Personal financial attributes driving spending behavior
Building on yesterday's post about predicting spending behavior, I'm trying to compile a list of personal financial attributes that might predict future spending behavior. I would appreciate some feedback from my readers on the matter. Here are a couple of examples that I have so far:
- A person that has good income, a low debt-to-income ratio, significant savings and pays rent every month may be a good candidate for a home loan.
- Someone that shops online, spends money at a vet's office, and spends money at a brick-and-mortar pet store might be the kind of person that would buy pet supplies online.
posted by Scott Bliss @ 9:43 AM
2 Comments:
At August 6, 2008 11:40 AM ,
ron said...
Scott,
You're thinking like a credit card company business analyst :)
Here's a couple for you:
Someone who has recently booked an international flight is probably going to be spending overseas soon. It might be a good idea to remind them that their Capital One card has no international transaction fees.
Someone who has had a mortgage inquiry on their credit report is probably about to move. We should upgrade them to double rewards with moving/storage companies and home improvement stores over the next 6 months to make sure we capture the additional spending that customer is going to be doing.
At August 7, 2008 12:03 AM ,
Bruce said...
even better would be to marry that idea with mobile technology (think iPhone with GPS), so that when your wife who is shopping at the mall and buys a new pink dress, and pays with her Credit card, gets an instant message as she walks out of the store and passes the shoe store a few stores down and gets an instant message with a 10% virtual coupon to the shoe store for the 3 inch heels that just happen to be in stock and match that dress perfectly :-)
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