Mahi Sall, Advisor, Fintech-Bank Partnerships, Payments and Financial Inclusivity
January 25th, 2023
Mahi Sall is the CEO & Founder of FinXpair, a Berlin-based strategic advisory boutique firm focu[...]
Black Friday, data concerns, online sales: 5 killer stats
Excellence in Marketing | | Nov 25, 2019
We arm you with all the stats you need for Black Friday and to help you understand the big industry trends.
1. One in four shoppers planning to make a purchase on Black Friday
More than a quarter (26%) of consumers are planning to make a purchase during Black Friday, up from 21% in 2018 and 19% in 2017.
Almost one in five (19%) said they would be encouraged to spend more because Black Friday falls after pay day, while 28% said they plan to do some Christmas shopping – higher than in previous years.
Of those that are planning to buy, 78% said they had intentionally delayed spend. However, 54% said they expect so spend less than last year and only 8% expect the deals to be better.
Source: Retail Economics/Klarna
See: EY Global FinTech Adoption Index finds over half (64%) of global consumers use FinTech
2. Consumers think data collection risks outweigh benefits
The majority (77%) of US adults have heard something about how companies use their personal data and most (81%) think the risks outweigh the benefits.
Almost four in five (79%) are at least somewhat concerned about how much data is collected about them by companies, while seven in 10 feel their personal information is less secure than it was five years ago. Some 62% believe it is impossible to go through daily life without having their data collected by companies.
The survey of 4,272 US adults found that just 6% claim to understand a great deal about what is being done with their data, while 59% understood very little or nothing.
This means they see few personal benefits to data collection. Just 5% of adults say they benefit ‘a great deal’ from data collection, while 23% felt ‘some benefit’. However, 49% feel ‘very little’ benefit and 23% feel ‘none’.
Source: Pew Research Center
3. Monzo the most recommended brand by UK consumers
Digital bank Monzo has the strongest brand advocates of any brand, topping a list of the most recommended brand among Britons with a score of 84.8.
Online money transfer service Transferwise came second on 76.8, followed by phone maker One Plus (74.8), consumer finance website MoneySavingExpert.com (74.6) and green energy company Bulb (74.4). The brand advocacy rankings ask past and present customers of more than 1,500 companies if they’d recommend them to family, friends and colleagues.
See: A major UK lender just launched a digital bank to compete with Monzo and Revolut | Interview with Bó CEO
This year’s rankings are led by finance and fintech brands. Travel brands also perform well, with Universal Studios Orlando scoring 71.3 and Secret Escapes 70.8.
The most improved brand was Celebrity Cruises with an 8.8 improvement in score, followed by Southern Trains, which increased eight points, and Travel Republic (up 7.8).
Source: YouGov BrandIndex
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