••• financial services research
Millennials wary of fraud attacks
Millennials are the leading target for fraudsters, according to new data from Toronto-based Equifax Canada, which flagged this age group for 49 percent of all suspected fraud applications in its fraud management database last year. Millennials (aged 18-34) are followed by Generation X (aged 35-50) at 30 percent and Baby Boomers (aged 51-69) at 18 percent. Seniors, meanwhile, represent roughly 6 percent of all fraudulent applications. On average, attempted fraudulent applications across all age groups have increased by 75 percent over the last two years. Equifax surveyed 1,569 Canadians ages 18-65. A probability sample of the same size would yield a margin of error of +/- 2.5 percent, 19 times out of 20.
Surprisingly, Millennials took the top spot for checking their credit report (26 percent) to help spot signs of identity theft. Older Canadians (55 and older) and college- and university-educated Canadians are significantly more likely (over 95 percent) to have done at least one thing to protect their personal data over the past 12 months.
The survey also found that Millennials are significantly more likely to say there are some situations in which they would not report fraud (26 percent), while older Canadians are nearly always going to report fraud if they are a victim (+90 percent). Of additional concern, 41 percent indicated they didn’t believe fraudsters would target them because they didn’t have enough money.
••• hispanic research
Hispanic CPG shoppers will hunt for fave brands
A study by Burbank, Calif.-based ThinkNow Research investigated CPG brand loyalty and behavior among Hispanic and other consumers across several CPG categories (including toothpaste; laundry detergent; bottled water; toilet tissue; shampoo; and dishwashing soap) and found that white non-Hispanic consumers showed the highest level of brand loyalty overall at 59 percent, followed by Hispanics at 55 percent and African-Americans at 54 percent.
When it comes to Hispanic consumers, the study found that almost 40 percent of bicultural Hispanics said they will go to another store or come back another day if the brand they usually buy is not available where they usually shop, a sentiment held by 35 percent of less-acculturated Hispanics.
Additionally, 22 percent of bicultural Hispanics said they would go to another store to purchase the brand they usually buy, compared to 18 percent of less-acculturated Hispanics.