Social lending awareness very low
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A few months ago I remember seeing a news segment on internet-based social lending services, but I cannot say the idea appealed to me.
Demographics
Between the 21st and 26th of July 2010 1,073 members of the goo Research monitor group completed a private internet-based questionnaire. 53.9% of the sample were male, 15.8% were in their teens, 18.5% in their twenties, 20.8% in their thirties, 16.7% in their forties, 16.0% in their fifties, and 12.2% aged sixty or older.
Social lending services are basically online swap services. The one I saw on the television was points-based. Lending stuff out gained you points, borrowing stuff cost you points. Much of the stuff being circulated was household goods; items seemed to spend a month with one family before moving directly on to another, and another. However, rather than being something like, say, a high-end espresso maker, most of the items seemed to be not worth much more than the postage they would cost. Brand clothes and bags seemed to be another line that I could at least understand the attraction of.
Research results
Q1: Have you seen or heard of a social lending service? (Sample size=1,073)
Yes (to SQ1) 6.2% No 93.8% Q1SQ1: Have you used a social lending service? (Sample size=66)
Yes 6.1% No (to SQ2) 93.9% Q1SQ2: Would you want to use a social lending service? (Sample size=62)
Want to use 4.8% Want to use, but a little worried about safety 50.0% Don’t want to use 45.2% Combining all three questions we get:
Q1+SQ1+SQ2: Would you want to use a social lending service? (Sample size=1,073)
Want to use 0.3% Want to, but worry about safety 2.9% Don’t want to use 2.6% Already used 0.4% Not heard of it 93.8%