Friday, September 09, 2016

Digital Sales Channels in the EU and USA

Internet penetration rate:
  • USA: 88%
  • EU: 71%
However, customer preference for digital channels is much higher in the EU than in the USA.
Preference for digital services as opposed to brick and mortar:
Mobile Telecom Sector
  • USA: less than 33%
  • EU: Close to 50%
Banking
  • Western EU: 58%
  • Northern EU: 85%
  • USA: 52%
Car Insurance Sales (share of online)
  • EU: 24%
  • USA 17%
Personal Loans (share of online)
  • EU: 27%
  • USA: 16%
Reasons:
  • Europe‚Äôs much more fragmented and competitive mobile telecom sector
  • More innovative business models in EU due to new entrants
  • US emphasis on physical presents
  • US dependence on physical presence for up and cross-selling
McKinsey, Statistica



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