Marketing & Acquisition
According to Experian Marketing Services’ Q1 2014 Email Benchmark Report, personalized abandoned cart emails that dynamically show the actual customer cart had 25 percent higher transaction rates than reminder emails that just linked back to the brand’s Website.
According to the latest Experian-Oliver Wyman Market Intelligence Report, mortgage originations for Q1 2014 decreased by 53 percent over Q1 2013 - $235 billion versus $515 billion, respectively.
Experian's most recent Credit Trends study analyzing current debt levels and credit scores in the top 20 major U.S. metropolitan areas found that Detroit, Michigan, residents have the lowest average debt ($23,604) and Dallas, Texas, residents have the highest average debt ($28,240).1
Bankcard originations had a 32 percent year-over-year increase in Q4 2013 ($61 billion to $81 billion).
According to Experian Marketing Services' annual Email Market Study, personalized promotional emails have 29 percent higher unique open rates and 41 percent higher unique click rates than nonpersonalized mailings.
The housing market continues to recover, with mortgage originations increasing 12 percent year over year, moving from $508 billion to $570 billion.
The volume of emails sent by marketers rose nearly 13 percent during the 2013 holiday season compared to 2012.
According to Experian Marketing Services’ holiday peak week analysis, social media proved to be a key research tool for holiday shoppers and a crucial driver of traffic to retail Websites.
With most lenders focused on growth as the top priority for the new year, having the ability to score more consumers is key.
According to the National Christmas Tree Association, approximately 25 to 30 million real Christmas trees are sold annually in the United States versus 8 to 11 million artificial trees.
Data quality should be a priority for retailers at any time of the year, but even more so as the holiday season approaches. According to recent research from Experian, organizations feel that, on average, 25 percent of their data is inaccurate and 12 percent of departmental budgets are wasted due to inaccuracies in contact data. During the 2013 holiday season, consumer spending is expected to increase by at least 11 percent. Retailers need to improve data quality early on in order to ensure that relevant holiday offers reach consumers and to take advantage of the expected increase in consumer spending. View our recent Webinar: Unique insights on consumer credit trends and the impact of consumer behavior on the economic recovery Source: View our data quality infographic: ’Twas the month before the holidays
Personalized credit education can have a measurable impact on a person’s credit score. Consumers who used a personalized consumer credit-education service that offers one-on-one guidance and score simulation improved their average VantageScore® credit score by 21 points (684 to 705) and decreased their credit utilization by 15 percent. Download our recent Webinar: It's a new reality ... and time for a new risk score VantageScore® is a registered trademark of VantageScore Solutions, LLC.
According to a recent Experian analysis of Q2 2013 bankcard trends, bankcard origination volumes increased 21% year-over-year equating to a $12 billion increase in new bankcard limits. The increase was largely driven by the prime and near-prime segments which made up the majority of the $12 billion increase. Download our recent Webinar: It's a new reality...and time for a new risk score.
According to data from Experian's IntelliViewSM, Iowa residents carry the lowest average credit card balance per consumer in the U.S. with an average balance of $2,904, as of the second quarter of 2013. On the other end of the spectrum, the state with the highest average credit card balance is Alaska, where residents carry an average credit card balance of $4,706. New Jersey citizens are close behind with an average balance of $4,523.
Small-business credit conditions strengthened in Q2 2013, lifting the Experian/Moody's Analytics Small Business Credit Index 2.8 points to 111.7 - the highest level since it began tracking. Consumer spending growth was modest, but steady and consumer confidence is at multiyear highs. This is a reassuring signal that consumer spending is unlikely to backtrack in the near future. Furthermore, credit quality improved for every business size, with the total share of delinquent dollars 2.4 percentage points lower than a year ago and at the lowest point on record.