Margins and Paddings Update

The world in 2018 is defined by data. Vast quantities of information flow through our lives like threads across an elaborate tapestry. On a micro level, these threads bind the business world together. But they also come together to weave a picture of the economy that is colourful, detailed, and uniquely fascinating. At Experian, we process more than 1.5 billion records per year, making us specialists in the processing and understanding of this data – and in making sure it is used for the benefit of consumers and businesses. To share our unique perspective, we’ve created our first ever Spending Power Index. The index looks at the UK’s income and spending habits, including both a detailed view of the present, and insight into longer term trends and the nation’s changing preferences. Giving businesses the bigger picture Stepping back from day-to-day business to look at the whole economy is a chance to identify new opportunities and work out the best ways of adapting to new challenges. The insights we’re providing through the Spending Power Index are designed to fuel that process by offering a view of existing and emerging trends across all demographic segments of the UK economy. What is the Spending Power Index? We’ve defined ‘Spending Power’ as a combination of key factors: Average income growth over time Levels of spending for one demographic group when compared to another Levels of spending as a proportion of incomes These combined factors reveal a wealth of hidden information about income and spending. All these insights have been drawn from Experian’s modelled data using secondary sources such as our ‘Financial Strategy Segmentation’ (FSS) tool. The data for this comes from a range of publicly and commercially available sources, such as the edited Electoral Roll, the UK Census and permission-based market research data taken, for example, from the lifestyle questionnaires many of us complete. New insights and confirming market trends Some of the insights revealed by the index have been surprising, while others fit into social trends that are already well understood. We found some areas of significant shift, such as the movement away from owning possessions and towards spending on life experiences. But we also confirmed some new and fascinating trends such as the emergence of Generation X’s forty somethings as the biggest earners and spenders in the UK economy. Find out more by reading the full Spending Power Index report here.  

In our increasingly digital world, there’s a growing expectation among consumers to only receive personal and relevant content from brands. However, with the proliferation of devices, delivering on this expectation is becoming more of a challenge. It’s more difficult than ever for advertisers to understand their audience and reach them across all marketing channels. But, Experian is here to help. We recently announced our activation partners program –  a natural next step in our commitment to helping brands uncover the right audience segments and deliver advertising campaigns that resonate with consumers. We’re teaming up with marketing technology leaders such as 4C, Adaptly, Brand Networks, Kenshoo, SocialCode and Unified to help brands deliver relevant content. Through the activation partners program, marketers can leverage their own first-party data, third-party data from Experian’s ConsumerViewSM marketing database, or a combination of the two, to build audience segments and optimize campaigns. Then, they can work with any of the marketing technology partners to deliver personalized advertisements to people across any marketing channel — including social media, television and mobile, as well as all major media organizations. This program helps brands unlock the power of data and technology to make the right marketing decisions and better connect with individuals. And with more than 30 years in the advertising business, consumer privacy is at the heart of what we do and the way we work. We remain vigilant when it comes to data security and integrity, including our own commitment to strict standards regarding permissible uses of data. Ultimately, partnerships like this help move the industry forward. We know the advertising industry is evolving and we see this as an opportunity for continuous innovation. As always, our goal is to bring that innovation and power to brands through the solutions—and partnerships—we create.

The ramifications of child identity theft can have a long-lasting impact into adulthood.  According to a recent Experian survey among 500 child identity theft victims who are now adults, one in four survey respondents are still dealing with issues more than 10 years after the fact, and 35% have sought professional help in dealing with related stress, anxiety, anger or depression related to the theft. Child identity theft is also a growing problem; it was reported by Javelin that more than one million children were victims in 2017.  This disturbing trend makes our newest free offer very timely: a free, one-time Child ID Scan that checks if the Social Security number (SSN) for a child (under age 18) is associated with an Experian credit file. If a credit file is found, Experian’s Fraud Resolution team will assist the parent or legal guardian with next steps. Not only do we offer a free opportunity for parents to see if their child might be a fraud victim – but we have added a Family Plan in our IdentityWorks protection product so parents, with a paid membership plan, can include up to 10 children. Newly redesigned last year, our Family Plan offers two membership packages at competitive price points with more features than ever before such as social network monitoring, CreditLock, sex offender registry alerts, and FICO Score updates, among other benefits.  The solution covers minors with ongoing monitoring for the child’s SSN on the dark web, the common name for the burgeoning illegal Internet marketplace where information is often bought and sold among thieves. To help generate nationwide awareness of the serious threat of child identity theft, we are designating September 1 as an official day to address the issue. We hope Child Identity Theft Awareness Day will gain traction as an annual reminder to parents to be vigilant about protecting their children’s information and take root in communities nationwide so we can all participate in the cause. This year, we invite consumers to engage with us; share personal stories in social media or share our content and use the hashtag #StopChildIDTheft. As part of this campaign, Experian is also sponsoring the Identity Theft Resource Center to extend their call center hours September 1 from 12 p.m. to 3 p.m. EDT.  Consumers can call toll-free at 1-888-400-5530 and ask questions about child identity theft. Children are one of the most vulnerable populations, and we urge all parents to take action and use the free Child ID Scan. We are proud of the innovation we have achieved as we continue to leverage the power of data and analytics to protect consumers’ identities.  Parents can visit www.experian.com/childscan for more information.