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Credit Card Customer Analytics

Global credit card market: Latest market research analysed


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2014-03-14 00:47:02 - Credit Card Customer Analytics - a new market research report on companiesandmarkets.com

Credit Card Customer Analytics is a powerful interactive tool providing direct answers to the questions which are central to developing a customer-centric product and marketing strategy. It speeds up the analysis of the global credit card customer by offering essential insight at a country and demographic level across 21 countries.

Report Scope

- Global consumer data, drawn from our annual survey of 27,000 consumers in 21 countries.
- Detailed insight into the cards consumers hold, including credit card penetration, application channels, premium branding and what is top of wallet.
- Granular data on product features and how important these are to credit card choice. Includes rewards, contactless, and promotional pricing.
- Deep insight into switchers. Identifies the groups looking for a new card, and then

 

 

the product features these customers want from a new issuer.

Key Highlights

At a global level, 20% of all credit card holders are likely to look for a new card in the near future. Over 77% of these switchers will be attracted by low rates and fees, while just under half want reward points. Contactless is a feature 13.3% of switchers will look for in a new credit card.

Just under 10% of all consumers report that they have a contactless credit card. The wealthier the cardholder, the greater the penetration and awareness of this feature. Over 11% of mass affluent report they have a contactless card, compared to 8.3% with little or no liquid wealth.

Only 51% of all credit cards are seen as top of wallet, with 6.1% reported as dormant by consumers. A further 8.1% carry only a balance and are not used for new transactions. In terms of repayments, 66% of credit card holders pay their balance in full each month.

Reasons to Buy

- How can I develop product propositions to grow my credit card portfolio?
- Which are the under-penetrated consumer groups, and what product or service features are they looking for?
- What proportion of consumers in my market are transactors, and which are revolvers? How does my market compare with the global average?
- How important are reward points to consumers in my market, and how does this compare to cashback or insurance benefits?
- What is the penetration of contactless functionality from the customer perspective? How important is this in their choice of credit card?

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Author:
Mike King
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