Bank of America Trends in Consumer Mobility Report Explores Timely Mobile Trends and Forward-Looking Consumer Behaviors That Increasingly Impact Our Everyday Lives
The Bank of America Trends in Consumer Mobility Report finds the lines between physical and digital are increasingly blurring. The majority of people believe they can be friends with someone they’ve only met virtually, and many view communicating virtually just as or more meaningful than communicating in-person.
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About Bank of America Trends in Consumer Mobility Report
Insights from the Bank of America Trends in Consumer Mobility Report include:
- Social media handles are becoming the new “digits,” with younger Americans nearly as likely to ask for social media handles (46 percent) as they are for phone numbers (54 percent).
- Consumers are increasingly turning to apps to manage their everyday lives, with many Gen Zers (people born 1996-2000) accessing apps more than 50 times per day.
- One-third of Americans say that they could forego physical currency for a week, and the majority believe an entirely cashless society will happen within their lifetime.
- The majority of respondents are comfortable using biometrics on their smartphones today, including fingerprint/touch ID (69 percent), voice recognition (65 percent), facial recognition (50 percent), and retinal scan (44 percent).
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About Bank of America
The Bank of America Corporation (abbreviated as BofA) is an American multinational investment bank and financial services company based in Charlotte, North Carolina with central hubs in New York City, London, Hong Kong, and Toronto. It is the second largest banking institution in the United States, after JP Morgan Chase. Its primary financial services revolve around commercial banking, wealth management, and investment banking.