Experian Finds 25 Percent Increase in Online Activity Since Covid-19
The pandemic-accelerated increase in digital transactions is here to stay and businesses must continue to transform their operations as they head into 2022. According to Experian’s latest Global Insights Report, there has been a 25 percent increase in online activity since Covid-19 and that number continues to hold steady.
“For the past 12 months, we've monitored the significant and sustainable shift toward ecommerce and digital financial services,” said Steve Wagner, global managing director of Decision Analytics for Experian. “The increase in digital activity has remained persistent, and consumers are staying online even with the return of physical shopping and banking.”
The study also found that as people begin to spend again consumer loyalty to online businesses is weakening. 61 percent of consumers say they are staying with the same online service provider they used prior to the pandemic. This a decrease of 6 percent from one year ago.
“Dwindling customer loyalty along with heighted customer expectations and increased competition could mean potential revenue loss or gain. Business must find solutions to improve digital engagement and customer acquisition,” added Wagner.
Companies are leveraging advanced technologies to improve the digital customer experience and grow their business including digital credit risk decisioning, passive authentication, artificial intelligence and more. According to our research, 90 percent of companies are investing in business automation, 76 percent are improving or rebuilding their analytics models and 65 percent intend to increase fraud budgets.
To develop the study, Experian interviewed 3,000 consumers and 900 businesses across 10 countries around the world including Australia, Brazil, Germany, India, Italy, Japan, Singapore, Spain, United Kingdom and United States on insights related to consumer and business economic outlooks, financial well-being, online behavior and more. This report is the fourth wave in a longitudinal study exploring the major shifts in consumer behavior and business strategy throughout Covid-19.
Additional findings from the report include:
- Nearly 10 percent of consumers are spending more and putting less away in retirement or emergency savings than a year ago
- Half of consumers (49%) conducted personal banking and payment activities online regularly
- Adoption of AI has risen from 69% to 74% and machine learning from 68% to 73% in one year
- 50 percent of companies are exploring the use of expanded data sources
Download the latest Global Insights Report to learn about more findings from Experian Decision Analytics.
Experian is the world’s leading global information services company. During life’s big moments — from buying a home or a car to sending a child to college to growing a business by connecting with new customers — we empower consumers and our clients to manage their data with confidence. We help individuals to take financial control and access financial services, businesses to make smarter decisions and thrive, lenders to lend more responsibly, and organizations to prevent identity fraud and crime.
We have 17,800 people operating across 44 countries, and every day we’re investing in new technologies, talented people and innovation to help all our clients maximize every opportunity. We are listed on the London Stock Exchange (EXPN) and are a constituent of the FTSE 100 Index.
Experian and the Experian marks used herein are trademarks or registered trademarks of Experian and its affiliates. Other product and company names mentioned herein are the property of their respective owners.
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
Rubenstein Public Relations
1 212 805 3005
Experian Public Relations
1 714 830 3185
About Business Wire
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Seoul Viosys Provides Air Purifier Sterilizers, Which Dramatically Reduce the Risk of COVID-19 Infection, to 300 Small Businesses in Korea for Free3.12.2021 08:59:00 EET | Press release
While Living with COVID-19 campaign has kicked off in earnest, Seoul Viosys Co., Ltd. (KOSDAQ: 092190), a company specializing in optical semiconductors, provided Violeds Air Purifying Sterilizers that can reduce the indoor COVID-19 infection rate by 1/30 to 300 Korean facilities free of charge, with a good intention to support Korean small business owners. In addition, it announced that it would provide the Air Purifying Sterilizer license to the partners who can supply them worldwide. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20211202006063/en/ Air flow analysis while the air purifier sterilizer is running (Graphic: Business Wire) Seoul Viosys conducted an air sterilization experiment based on the study of the Korea Central Disease Control Headquarters and the Korea Institute of Science and Technology (KIST), which found out that opening windows frequently can lower the infection rate. When compared to opening windows a
BeiGene and EUSA Pharma Announce NMPA Approval of SYLVANT® (Siltuximab for Injection) in China for Idiopathic Multicentric Castleman Disease3.12.2021 07:00:00 EET | Press release
BeiGene, Ltd. (NASDAQ:BGNE; HKEX:06160) and EUSA Pharma (UK), Ltd. today announced that the China National Medical Products Administration (NMPA) has approved SYLVANT® (siltuximab for injection) for the treatment of adult patients with multicentric Castleman disease (MCD) who are human immunodeficiency virus (HIV) negative and human herpes virus-8 (HHV-8) negative, also known as idiopathic MCD (iMCD). This disease is a rare, life-threatening, and debilitating condition of the lymph nodes and related tissues. Siltuximab is a monoclonal antibody approved in the United States, European Union, and other countries and regions around the world. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20211202006056/en/ “Today’s approval provides a new treatment for patients in China with this rare systemic disorder,” commented Xiaobin Wu, Ph.D., President, Chief Operating Officer, and General Manager of China at BeiGene. “This approval is our
Bluehole Publishes a Feature Story on China’s Recent Vaping Regulations3.12.2021 06:04:00 EET | Press release
China’s leading vaping media, Bluehole New Consumption, today published a feature story on recent vaping regulation updates in China. Here below is the full article in English: On December 2, 2021, China’s State Tobacco Monopoly Administration issued the draft rules governing e-cigarettes while the regulator has just released the exposure draft of national standards of e-cigarettes on November 30, 2021. Previously, China announced to bring e-cigarettes under tobacco monopoly law on November 26, hence the legal status of e-cigarettes. The recent regulation updates have eliminated the uncertainties about the future of Chinese vaping industry, paving the way for the industry’s sustainable development. According to iiMedia Research Group, the size of Chinese’ e-cigarette market has grown from RMB 550 million (USD 86 million) in 2013 to RMB 8.38 billion (USD 1.31 billion) in 2020, witnessing an eight-year compound annual growth rate of 72.5%. World Health Organization estimates that China h
ST Energy Transition I Ltd. Announces Pricing of $250 Million Initial Public Offering3.12.2021 05:34:00 EET | Press release
ST Energy Transition I Ltd. (the “Company”) announced today the pricing of 25,000,000 Stakeholder Aligned Initial Listing, or SAILSM security, at a price of $10.00 per SAILSM security. The SAILSM securities will be listed on the New York Stock Exchange and trade under the ticker symbol “STET.U” beginning December 3, 2021. The Company was formed for the purpose of effecting a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. While the Company may pursue an initial business combination with a target in any industry or geographic location, it intends to focus its search on opportunities that contribute in positive ways towards energy transition and clean energy technology. The Company’s board is led by John Fredriksen, chairperson, and includes independent directors Ole-Eirik Lerøy, Cato Stonex, James O’Shaughnessy, Tore Myrholt and Annika Sigfrid. Gunnar Eliassen is the Chief Executive Offi
Bentley Systems Announces Winners of the 2021 Going Digital Awards in Infrastructure3.12.2021 00:01:00 EET | Press release
Bentley Systems, Incorporated (Nasdaq:BSY), the infrastructure engineering software company, today announced the winners of the 2021 Going Digital Awards in Infrastructure. The annual awards program recognizes the extraordinary work of Bentley software users advancing infrastructure design, construction, and operations throughout the world. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20211202005219/en/ Bentley Systems Announces Winners of the 2021 Going Digital Awards in Infrastructure (Photo: Business Wire) Sixteen independent jury panels selected the 57 finalists from nearly 300 nominations submitted by more than 230 organizations from 45 countries encompassing 19 categories. To see the Going Digital Awards in Infrastructure finalists present their projects, click here. Bentley Systems showcased 19 Going Digital Awards in Infrastructure winners on December 2 during the 2021 Year in Infrastructure and Going Digital Awards
Vifor Pharma comments on market speculations2.12.2021 20:40:00 EET | Press release
Regulatory News: AD HOC ANNOUNCEMENT PURSUANT TO ART. 53 LR Due to current market speculations, Vifor Pharma Group states the following: Vifor Pharma Group systematically reviews options that can strengthen its market position and/or accelerate the growth of the company both organically and through partnerships and acquisitions. Vifor Pharma is therefore regularly in discussions with other market participants and does not comment on them. About Vifor Pharma Group Vifor Pharma Group is a global pharmaceuticals company. It aims to become the global leader in iron deficiency, nephrology and cardio-renal therapies. The company is a partner of choice for pharmaceuticals and innovative patient-focused solutions. Vifor Pharma Group strives to help patients around the world with severe and chronic diseases lead better, healthier lives. The company develops, manufactures and markets pharmaceutical products for precision patient care. Vifor Pharma Group holds a leading position in all its core b
Covid - 19: Laboratoire Cerba Detects First Case of Omicron Variant in Mainland France2.12.2021 18:44:00 EET | Press release
Laboratoire Cerba, a global leader in specialized clinical pathology and member of the Cerba HealthCare Group, has detected a case of the Omicron variant from the sample of a patient arriving from Nigeria who was tested at Roissy Charles De Gaulle airport. The authorities - Santé Publique France [Public Health France], Agence Régionale de Santé Ile de France [Paris Regional Health Agency] and Direction Générale de Santé [General Directorate for Health]- were immediately informed. Laboratoire Cerba, chosen last October by the French Health Authorities to participate in the Emergen consortium, carries out between 1,000 and 1,500 sequencings per week with results returned in less than 5 days. Sylvie Cado, CEO of Laboratoire Cerba explains: "From the beginning of the epidemic, we have been working closely with the Authorities and the National Reference Centres to share the information and the strains of interest in order to support our Authorities in steering public policy: the systematic
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.Visit our pressroom