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Bemoaning the Decline in Branch Foot Traffic: It Could be Worse!

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Celent have reviewed this profile and believe it to be accurate.
5 February 2014

Comments

  • Bob - Good info, as always. Do you anticipate a sea-change in the next five years? Or, will the +60 population bend the curve to a more gradual slope?

  • […] on Branch Traffic:  Celent analyst Bob Meara posted an article noting that 90% of US bankers surveyed expected at least a 10% decline in branch […]

  • […] on Branch Traffic:  Celent analyst Bob Meara posted an article noting that 90% of US bankers surveyed expected at least a 10% decline in branch […]

  • Of course, it's always hard to predict the future with certainty. What we think we learned from a consumer survey in mid-2013 was that the demographic skew favoring branch banking rather than digital channels is part myth and part truth. For example, device ownership and usage show significant skews, but banking channel usage (except for the mobile channel) not so much. If activities such as online chat and FaceTime are a harbinger of things to come, older demographics will catch up with Gen Y pretty quickly. Usage of these technologies would have been a rounding error just two years ago, but now are used by a third of the survey sample of adults over 60.