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2015 BAC Trends in Consumer Mobility Report - Chicago
2015 BAC Trends in Consumer Mobility Report - Chicago
Mobile
phone
first
thing
on
their
minds
over
coffee,
significant
other
and
toothbrush;
more
than
half
of
Chicago
residents
prefer
digital
banking
Mobile
phones
are
increasingly
essential
to
everyday
life.
Accordingly,
the
second
annual
Bank
of
America
Trends
in
Consumer
Mobility
Report
delves
further
into
Americans
evolving
attitudes
and
feelings
toward
smartphones
and
uncovers
insights
into
how
consumers
are
interacting
and
communicating
on
these
devices.
It
also
takes
a
closer
look
at
how
mobile
phones
are
affecting
consumers
banking
behaviors
over
time,
seeking
to
explain
where,
why
and
how
they
are
using
mobile
devices
to
manage
their
finances.
Always
On
Chicago
residents
are
falling
asleep
and
waking
up
to
their
smartphones.
Nearly
three-quarters
(73
percent)
of
Chicagoans
are
sleeping
with
their
mobile
phone,
and
more
than
one-third
(38
percent)
say
it
is
the
first
thing
they
reach
for
in
the
morning,
ahead
of
their
coffee
(14
percent),
significant
other
(11
percent)
and
even
their
toothbrush
(10
percent).
Additionally,
three
in
10
(30
percent)
admit
that
they
have
fallen
asleep
with
their
smartphone
in
their
hand.
Whats
more,
nearly
six
in
10
(58
percent)
Chicago
residents
check
their
smartphone
at
least
once
an
hour,
and
one-third
(33
percent)
say
they
never
fully
disconnect
from
their
mobile
phones.
This
need
for
constant
connection
extends
to
banking
approximately
four
in
10
(38
percent)
Chicagoans
using
a
mobile
banking
app
access
it
at
least
once
a
day,
nearly
double
the
national
average
at
20
percent.
Chicago
residents
also
ranked
significantly
higher
than
the
national
average
when
it
comes
to:
Tracking
the
spending
habits
of
others
via
mobile
banking
(24
percent
vs.
13
percent
nationally)
Spying
on
family
or
friends
location
via
mobile
phone
(13
percent
vs.
7
percent
nationally)
Being
unable
to
last
one
day
without
their
smartphone
(51
percent
vs.
44
percent
nationally)
Banking
Behaviors
Chicago
residents
are
increasingly
turning
to
digital
channels
to
engage
with
their
financial
institutions.
More
than
half
(53
percent)
of
Chicagoans
use
either
mobile
or
online
as
their
primary
method
of
banking,
while
one
in
five
(20
percent)
complete
the
majority
of
their
banking
transactions
at
a
bank
branch.
Nearly
two-thirds
(65
percent)
have
at
least
tried
mobile
banking,
and
53
percent
are
actively
using
a
mobile
banking
app.
In
further
examining
behaviors
of
Chicagoans
using
a
mobile
banking
app:
Popular
activities
include
checking
balances
or
statements
(67
percent),
viewing
transactions
(67
percent),
and
paying
bills
(42
percent)
Nearly
three-quarters
(73
percent)
use
mobile
check
deposit,
an
increase
of
10
percent
from
2014
(63
percent)
and
10
percent
higher
than
the
national
average
(63
percent)
Majority
(94
percent)
use
banking
notifications
and
alerts,
such
as
bill
pay
(48
percent)
and
low
balance
(42
percent)
alerts,
which
is
higher
than
any
other
region
surveyed
Chicagoans
also
prove
to
be
comfortable
with
emerging
trends
in
technology.
Nearly
two-thirds
(64
percent)
would
consider
paying
someone
using
person-to-person
payments
via
a
mobile
banking
app,
which
is
higher
than
any
other
region
surveyed,
while
more
than
four
in
10
(45
percent)
would
consider
or
have
already
used
their
smartphone
to
make
a
purchase
at
checkout,
11
percent
higher
than
the
national
average
(34
percent).
Additionally,
nearly
half
(48
percent)
of
residents
would
consider
or
have
already
purchased
wearable
technology,
which
is
higher
than
any
region
surveyed.
When
asked
about
the
reason
for
purchasing
a
wearable
device,
Chicagoans
are
most
interested
in
tracking
their
fitness
activity
(29
percent),
followed
by
creating
efficiencies
(28
percent)
and
appearing
as
trend
setters
(18
percent).
Mobile
Etiquette
With
the
increase
in
smartphone
use
comes
a
growing
focus
on
mobile
manners.
Nearly
three-quarters
(73
percent)
of
Chicagoans
cite
they
have
mobile
boundaries,
believing
some
places
are
not
appropriate
for
mobile
phones.
Residents
ranked
movie
theaters
as
the
most
irritating
place
people
use
their
smartphones
(29
percent),
followed
by
religious
institutions
(18
percent)
and
restaurants
(13
percent).
In
looking
at
their
own
mobile
behaviors,
nearly
four
in
10
(38
percent)
Chicagoans
fessed
up
to
texting
during
meal
time,
35
percent
admit
to
taking
a
phone
call
on
public
transportation
and
more
than
one-
third
(34
percent)
are
checking
their
mobile
device
mid-conversation.
Methodology
Braun
Research,
Inc.
(an
independent
market
research
company)
conducted
a
nationally
representative,
telephone
survey
on
behalf
of
Bank
of
America
between
April
13-26,
2015.
Braun
surveyed
1,000
respondents
throughout
the
U.S.,
comprised
of
adults
18+
with
a
current
banking
relationship
(checking
or
savings)
and
who
own
a
smartphone.
The
survey
was
conducted
by
phone
to
a
dual
frame
landline
and
cell.
In
addition,
300
adults
were
also
surveyed
in
nine
target
markets:
California,
Florida,
Texas,
Atlanta,
Boston,
Charlotte,
Chicago,
Denver
and
New
York.
The
margin
of
error
for
the
national
quota
(where
n=1,011)
is
+/-
3.1
percent
with
a
95
percent
confidence
level;
the
margin
of
error
for
the
oversampled
markets
(where
n=301-307)
is
+/-
5.6
percent;
and
the
margin
of
error
for
the
oversampled
markets
(where
n=300)
is
+/-
5.7
percent,
with
each
reported
at
a
95
percent
confidence
level.