The Customer Dynamics That Will Change Retail Credit Forever

Vyze reveals the latest results from their 3rd annual IPSOS Consumer Preferences Survey.

With Special Guest Speaker, Principal Analyst from Forrester, Brendan Miller

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WEBINAR PARTICIPANTS

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As VP of Strategic Retail Services, Jai Holtz brings to Vyze more than 20 years of experience leading financial services at Sears Holding Corporation. During his time at Sears he oversaw the development and management of all financial service products.  In his current role he leverages his retail expertise to enhance Vyze’s solutions and service offerings to best meet the needs of retailers and their customers.

Brendan Miller Principal Analyst, Forrester Research Serves eBusiness & Channel Strategy Professionals.

He focuses on the convergence of payments, point-of-sale (POS) and commerce platforms, data, loyalty, and personalization. Brendan has specific expertise helping eBusiness leaders understand the opportunity derived from payments that can lead to new customer acquisition and long-term value. His interests focus on mobile commerce, retail shopping, eCommerce, merchant risk, stored value, alternative payments, and how payment systems integrate into broader commerce experiences.

Jai Holtz VP of Strategic Retail Services, Vyze

WHAT WE WILL BE COVERING

Reveal the results of Vyze’s 3rd Annual Consumer Survey • 2,000 US Consumers • Conducted by eNation • Compare YoY results &

generational differences

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Vyze Survey Results Forrester Analysis Brendan Miller’s recent report, Boost Your Conversions With Checkout Financing • Published: April 28th, 2017

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AWARENESS & DESIRE

% THAT ARE AWARE OF RETAIL FINANCING OPTIONS

63% 56%

84%

48%

77%

50%

77%

2015 2017

Gen Z: 18-22 Gen Y: 23-34 Gen X: 35-54 Baby Boomer: 55+

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Awareness is on

the rise across the

board

% MORE LIKELY TO SHOP AT A RETAILER IF THEY HAVE CREDIT WITH THEM

42%

55% 60%

42% 40% 30% 26%

2015 2017

Gen Z: 18-22 Gen Y: 23-34 Gen X: 35-54 Baby Boomer: 55+

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Loyalty is on

the rise for Millennials,

Gen Z is showing similar

behaviors

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USAGE

% APPLIED FOR FINANCING – IN-STORE OR ONLINE

24%

55% 49%

36%

Gen Z: 18-22 Gen Y: 23-34 Gen X: 35-54 Baby Boomer: 55+

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There is still plenty of room for growth

# OF STORE CARDS PER PERSON

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None 37%

1 24%

2 - 3 32%

4+ 7%

6 out of 10 people have

at least 1 store credit

card

% THAT RETURN TO USE FINANCING

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91%

9%

80%

20%

Return 91%

78%

22%

GEN Z GEN Y GEN X BABY BOOMER

The Majority Of Consumers Return To Use Financing

9%

STORE CREDIT CARDS IN THEIR WALLETS

38% 36%

16%

29%

44% 48%

22% 22%

31% 32%

20% 22% 20% 21%

31%

12%

Target Amazon Macy's Best Buy

Gen Z: 18-22 Gen Y: 23-34 Gen X: 35-54 Baby Boomer: 55+

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winning over Millenials taking the lead on Gen

Z continues to be a favorite for Baby

boomers consistent usage across several

generations

WHAT PAYMENT METHOD DO YOU WANT TO USE FOR BIG TICKET PURCHASES?

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Bank issued credit card

39%

Cash/check/debit 25%

Store branded

credit card 13%

Monthly payment plan

17%

Lease-to-own 2%

Lay-away 4%

1 in 3

wants to pay for big ticket

purchases with store-offered

financing options

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EXPERIENCES

WHERE DO YOU PREFER TO APPLY FOR STORE CREDIT?

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In-Store 41%

Online 38%

Mobile 11%

None 10% In-

Store 35%

Online 37%

Mobile 10%

None 18% In-

Store 31%

Online 38%

Mobile 16%

None 15% In-

Store 32%

Online 27%

Mobile 1%

None 40%

GEN Z GEN Y GEN X BABY BOOMER

Mobile is starting to get some traction with Gen Z but adoption is still low

WHERE ARE YOU MOST LIKELY TO USE STORE CREDIT?

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In-Store 33%

Online 19%

Mobile 5%

Equal 22%

None 21%

GEN Z GEN Y GEN X BABY BOOMER

In-store still continues to be the place where consumers use store credit

In-Store 34%

Online 32%

Mobile 2%

Equal 21%

None 11% In-

Store 36%

Online 19%

Mobile 2%

Equal 25%

None 18%

In-Store 45%

Online 13%

Mobile 0%

Equal 19%

None 23%

CHANGE IS HAPPENING, ARE YOU PREPARED?

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Shoppers are more aware of store credit and seeking it

so marketing is paramount

Simplifying the credit checkout experience will reduce friction

Working with multiple credit

providers is needed to meet all customers

preferences

Don’t neglect your in-store strategy,

but pay attention to the rise of

eCommerce

Offering more customers with

credit options will strengthen loyalty

www.vyze.com

Questions? Email us at marketing@vyze.com 17