HOBOKEN, N.J.–As Amazon continues to expand its reach into other businesses, there has been much discussion and even concern within credit unions over what it might mean should the company expand into financial services.
Would consumers be interested? That question was the subject of a national survey of Americans conducted by LendEDU that asked what other services consumers would willing to use Amazon for.
In a poll of 1,000 Americans, LendEdu found:
- 51.7% of Americans would use an Amazon-created virtual currency for purchases
- 44.5% of Americans would use an Amazon-created bank account as their primary bank account
- 50.3% of Americans would use an Amazon-created personal loan, while 30.2% would use an Amazon-created mortgage, and 45.3% an Amazon auto loan
- 36% would use a retirement investment account created by Amazon
- 44.5% would use an Amazon-created auto-insurance plan, while 37.5% would use an Amazon life insurance plan, and 35.8% would use an Amazon health insurance plan
- 55.2% would use an Amazon-created credit monitoring service
- 54.7% would trust Amazon to provide them with OTC and prescription medicine
- 38.3%, the plurality, would have the same level of trust in Amazon handling their finances when compared to a traditional bank; 17.2% would have more trust in Amazon over a bank
“It is important to mention that for each question, a large number of respondents answered ‘unsure,’ leaving the door open for even more willing consumers,” LendEDU said. “Also, when results were filtered for only Amazon Prime users, willingness numbers spiked across-the-board.”
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