Digital Study Recap 2019

The company which did the research report - Synchrony

About the company - Synchrony is a premier consumer financial services company delivering customized financing programs across key industries including retail, health, auto, travel and home, along with award-winning consumer banking products.

Area of research - Emerging shopping and payment technologies that are impacting the in-store shopping experience.

Name of the organization which did the survey - Synchrony

Participants of the survey - 1,013 consumers. All participants were 18 years of age or older, financial decision-makers for their household and had shopped with a major U.S. retailer in the 6 months leading up to the survey.

Duration of the research survey - April 2019

The main points of discussion in the survey:

1. Personalization 

2. Augmented Reality 

3. Bio-Authentication 

4. Simplification

Findings of the survey:

1. 53% of people surveyed think personalization is useful when it reminds them of their rewards balance or lets them know a product is in stock at a local store

2. 58% of people said they are aware of augmented reality but only 28% have used augmented reality apps for shopping.

3. Only 25% have used bio-authentication to make a payment in the past year, but 69% say they would consider it in the future.

4. 77% said they don't want to be forced to use a digital wallet.

So, retailers should ensure their payment methods are flexible whilst preparing for bio-authentication to take off when consumers become more comfortable with the technology.

Questions :

1) The report was done by?

1. Standard chartered
2. Global markets
3. Societe generale
4. Synchrony

2) What is the title of the study report?

1. 5 ways of achieving financial goals
2. The race to save
3. Technologies impacting retail
4. Digital study recap

3) What kind of service is provided by Synchrony?

1. Auditing
2. Human resource
3. consumer financial services
4. Investment policies

4) Who did the survey?

1. Standard chartered
2. Global markets
3. Societe generale
4. synchrony

5) When was the report done?

1. 2020
2. 2019
3. 2018
4. 2017

6) How many participants were included?

1. 5234
2. 1013
3. 1234
4. 4321

7) When was the study done?

1. 2019
2. 2018
3. 2017
4. 2016

8) What % of people surveyed think personalization is useful?

1. 64%
2. 53%
3. 75%
4. 28%

9) What % of people said they are aware of augmented reality?

1. 47%
2. 27%
3. 58%
4. 62%

10) What % of people have used augmented reality apps for shopping?

1. 36%
2. 42%
3. 50%
4. 28%

11) What % of people have used bio-authentication to make a payment in the past year?

1. 25%
2. 42%
3. 82%
4. 40%

12) What % of people have said to be thinking about using bio-authentication to make a payment in the future?

1. 69%
2. 37%
3. 27%
4. 56%

13) What % of people said they don't want to be forced to use a digital wallet?

1. 85%
2. 77%
3. 69%
4. 92%

14) Where were the participants from?

1. India
2. China
3. US
4. Asia

15) Which one of the following points was not discussed in the study report?

1. Personalization 
2. Augmented Reality 
3. Bio-Authentication 
4. Transparency