There are three key things that I'd like to discuss today. And those three concepts that I'd like you to keep in mind are one, the market is changing. Every year, and every time I talk to people, people always have this kind of idea that the market that we deal with is always the same. But the reality is that every year there's new entrants, and there's people leaving the market, either because they retire, they die or whatever. And there's new people coming into the market, because they've graduated from school, they've entered the economy, they started in this purchase. So you've got to keep that in your mind all the time.

The second is that the market is increasingly becoming less and less comfortable with the idea of credit. People are starting to see that the big four banks or the big banks around the world, have all these really big fancy buildings, and they're starting to think well hang on, where is that coming from, they're coming from the money, I'm paying them, they're overcharging me. And the third concept that I'd like you guys to keep in the back of your mind, as we have the discussion today is that if you put cash into your customers hands, they are going to ultimately spend it with you. And so when you take all of that together, you'll start to see how we are looking at Payflex, and how to decrease cart abandonment.

So if we ever look at the research, the research is going to tell you a few things, the research will come back. And this is a study that was done in 2019, by the Bayman group. And it'll tell you these things. And you can check these things off. And you can go and build your sights on the back of this. And you can help yourself, make some deliberate changes to these particular strategies. But what we're saying is, if you go back to the three starting principles that I spoke about, things are happening slightly differently in the market. The first big thing that we're seeing happening is the concept of the millennial and when I throw that word out, everybody will always pop going hang on. Millennials are these young guys. But let's take two seconds to ponder what a millennial is. Is it a person that is just entering the workplace now, and is up to the age of 25? No, the millennials are actually people up to the age of just under 40 now.So millennials make up a very large percentage of the buying force in the online market today, around 25%. And that grows every year. And this is a group of people who are seeing the world differently. You know, one of the interesting stats out of one of our parent shareholder companies, is that people are more likely to search for how to cut up your credit card than how to apply for a credit card at the moment. And that's being seen more and more on a day to day basis in terms of how people are transacting. The first thing that we're seeing is that people are now starting to use debit cards more than they are using traditional credit cards.