U.S. Financial Services Focus: The Walmart Shopper
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Financial services and related products play a significant role in driving Walmart’s store traffic and therefore positively impact overall sales. Walmart’s comprehensive financial services offering also strongly differentiates among retailers, providing an additional traffic boost.
Moreover, the revenue Walmart generates from these transactions does not include revenue generated by its partners, among them prepaid card provider Green Dot, money transfer provider MoneyGram, credit card partner Synchrony Financial, and tax services partner Jackson Hewitt also generates a significant share of its revenue from the 3,000 Jackson Hewitt kiosks located in Walmart stores. Perhaps the most revenue comes from Walmart’s in-store bank branches, which collectively have billions in deposits and generate significant revenue from fees and interest.
The result is a multi-billion-dollar financial services enterprise that plays a vital role in fulfilling millions of consumers’financial services needs, driving sales of Walmart merchandise and other services in the bargain.
U.S. Financial Services Focus: The Walmart Shopper assesses Walmart financial services and product initiatives and trends, with a focus on credit cards, prepaid cards, money transfer services, tax services,and mobile engagement. The contributions of major partners (such as prepaid card provider Green Dot, money transfer provider MoneyGram, credit card partner Synchrony Financial, and tax services partner Jackson Hewitt) and related revenue impact are also detailed. Analysis is framed by key demographics.
- Executive Summary
- Introduction
- Report Scope
- Report Summary
- Walmart Financial Services and Products
- Financial Services In Context: The Walmart MoneyCenter
- Walmart Financial Services Purchases and Usage
- The Walmart Financial Services User
- Walmart and Payment Cards
- Walmart and Mobile Technology
- Walmart and Other Financial Services
- Introduction
- Walmart Financial Services
- Financial Services Offerings in Context
- Comprehensive Range of Services
- Overview of Revenues Generated
- Financial Services: The Components
- MoneyCenter
- Walmart Customer Financial Service Purchases and Usage
- Table Shopper Patterns : In-Store, Online, and In-Store/Online Purchasing from Walmart, by Retail Category, 2018
- Table Walmart In-Store Services Usage: By Type, 2018
- Table Walmart In-Store Financial and Tax Services Usage: By Type of Offering, 2018
- Financial Services Offerings in Context
- The Walmart Financial Services User
- User Characteristics
- Banked Status
- Table Banked vs. Unbanked Customers: By Selected Major Retailer, 2018 (percent and number in millions)
- Table Walmart Customer Profile: Banked, Fully Banked, Underbanked, and Unbanked, 2018
- Table Customer Use of Walmart U.S. Financial Services: By Banked Status, 2018 (percent and index)
- Other Demographics
- Table Customer Use of Walmart U.S. Financial Services: By HH Income and Banked Status, 2018
- Table Customer Use of Walmart U.S. Financial Services: By Gender and Age, 2018
- Table Customer Use of Walmart U.S. Financial Services: By Region and Population Density, 2018
- Table Customer Use of Walmart U.S. Financial Services: By Region and Population Density, 2018
- Banked Status
- User Characteristics
- Walmart and Payment Cards
- Credit Cards
- Credit Card Usage by Major Retailer Customer Base
- Table Credit Card Usage and Usage Frequency Indexed by Major Retailer Customer Base, 2018
- Walmart and Sam's Club
- Table Percent of Customers Who Use Walmart Credit Cards: Overall and by Private Label vs. Co-Branded, 2018
- Table Percent of Customers Who Use Sam's Club Credit Cards: Overall and by Private Label vs. Co-Branded, 2018
- Credit Card Usage by Major Retailer Customer Base
- Prepaid Cards
- Prevalent Uses
- MoneyCard Program an Industry Success Story
- Table Top Five Reloadable Prepaid Cards: Use and Use Most, 2018
- In the Store
- Walmart MoneyCard: Nuts and Bolts
- Savings and Budgeting Features
- New Features
- Pricing Changes
- The Green Dot Connection
- Table Green Dot Operating Revenue and Revenue Attributable to Walmart, 2010-2017
- Credit Cards
- Walmart and Mobile Technology
- The Technology
- It's All About the App
- Retailer-Specific Mobile Apps an Important Means Of Consumer Engagement
- Walmart App Facilitates The Omni-Channel Shopping Experience
- Table Mobile Wallet App Usage by Brand: Walmart Customers, 2018
- Online and Mobile Checkout Options Galore
- The Technology
- Walmart and Other Financial Services
- Money Transfer Services
- Money Transfer Types Used: By Retailer
- Table Indexed Usage of Money Transfer Methods: By Major Retailer Customer Base, 2018
- Table Money Transfer Services Used at Walmart: By Type, 2018
- Domestic and International Money Transfers
- Table MoneyGram Operating Revenue and Revenue Attributable to Walmart, 2011-2017
- Walmart-2-Walmart
- Walmart-2-World
- MoneyGram
- Money Transfer Types Used: By Retailer
- Tax Services
- Table Tax Services Used and Products Purchased at Walmart: By Type, 2018
- The Jackson Hewitt Connection
- Money Transfer Services
- Appendix
- Methodology
- Consumer Survey Methodology
- Population Estimates
- Table Indexes
- Methodology
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