The latest McKinsey Week in Charts

Layaway 2.0: Take home now, pay later with no interest fees

You’ve seen the offers, online and in stores: pay now, or pay later in four easy installments. Our research finds that this innovation, point-of-sale financing, is growing much faster than traditional unsecured lending. The new services are diverting some USD 8 to USD 10 billion annually from banks’ revenues.

To read the article, see “Buy now, pay later: Five business models to compete,” July 29, 2021

B2B selling: Business to business, or back to basics?

Many OEMs have to do a better job of understanding what customers want and need. Consider the gaps revealed in our recent research. Sixty percent of B2B customers want to buy online, and 62 percent prefer to reorder online. But only 13 % of industrial OEMs offer digital solutions of any kind, and only 10 % offer online self-service tools for placing re-orders.

To read the article, see “How to boost growth in industrial services: Better customer experience,” July 28, 2021

New roads for chip procurement

Amid global shortages, auto manufacturers are rethinking how they source the chips needed to help drivers brake swiftly, fuse laser and LiDAR data to detect objects, and other automated activities. Our survey found three new paths in which many OEMs expect to take on more of the design and development work themselves.

To read the article, see “Automotive semiconductors for the autonomous age,” August 3, 2021

Whose meritocracy is it, anyway?

“Black is cool now, but what if in a few years racial equity is not at the top of my employer’s concerns? Will they tell me that I can go now?” Many Black employees believe that the moves companies are taking will not result in permanent change. Black students agreed, saying that Black culture is trendy right now; their view is that brands are trying to capitalize on these trends. These students have real concerns about entering the fashion industry during this moment.

To explore the interactive, see “Voices and viewpoints of fashion students and emerging designers,” July 20, 2021.

Companies play catch-up on cybersecurity

Companies’ cybersecurity measures aren’t keeping pace with today’s business environment demands. A recent survey by McKinsey found that among 100 companies across various industries, only about 10 percent take aim at cyberrisk reduction. Most—about 70 percent—are more reactionary, filling security gaps as they arise.

To read the article, see “Organisational cyber maturity: A survey of industries,” August 4, 2021.