Recession-Proof consumers have emerged from the recession without experiencing a negative effect on their lifestyle. As such, they represent potentially the most profitable segment for FS providers to target as economies emerge from recession. FS providers must therefore understand what these consumers want and how their Recession-Proof status may influence their behaviour.
Scope
* Using data from our global FSCI survey this report profiles the attitudes and behaviours of the emerging Recession-Proof consumer segment
* The report identifies these consumers and analyses the drivers of their future behavior
* The report provides concrete actions for FS providers to position themselves competitively in order to capture a share of the Recession-Proof wallet.
Highlights
Although increasing demographic complexities means that age segmentation has become over simplistic, more Recession-Proof consumers have emerged in younger age segments, so FS providers must capture them now as they plan for the future.
Recession-Proof consumers have been found to be significantly more receptive to financial advice than the average consumer. However, they have a more well rounded and financially intelligent approach to their research than the average consumer and therefore require a range of channels at their disposal through which to obtain advice.
Recession-Proof consumers' have generally happier than the average consumer, and but this has not led to complacency. Rather, they are motivated to take actions which maintain both their financial security (saving more) and lifestyle (spending more).
Partial Table of Contents:
-- Full ToC is available at http://www.fastmr.com/
Overview
Catalyst
Summary
Methodology
Table of Contents
Table of figures
Table of tables
Introduction
Financial Services Consumer Insight: dispelling the myths surrounding online behaviors
Understanding consumers' attitudes towards financial services is vital for providers
The Future Decoded
Trend: Online activity is growing globally
Falling technology prices and growing infrastructure are driving growth in all regions
Insight: Online savings are now held by 43.9% of consumers with internet access
Japan has the highest penetration of online savings
All age groups use online savings, but 35-49 year olds account for 37% of all online savers
Online banking will not replace traditional methods in the eyes of savers
Insight: Consumers registered to use online savings hold a greater number of financial service products
Online savers are more active in almost all savings product categories
Online savers also hold a greater variety of financial service products
Online savers tend to save more, with some notable exceptions
Online savers are also more likely to buy other financial service products online
Trend: Online savers break the mold
Online savers key differentiator is in their attitudes and confidence regarding financial services
Online savers are driven by a range of concerns
Insight: Online savers are intelligent and nuanced, and are driven by more than just budget concerns
Insight: Online savers are comfortable making their own financial decisions
Online savers show a preference for free, online financial information
Online availability is not a top priority for online savers when making financial decisions
Online savers are strongly driven by liquidity concerns
Trend: Mobile phone use has surpassed online penetration
Insight: Mobile savings activity is subject to regional variations
Insight: Mobile savings has the most potential in developing markets
Trend: Web 2.0 is being used to push savings
Insight: Web 2.0 draws consumers in deeper
Dynamic content can help enhance control and functionality
Social networks are already being used to drive savings
Social media can also prove harmful as disgruntled customers can now reach a wider audience
Trend: Security and stability is critical to online savings activity
Online savers in countries with high rates of online savings show lower rates of concern
Insight: The security and stability of saver institutions is increasingly important to online savers
Perceived versus real risks of collapse
Insight: Fear of fraud is detrimental to online savings and investment activity
Security must be visible without becoming inconvenient
Action points
For more information or to purchase this report, go to http://www.fastmr.com/
About Datamonitor
The Datamonitor Group is a world-leading provider of premium global business information, delivering independent data, analysis and opinion across the Automotive, Consumer Markets, Energy & Utilities, Financial Services, Logistics & Express, Pharmaceutical & Healthcare, Retail, Technology and Telecoms industries. Datamonitor's market intelligence products and services ensure that you will achieve your desired commercial goals by giving you the insight you need to best respond to your competitive environment. View more research from Datamonitor at http://www.fastmr.com/
About Fast Market Research
Fast Market Research is an online aggregator and distributor of market research and business information. We represent the world's top research publishers and analysts and provide quick and easy access to the best competitive intelligence available.
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