Quicken 98 Maintains Leadership With Retail Market Share Over 80%
MOUNTAIN VIEW, Calif. -
Intuit Inc.'s (NASDAQ:INTU) Quicken® personal finance products claimed over 80% of retail market share units, according to PC Data. In the first full month since the Quicken 98 family of products became available on October 23, Quicken Deluxe 98 was the #1 best-selling personal productivity software.
"Quicken has been the #1 personal finance software program for every month since PC Data began collecting industry data in 1991," said Ann Stephens, president of PC Data. With the introduction of Quicken 98, Intuit continues to lead the category, with no competitor even coming close.
According to PC Data's November 1997 report, Quicken 98 outsold the # 2 title in the personal finance category (Microsoft Money) by a margin of 4 to 1 as measured in units. With Quicken 98 retail unit share at 83%, Quicken 98 products generated 88% of sales revenue for the personal finance software category. PC Data is the leading market research firm for software and hardware point-of-sale data. Their research is based on analysis of reseller software sales by forty-two major retailers including CompUSA, Best Buy, Egghead, Office Depot, Babbages and Price Costco.
The Quicken 98 family -- Quicken Basic 98, Quicken Deluxe 98, Quicken Home & Business 98, and Quicken Suite 98 -- are the most popular personal finance software products available today. "Quicken is a critical part of our fall selling season," said Marty Lobkowicz, vice president and general merchandise manager of Office Depot. "Customers demand the product, and we do everything we can to make it easy for them to find the version of Quicken 98 that best fits their needs."
"Quicken is certainly among the hottest software products on our shelves," said Scott Maentz, vice president of software product marketing at Tech Data, a leading full-line distributor of personal computer products. "We're seeing strong demand from our resellers and retail dealer customers for both Quicken 98 and TurboTax, Intuit's tax preparation products."
Quicken 98 combines the benefits of the desktop and the Web, creating a powerful but easy-to-use solution that takes consumers beyond organizing and into the realms of making smarter investment decisions, finding great deals on insurance and mortgages and being prepared for emergencies. Additionally, Quicken 98 directly links to Intuit's award-winning website, Quicken.com, to give customers access to objective financial information, including personal finance news and tools as well as the leading mutual fund and insurance sites on the World Wide Web.
With Quicken 98, customers can make online payments with any U.S. financial institution. Quicken 98 works with 53 of the nation's leading financial institutions covering 47 million checking accounts and 29 major credit cards covering 80 million accounts to download statements into Quicken. In addition to the growing number of financial institutions who support statement download for checking and credit card accounts, Quicken Deluxe 98 for Windows today supports investment transaction download from four major brokerages -- Charles Schwab, E*TRADE, Fidelity Investments®, and Waterhouse Securities. Quicken Deluxe 98 supports investment transaction download from more investment firms than any other financial management software. By early 1998, eight other financial institutions -- Accutrade®, American Century Investments, Ameritrade®, Discover Brokerage Direct, DLJdirect, PaineWebber Incorporated, Smith Barney, and T. Rowe Price -- will offer online investment tracking as well.
Quicken 98 is available for Windows 3.1 as a 16-bit application and for Windows 95 as a 32-bit application. Typical retail pricing for Quicken Deluxe 98 is $59.95 minus a $20.00 rebate from Intuit for previous Quicken users. Quicken Basic 98 is $39.95 minus a $10.00 Intuit rebate for previous Quicken users. Quicken Deluxe 98 and Quicken Basic 98 are available in versions for Macintosh with the same prices and rebates. Quicken Home & Business typically retails for $89.95 minus a $20.00 Intuit rebate for previous Quicken users; Quicken Suite 98 retails for $89.95 minus a $20.00 Intuit rebate for previous Quicken users.
(Source: PC Data, personal finance market units, all platforms, month ending November 30, 1997, with over 70 percent of retail customers covered.)
Intuit Inc., a financial software and Web-based services company, develops and markets Quicken, the leading personal finance software; TurboTax®, the best-selling tax preparation software; and QuickBooks®, the most popular small business accounting software. Intuit's Quicken.com Web site offers a complete set of personal financial news, information and tools, including the leading mutual fund and insurance sites. Intuit's products and services enable individuals, small businesses, and financial professionals to better manage their financial lives and businesses.
This press release contains forward-looking statements about results or other events that have not yet occurred. This includes, but is not limited to, statements related to the expected launch and other details of the online investment tracking feature in Quicken. The actual results or events may differ materially from those anticipated. Such factors include, but are not limited to, potential technical problems in developing the feature and integrating it with a variety of brokerage firms' systems, and Intuit's ability to successfully negotiate agreements with brokerage firms. Intuit assumes no responsibility to update any forward-looking statements to reflect events occurring after the date of this press release. Information about other factors that could affect future results and events is included in Intuit's fiscal 1997 Form 10-K filed with the Securities and Exchange Commission.
Intuit, the Intuit logo, Quicken, QuickBooks, QuickBooks Pro, TurboTax, MacInTax, ProSeries and NETworth, among others, are registered trademarks and/or registered service marks of Intuit Inc. in the United States and other countries. Quicken.com, BankNOW, Quicken Financial Planner, Quicken InsureMarket, QuickenMortgage and QuickTax, among others, are trademarks and/or service marks of Intuit Inc. or one of its subsidiaries in the United States and other countries.