All posts by Editor
Just how loyal are consumers to a particular make or model of vehicle?
A new Experian Automotive study answers this question by highlighting the loyalty behavior of consumers who got rid of their previous vehicle to purchase a new one.
The analysis showed that, overall, Ford owners had the highest percentage of loyalty when returning to market, with 60.8 percent purchasing another Ford vehicle. Rounding out the top five makes with the highest percentages of loyal consumers were Toyota, Subaru, Kia and Lexus, with 59.1 percent, 57.7 percent, 57.2 percent and 55.9 percent returning to buy another vehicle of the same make.
At Experian, we focus on helping consumers navigate and better understand the world of credit. Recently, we’ve made some changes within our consumer products. We’re excited to share all the developments we’ve been working on – not the least of which is the inclusion of offering our members their FICO® Scores using Experian data. FICO® Scores are used in 90 percent of credit decisions. They’re the credit scores that most consumers recognize as being most relevant. We know this because they told us. Consumers asked us about FICO because a majority of lenders use FICO® Scores as a factor in their credit decisions – and we heard them.
Today, we are excited to announce that Experian has made it onto the Gartner Magic Quadrant for Data Quality Tools.
Black Friday has come and gone, and the holiday shopping season is in full swing. This year, retailers and economic experts alike have high hopes for robust spending and a needed economic boost. And so far the results look promising. On Cyber Monday, alone, the top online retail sites registered 242 million visits, followed closely by Black Friday’s 228 million visits. And according to a new survey from Experian Consumer Services, 36 percent of consumers plan to spend more on gifts this year than they did in 2013.
At Experian, everything we do is about putting insights into action. This entails formulating and analyzing insights that can help both consumers and businesses alike. We sat down with two of Experian’s leading experts, one from the consumer side of the business and another from our marketing services business, to find out more about the key trends that will define this holiday shopping season.
Guy Abramo, President, Experian Consumer Services and Matt Seeley, President, North America, Experian Marketing Services share their thoughts and insights below:
The world of mobile devices is constantly changing—everything is faster, bigger and better, and consumers have become more savvy and discerning about the features and benefits that make their lives more convenient, and in many cases, more manageable.
I use my phone to do everything from simple tasks like checking email or Facebook, to downloading coupons, buying movie and concert tickets, to checking my bank balance and making deposits on the fly (which is such a great feature).
Come and take a look ‘Inside Experian’, a brand new documentary that lifts the lid on our global business - explaining who we are, what we do and how we’re helping people and businesses around the world to protect, manage and make the most of their data. Seen through the eyes of our customers, employees and business leaders, Inside Experian takes a look at our origins -- from London tailors in the early 1800s to rocket scientists -- to breaking new ground as one of the original Big Data pioneers, right through present day where we take a glimpse at what the future holds in store.
Do you already have a plan for your holiday shopping game this year? A recent study commissioned by Experian Consumer Services shows that spending confidence continues to recover, with 11 percent of those surveyed saying they anticipate spending more than they did last year on holiday gifts. Respondents plan to spend an average of $757.57 this year, up from $721.96 in 2013.
Bankcard lending is trending upward, according to the 2014 Experian “State of Credit” report. One in 17 consumers obtained at least one bankcard this year, compared with one in 21 people back in 2013. Consumers now carry an average of 2.18 bankcards apiece (an increase of 4.2 percent), and an average of 1.54 retail cards (a jump of 6.7 percent). In other words, credit availability is on the rise. Can we do it smarter this time?
Experian unveiled its fifth annual State of Credit report today, which provides a snapshot of consumers’ credit scores broken out nationally and by local market. This year’s findings show that the nation’s average VantageScore has improved by two points since last year, coming in at 666. In the city listings, Mankato, MN takes the top spot with a VantageScore of 706 and Greenwood, MS residents have the lowest score of 609 in the study. While the report gives residents of certain cities reason to celebrate their higher scores, the study isn’t meant make the lower cities sing the blues. These types of data-driven insights are meant to help consumers — to give them a reason to be interested in credit, to want to understand and improve their financial well-being, and to become a more savvy credit user and manager.