February 11, 2008

The Greening Of America — One eStatement At A Time

North American Consumer Technographics

This is the first document in the "eStatement Adoption" series.

by Catherine Graeber, Elizabeth Davis

with Carrie Johnson, Emily Bowen

Executive Summary (This is a document excerpt)

The adoption of eStatements in the US continues to grow, which we track by looking at data from Forrester's North American Technographics® Financial Services Online Survey, Q3 2007. In the past two years, online consumers receiving an eStatement for their credit card grew from 42% to 55%, a 31% increase. Among consumers who have given up paper statements, environmental concerns drove them to move to eStatements. The Gen Y segment has made the most progress in giving up paper statements, while Seniors are still clinging to paper. But there's still work to be done: Across all deposit and credit product categories, 45% of those consumers still receiving paper statements report that they'll never switch to eStatements. But the other 55% of paper statement junkies could be convinced to change their ways. What would it take? A mix of financial incentives and help with record-keeping alternatives.

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