related to vehicle fuel efficiency—increased to 11.2 miles per dollar.

“Monthly changes in gas prices clearly affect consumer sentiment. The question is how much any future price drops can push optimism higher at a time when consumers still have broader political concerns, especially as the national conventions loom,” said Jeff Lenard, NACS vice president of strategic industry initiatives.

NACS, which represents the convenience store industry that sells 80% of the gas in the United States, conducts monthly consumer surveys to gauge how gas prices affect broader economic trends. The survey was conducted online by Penn Schoen Berland; 1,101 U.S. adults who purchase fuel for a vehicle such as a car, truck or van at least once per month were surveyed July 5–8, 2016. Summary results are available at nacsonline.com/fuelssurvey.

Founded in 1961 as the National Association of Convenience Stores, NACS (nacsonline.com) is the international association for convenience and fuel retailing. The U.S. convenience store industry, with more than 154,000 stores across the country, conducts 160 million transactions a day, sells 80% of the fuel purchased in the country and had total sales of $575 billion in 2015. NACS has 2,100 retail and 1,700 supplier member companies, which do business in nearly 50 countries.

Contact:

For media interviews/comments contact Jeff Lenard.

Source: NACS

DiscountVouchers.co.uk Introduces £50,000 Facebook Campaign to Help Charity Sport Relief

Top consumer discount codes website www.discountvouchers.co.uk is helping charity Sport Relief this year with a new Facebook campaign which will raise money for the cause. The voucher codes website will donate 10p to the charity for each Facebook fan who signs up to their page before midnight on 21st March 2010, with the donation to go up to £50,000.

All web users are able to join the new Facebook-based campaign by visiting the DiscountVouchers.co.uk Facebook page, and they will subsequently be sent news on the latest discount vouchers from DiscountVouchers.co.uk, including deals from companies like lastminute.com, Tesco, Marks & Spencer, Sky, Argos, First Choice and more.

Simon Terry, managing director of DiscountVouchers.co.uk, says: “Sport Relief is a really worthy cause to give to and thanks to our commitment to donating as much as£50,000 they should really benefit. People need to sign up to help us give though, and it’s the people out there who will determine how much we donate!

“Signing up to this Facebook cause now carries a double incentive, as anyone who joins can be the first to get the very latest news on new money-saving discount codes while helping us, up until midnight on Sunday, contribute to such a worthy cause as Sport Relief.”

Online users who wish to sign up as a Facebook fan can simply visit
http://www.facebook.com/DiscVisc?v=wall&ref=ts#!/DiscVisc?v=wall&ref=ts.

To find out more about DiscountVouchers.co.uk or to see the latest deals visit www.discountvouchers.co.uk.

Via EPR Network
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Savings for Mother’s Day with New Deals from DiscountVouchers.co.uk

Mums can look forward to being spoiled this Mother’s Day thanks to the very latest range of money-off deals on offer from leading consumer bargains site DiscountVouchers.co.uk. The site is home to deals for over 300 leading retailers.

Savings for Mother's Day with New Deals from DiscountVouchers.co.uk

Among the big names featured on the site is Marks & Spencer, with deals like perfect gifts for Mum on Mother’s Day and kids can treat Mum to a nice meal out thanks to 25% off food at 80 Slug & Lettuce restaurants nationwide. If chocolates are one of Mum’s favourites then the kids can enjoy 10% off all orders of £20 or more at Hotel Chocolat.

The children can get Mum some leading name cosmetics and clothes via deals like 25% off in the Debenhams New Season Spectacular and there are high street fashions to be had on a budget too thanks to 50% off in the Dorothy Perkins sale. Further ladies’ clothing features in the new deals with 20% off all beautiful women’s clothing at Jacques Vert.

Mum can be treated to a trip away or a holiday thanks to bargain deals like an exclusive 10% off the lowest prices guaranteed at Hotels.com, and there is accommodation on show in the shape of deals like Premier Inn Hotel Rooms from £29. Booking a summer holiday for Mum can be done too thanks to 10% guaranteed off Summer 2010 online holiday bookings with First Choice Holidays.

DiscountVouchers.co.uk is home to a constantly growing range of vouchers and codes for savings at stores such as Boots, Currys, John Lewis, Sainsbury’s, Lastminute.com, Dorothy Perkins, New Look and more. The website is searchable by retailer name, latest deal and most popular deal, making it easier for customers to find the best value deals in the shortest time.

Via EPR Network
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