PYMNTS DATA AND ANALYTICS: INDUSTRY INDEXES

PYMNTS Data and analytics

INDUSTRY INDEXES

Our data and analytics team has developed a number of creative methodologies and frameworks that measure and benchmark the innovation that’s reshaping the payments and commerce ecosystem.

CHECKOUT CONVERSION

APRIL 2018 INDEX

Q1 2018 CCI FINDINGS

82.4 out of 100 – average Index score of the top 30 merchants studied

51.0 out of 100 – average Index score for all merchants studied

$236 billion – total sales revenue forgone due to friction in the checkout process

DISBURSEMENT SATISFACTION

JUNE 2018 INDEX

INSIDE THE JUNE INDEX

Despite a 7.8 percent dip in consumer satisfaction, direct deposit remained the most popular disbursement method for recurring payments.

Paper checks saw a dissatisfaction rate of 14.1 percent, the highest among all payment types.

75 percent of consumers who prefer instant payments say speed is the most important factor.

45.5 percent of consumers who live paycheck to paycheck said they were extremely satisfied with instant payments.

FINANCIAL INVISIBLES

OCTOBER 2017 INDEX

INSIDE THE OCTOBER INDEX

Financial Invisibles largely live paycheck-to-paycheck: 85 percent of Shut Outs, 73 percent of Second Chances and 66 percent of the On The Edge group reported doing so.

75 percent of Shut Outs were contacted by a bill collector within the past year.

24 percent of respondents were Voluntary Invisibles, while 5 percent were Involuntary Invisibles.

GIG ECONOMY

MAY 2018 INDEX

KEY FINDINGS INCLUDE:

$1.4 trillion – total collective annual earnings of American gig workers

60 percent – share of gig workers who say they use digital marketplaces to find new opportunities

55 percent – percentage of gig workers who also have a regular or full-time job

GLOBAL CASH

Asia-Pacific June 2018

KEY FINDINGS INCLUDE:

The U.S. used more than $2.3 trillion in cash in 2015

27.3 percent: Projected weighted average cash share of the Asia Pacific region by 2021

In India, there are only 16 ATMS per 100,000 people

92 percent of all printed legal tender in Japan are 10,000 yen notes

GLOBAL CITIZEN

FEBRUARY 2017 INDEX

KEY FINDINGS INCLUDE:

45 percent of international healthcare patients in the United States are aged 55 and older.

44 percent of patients list quality of care as their main reason for medical travel.

33 percent of patients are seeking treatment for life-threatening conditions.

GLOBAL FRAUD

OCTOBER 2017 INDEX

Key Findings Include:

45 percent: Increase in account takeovers in Q2 2017

$3.3 billion: Amount lost by merchants to account takeovers in Q2 2017

$57.8 billion: Value of potential fraud in the eight industries studied by the Index

5.5 percent: Increase in total fraud from Q2 2016 to Q2 2017

11.64 percent: Fraud rate of transactions over $500, 22 times higher than the fraud rate for transactions worth less than $100

innovation readiness

October 2017 INDEX

key FINDINGS include:

36 percent of FIs said their existing IT infrastructure made payments innovation hard or very hard

68.0 percent of FIs with less than $500 million in assets say they are well suited for innovation

63.0 percent of FIs identify meeting a customer need as the main driver for innovation

83.6 percent of FIs run core processing systems without a sandbox for development innovation

39.7 percent of top innovators use sandbox-to-scale functionality

Omni Usage

MAY 2018 INDEX

KEY FINDINGS INCLUDE:

61 percent of large-format store shoppers and 54 percent of those at small-format stores said they shopped at brick-and-mortar locations about as often as they had in past years.

Brick & Mortar Consumers were the most satisfied, giving merchants an average omnichannel satisfaction score of 37.2 out of 100,. By comparison, Any-Channel Consumers gave a score of 36.2 out of 100 and Digital Consumers awarded merchants just 35.8 out of 100.

Purchase history capabilities were some of the most popular among shoppers who had tried various features, as 16.7 percent of those buying medications, 15 percent of those purchasing beauty services and 8.2 percent of those buying beauty products said the features were “Very Good” or “Excellent.”

OMNIREADI

November 2017

Key Findings include:

Overall, 14 merchants saw their Index scores improve, while 60 scores stayed the same and nine

Mass Merchants retained the highest OmniReadi Index score of any industry, but scores in the space fell from 81.7 out of 100 last year to 81.3 this year.

Purchase Histories, Wish Lists and Account Profiles were among the main differentiators for Top 10 merchants.

The Index also features an interview with Drew Green, CEO of Indochino, discussing how the company has found omnichannel success despite an unconventional journey to get there.

RESTAURANT READINESS

APRIL 2018 INDEX

KEY FINDINGS INCLUDE:

Fifteen percent of QSRs accept digital wallet payments.
The average Index score for merchants was 38.7 out of 100, a slight increase from the December Index’s 38.0.

Soup/Salad/Bowl sellers were the highest-rated QSR category, with an average Index score of 58 out of 100, while Frozen Dessert merchants performed the worst, finishing with an average of just 23 out of 100.

Ninety-seven percent of the Index’s Top 20 merchants offered in-store events and 83 percent offered in-store inventory updates, compared to just 39 percent and 50 percent of the Bottom 20 merchants, respectively.

Sixty-one percent of QSRs now use cloud-based POS systems.

SMB TECHNOLOGY ADOPTION

Q3 2016 INDEX

KEY FINDINGS INCLUDE:

While the average SMB says they are moderate users of technology, just 13 percent are willing to jump on the innovation bandwagon.

80 percent of smaller merchants still cannot accept mobile wallets like Apple Pay or Android Pay.

SMBs embrace innovation when enough customers ask them to. 31 percent of merchants in face-to-face environments and 26 percent of merchants in remote environments have adopted new payment technology because their customers want them to.

STORE FRONT

MARCH 2017 INDEX

KEY FINDINGS INCLUDE:

Fitness companies emerged on top in this quarter’s index with a growth rate of 6.0 percent. They were followed by building contractors/remodelers and personal services, both of which grew by 3.9 percent.

Main Street USA now boasts 3.4 million store fronts, a projected 2.1 percent growth since Q3 2016.

For a second quarter in a row, Mountain and Southern states continued to grow at the fastest rate. The two regions grew by 3.9 percent and 3.6 percent, respectively in Q2 2016.

SUBSCRIPTION COMMERCE CONVERSION

APRIL 2018 INDEX

KEY FINDINGS INCLUDE:

The share of surveyed merchants offering messaging capabilities rose to 94.8 percent.

The average time to subscribe dropped by 7.4 seconds.

One hundred percent of SVOD/OTT merchants implemented passwords for their services.

Only 42.1 percent of consulting and financial services merchants offered plan options.

X-BORDER PAYMENTS OPTIMIZATION

NOVEMBER 2017 INDEX

KEY FINDINGS INCLUDE:

The United States kept its top spot in the Index, coming in as the most cross-border friendly country PYMNTS studied with an Index score of 65.9 out of 100. China rose from fourth to second place with a core of 63.9 out of 100, followed by the U.K. in third 63.2 out of 100.

The Travel industry received the highest Index score with a 64.8 out of 100, followed by the Apparel and Accessories industry (63.0 out of 100) and the Housewares and Home Furnishing industry (59.4 out of 100).

Visa is the most commonly accepted payment type, accepted by 94.5% of merchants, followed by Mastercard, accepted by 94 percent – and PayPal, accepted by 79.8 percent.

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