Category
Business
Assisted Conversion
Trend cluster
Category
Retail
Finance
Banking apps are including online retail features and functions.
4.2
Trend score
Trend
What is the Retail Finance trend?
Retail Finance: Banking apps are becoming increasingly functional, now with extended features that allow people to shop (or sell) within the apps. These features help customers consolidate some of their lifestyle habits, merging banking and shopping to create simpler online experiences.
Insight
The consumer insight behind the Retail Finance trend
As the ecommerce industry continues to expand, consumers have come to expect consolidated virtual solutions for their various online purchases. Now, the brands that are able to best prioritize convenience and ease-of-use for everything from online banking to virtual shopping are most appealing to consumers.
Trend themes
Themes within the Retail Finance trend
Three behaviours holding the trend together01
Convenience and Consolidation in Virtual Shopping
Brands that prioritize convenience and ease-of-use in virtual shopping and merge with online banking or other services are most appealing to consumers.
02
AI-powered Shopping Assistance
Grocery shopping apps that use artificial intelligence to provide users with personalized recommendations and help them make better purchasing choices are a disruptive innovation opportunity.
03
Instant Resale and Circular Economy Contribution Apps
Apps that streamline the resale process and offer instant payment to users for used items while contributing to the circular economy can break new ground in the world of fintech.
Industry implications
What the Retail Finance trend means for industry
Where the trend changes the playbookFor
Mobile Banking and E-commerce
Mobile banking and e-commerce industries can benefit from developing integrated features and reward programs that enhance user experience and provide financial solutions.
For
Personal Finance and Wealth Management
Personal finance and wealth management industry can benefit from developing better all-in-one finance apps with features such as direct deposit, bill pay, investments and crypto conversions.
For
Fintech and Sustainability
Fintech industry can benefit from developing apps that offer instant cash resale, promote circular economy and act sustainably. These apps can appeal to millennial and Gen Z users.
Workshop question
How is your brand prioritizing convenience for its customer base?
Trend signals
Trend signals for Retail Finance
Trend score 4.2 out of 10, from popularity 65%, activity 51%, freshness 11%.
Popularity65%
Activity51%
Freshness11%
Audience
50%Men
50%Women
- Gen Alpha (not a primary audience)
- Gen Z
- Millennial
- Gen X
- Boomer
Market
North America
Europe
Asia-Pacific
Evidence
Examples of the Retail Finance trend
4 featured examples from Jun 15, 2020 to Sep 22, 2021CategoryBusiness
Instant Cash Resale Apps
Twig Lets Users Instantly Turn Their Used Things Into Cash
Twig’s app demonstrates how fintech companies are changing the financial landscape through innovative approaches to payment processing and asset valuation.
CategoryTech
AI-Powered Shopping List Apps
The 'HOUM' App Helps Users Make Smarter Choices
Incorporating AI technology in retail industry for better customer experience.
CategoryBusiness
All-In-One Finance Apps
The PayPal "Super App" Arrives Following Partnership With Synchrony Bank
The rise of all-in-one finance apps and high-yield savings accounts presents both an opportunity and a challenge for fintech startups to differentiate themselves and provide uniqu…
CategoryBusiness
Mobile Banking Loyalty Rewards
The Bnext Mobile Banking App Launched an Extensive Rewards Program
Disruptive innovation opportunity: Develop innovative mobile banking solutions that integrate rewards programs to attract and retain customers.
