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Business Strategy: 2015 Consumer Channel Preference Survey Results — Consumer Trends at the Branch and ATM Demonstrate Branch Importance in Overall Transformation Strategies

Business Strategy: 2015 Consumer Channel Preference Survey Results — Consumer Trends at the Branch and ATM Demonstrate Branch Importance in Overall Transformation Strategies

This IDC Financial Insights report discusses the findings of our 2015 Consumer Channel Preference Survey focused on the banking habits of U.S. consumers, and it provides actionable advice for those responsible for managing the branch network and those in IT. It is now officially safe to say that the branch is in fact not going anywhere, and the focus needs to be on transforming branches, not just on closing and consolidating them.

According to Marc DeCastro, research director, Consumer Banking, IDC Financial Insights, "The focus needs to shift to specifically how to utilize today's digital technologies to engage the client in physical locations, like a branch, drive up, or ATM. Closing branches is not transforming the experience but is more inconveniencing the customer. Focus on ways to reduce costs and improve the in-branch experience, which will lead to more fulfilled (and profitable) customer relationships."

Please Note: Extended description available upon request.


IDC Financial Insights Opinion
In This Study
Demographic and Survey Methodology
Situation Overview
Financial Institution Respondent Demographics
The Approach
Future Outlook
Essential Guidance
Actions to Consider
Learn More
Related Research
Synopsis
Table: Monthly In-Branch Teller Usage by Age Group, 2012, 2014, and 2015 (%)
Table: Monthly In-Branch ATM Usage by Age Group, 2012, 2014, and 2015 (%)
Table: Monthly In-Branch Teller Usage by Primary Institution, 2012, 2014, and 2015
Table: Monthly In-Branch ATM Usage by Primary Institution, 2012, 2014, and 2015
Table: Monthly In-Branch Teller Usage by Household Income, 2012, 2014, and 2015
Table: Monthly In-Branch ATM Usage by Household Income, 2012, 2014, and 2015
Table: Active Branch Customers' Level of Satisfaction with Branch by Primary Institution, 2012, 2014, and 2015 (Mean Rating)
Table: Active Branch Customers' Level of Satisfaction with Branch by Age Group, 2012, 2014, and 2015 (Mean Rating)
Table: Active Branch Customers' Level of Satisfaction with Branch by Income, 2012, 2014, and 2015 (Mean Rating)
Figure: Respondents by Age Group
Figure: Respondents by Household Income
Figure: Respondents by Primary Financial Institution
Figure: Consumer Banking Usage by Channel, 2011–2015
Figure: Account Opening Preference, 2009, 2014, and 2015
Figure: Account Opening Preference by Age Group: Employee Assisted and Self-Service
Figure: Monthly In-Branch Teller Usage Frequency
Figure: Monthly In-Branch ATM Usage Frequency
Figure: Reasons for Active Teller Usage as a Primary Channel
Figure: Top Reasons Customers Were Not Satisfied With Branch

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