2020 Global Insights Report – Wave 1

2020 Global Insights Report – Wave 1

The COVID-19 pandemic created a global shift in the volume of online activity and experiences over the past several months. Not only are consumers increasing their usage of mobile and digital channels to bank, shop, work and socialise — and anticipating more of the same in the coming months — they’re closely watching how businesses respond to their needs.

 

Between late June and early July of this year, Experian surveyed 3,000 consumers and 900 businesses to explore the shifts in consumer behavior and business strategy pre- and post-COVID-19.

 

More than half of businesses surveyed believe their operational processes have mostly or completely recovered since COVID-19 began. However, many consumers fear that a second wave of COVID-19 will further deplete their already strained finances. They are looking to businesses for reassurance as they shift their behaviours by:

  • Reducing discretionary spending
  • Building up emergency savings
  • Tapping into financial reserves
  • Increasing online spending

Moving forward, businesses are focusing on short-term investments in security, managing credit risk with artificial intelligence, and increasing online customer engagement.

 

Download the full report to get all of the insights into global business and consumer needs and priorities

Read full article

Experian

By Experian 09/15/2020

Experian

By Experian 09/15/2020

Read now

Related Articles

Singapore SMEs’ Road to Recovery: Adopting Alternative SME Credit Scores to Improve Speed and Accuracy of Credit Underwriting for the Underbanked
Singapore SMEs’ Road to Recovery: Adopting Alternative SME Credit Scores to Improve Speed and Accuracy of Credit Underwriting for the Underbanked

Experian’s SME Network Score is one credit risk scorecard developed to address the issue of the lack of rating models for thin-file micro-SMEs.

Learn more
Is It Time to Rethink Your Credit Risk Strategies Amid Supply Chain Disruptions?
Is It Time to Rethink Your Credit Risk Strategies Amid Supply Chain Disruptions?

Global supply chain disruptions have exposed critical vulnerabilities in how you interact with suppliers and customers across the globe.

Learn more
Global Identity & Fraud Report – June 2022
Global Identity & Fraud Report – June 2022

With the rise in digitisation and online activity, four in five APAC consumers (80%) expect businesses to take the necessary steps to protect them online, reflecting global trends where nearly…

Learn more
Please fill up the form below to download
  • Download Now

By providing your personal information you agree that we may collect and process it in accordance with our Privacy Statement.