Identify 9 unique segments within the over 60's segment

Mosaic Segmentation, target the over 60's

New Zealand
New Zealand New Zealand
Consumers make most of their payments by internet banking
  • 74%
    BFSI
  • 70.5%
    TELCO
  • 54.5%
    RETAIL
  • 46.5%
    BFSI
  • 39.6%
    TELCO
  • 40.7%
    RETAIL
  • A higher percentage make payments via internet banking to banks and insurance companies, telcos, and retailers, respectively, compared to the regional average
  • Impact: Anti-fraud capabilities critical to the increased digital transaction frequency and customers’ trust in banks
Australia
Australia Australia
Consumers are most satisfied with the post-fraud service of banks and insurances companies
  • More than 70% satisfaction rate compared to 59.7% on average
  • Impact: Increased trust in BFSIs
Indonesia
Indonesia Indonesia
Consumers that encountered most fraud incidents in the past 12 months
49%
34.7%

AP Average

  • 49.8% have experienced fraud at least once compared to 34.7% on average
  • Impact: Overall anti-fraud capabilities need improvement
Singapore
Singapore Singapore
Consumers have the highest trust towards government
AP Average
  • 75.5% choose government agencies, compared with 51.7% on average
  • Impact: Trust of personal data protection is centered around government agencies
Vietnam
Vietnam Vietnam
Consumers encountered most fraud incidents in retail and telco during the past 12 months
  • 55%
    TELCO
  • 54.5%
    RETAIL
  • 32.8%
    TELCO
  • 35.2%
    RETAIL
  • 55% and 54.5% have experienced fraud at least once in retail and telco, respectively, compared to 32.8% and 35.2% on average
  • Impact: Overall anti-fraud capabilities need improvement
Thailand
Thailand Thailand
Most Thai consumers believe speed and resolution are severely lacking (response/ detection speed toward fraud incidents)
AP Average
  • 60.5% think it is most important, compared to 47.7% on average
  • Impact: Response time as one of key factors to fraud management to retain customers and gain their trust
India
India India as standalone
Consumers have the largest number of shopping app accounts in the region
India
  • Average of three accounts per person
  • Impact: Highest exposure to online fraud
Hong Kong
Hong Kong Hong Kong
The least percentage of consumers with high satisfaction level toward banks and insurance companies’ fraud management
AP Average
  • Only 9.7% are most satisfied compared to 21.1% on average
  • Impact: effective response towards fraud incidents to be improved
China
China China
Consumers are the most tolerant toward submitting and sharing of personal data
AP Average
  • 46.6% compared to the AP average of 27.5% are accepting of sharing personal data of existing accounts with other business entities
  • Impact: higher exposure of data privacy and risk of fraud
alert
Japan Japan as standalone
Consumers most cautious on digital accounts and transactions
50.7% Actively maintain digital accounts’ validity
27% AP Average
45.5% Do not do online bank transfers
13.5% AP Average
  • More than 70% did not encounter fraud incidents in past 12 months, compared to 50% on average
  • Impact: Relatively low risk of fraud

Silver Spenders

Silver Spenders

Take a look at our first installment of the 5 emerging demographic trends Experian has uncovered with the Silver Spenders.

 

An interesting Australian demographic of which reveals the lifestyle and attitudinal changes in the over 60’s spending.

 

Download Now

 

To learn further information on how Experian can help you, please complete the below form for a consultant to reach out to you.

Read full article

Sound interesting? Follow us for regular, published insights

Experian

By Experian 09/03/2018

twitter google plus linkedin mail

Related Articles

Empowering your data
Empowering your data

When using data to improve decision making, ensure you consider all available data sources before you deploy consumer insights.

Learn more
Being Adaptable
Being Adaptable

Learn more in our insights article about the best segmentation models. How they adapt to lifestyle changes, and maintain themselves as a long-term effective segmentation solution.

Learn more
Experian Mosaic – how consumer classification works and why it’s so powerful
Experian Mosaic – how consumer classification works and why it’s so powerful

Our award-winning, privacy compliant, consumer segmentation solution, Mosaic, powers many of the insights our clients use to drive their marketing and analytics success.

Learn more

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