Finish off this week with the headlines (and news you may have missed) that will impact consumers in the coming weeks and months.
In this week's customer engagement recap:
- Verizon Is Dropping Contracts, But There's a Catch
- New Data Finds Millennials Still Living With Parents
- The Illusion of Unlimited PTO & What It Means to You
- Survey shows how smartphones changing retail landscape
- The Top Ten Benefits of Customer Retention
- Auto Loan Debt Tops $1 Trillion For First Time; All Consumer Debt Nearing $12 Trillion
Verizon Is Dropping Contracts, But There's a Catch (Fool.com)
The very definition of disruptive: T-Mobile's Uncarrier strategy vaults them from fourth to third among data carriers, and now the biggest one out there is doing away with service contracts. The next big step other networks will probably follow suit on: data overages.
New Data Finds Millennials Still Living With Parents (National Mortgage Professional)
Remember that exciting news a couple weeks back about Millennials getting out and renting? According to this report they were just heading out for an extended trip to the taco cart. Pew says that the number of Millennials moving in with their folks is actually increasing.
The Illusion of Unlimited PTO & What It Means to You (Access Loyalty Blog)
Big announcements from Netflix, Adobe, Microsoft and others this week have put extended parental leave policies in the spotlight. In all honesty, they're a bit of an illusion. No company is simply going to let an employee go completely off the grid for too long, and most employees are terrified of being outpaced by peers.
But, these moves allow those companies to move "parental leave" from a policy to a benefit. It's the type of benefit many, especially Millennials, are craving.
Survey shows how smartphones changing retail landscape (Chain Store Age)
People are still doing a ton of research on their mobile devices, but only 30% are using retail apps to complete purchases. Mobile coupons are growing rapidly.
Tucked away in the article is this little nugget: 83% of respondents say their home internet usage is primarily done on a mobile device.
The Top Ten Benefits of Customer Retention (Access Loyalty Blog)
Customer retention sounds good and every company will say that they love their customers. But let's face it, most of the emphasis in most companies is on new business. A more customer-centric approach isn't just good for profits, it can have a positive impact on every aspect of a business.
Auto Loan Debt Tops $1 Trillion For First Time; All Consumer Debt Nearing $12 Trillion (Consumerist)
Consumer auto debt has surpassed $1 trillion for the first time in history. Not to go out on a bad note (somewhat, consumers taking on more debt is a sign of a loosening economy), but...
Overall, the report found that consumer debt now totals $11.9 trillion for the first half of the year.