Today In Data

Today In Data: Correctly Capturing The Moment Of Inspiration

The magic moment in commerce is when the customer sees it – and wants to buy it. The moment of inspiration when if that “buy button” is near enough at hand, the customer is going to convert. Sounds simple – but it’s not always easy to pull off. Inspiring a customer is not easy work to start with, and sometimes those charged with protecting consumer interests get a weirdly upside-down perspective on the issue – and they start giving consumers what they think they should want instead of what they actually do want. Sometimes it’s about inventing a new, more digital experience for customers to want. And sometimes it’s about knowing one’s customer base and integrating for the future to avoid the risk of being stuck in the past.

Data

$2.19 billion: Valuation attached to China’s Baby Tree platform after Alibaba’s investment.

$2 billion: The amount of deposits Canada’s first digital bank EQ has taken in since its founding in 2016.

$1 million: What a NYC taxi medallion cost in 2015. Today, they auction for around $175,000.

51 percent: Share of millennials who are more willing to purchase from brands that offer a strong mobile experience.

.25 percent: Share of Overstock.com’s sales that are actually done in bitcoin (or another cryptocurrency).

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NEW PYMNTS DATA: HOW WE SHOP – SEPTEMBER 2020 

The How We Shop Report, a PYMNTS collaboration with PayPal, aims to understand how consumers of all ages and incomes are shifting to shopping and paying online in the midst of the COVID-19 pandemic. Our research builds on a series of studies conducted since March, surveying more than 16,000 consumers on how their shopping habits and payments preferences are changing as the crisis continues. This report focuses on our latest survey of 2,163 respondents and examines how their increased appetite for online commerce and digital touchless methods, such as QR codes, contactless cards and digital wallets, is poised to shape the post-pandemic economy.

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