Online price comparison sites have become a important tool for consumers wanting research FS products themselves and take greater control of their finances.
Scope
* Using global consumer data, this report provides insights on the potential for the development of price comparison sites globally
* The UK is the most advanced of aggregator markets. This report gives an in-depth analysis of consumer attitudes & behaviours in this country
Highlights
The global financial crisis has increased the levels of doubt and confusion within the financial services industry. Consumers find the independence and transparency provided by price comparison sites particularly attractive in this confusing landscape.
PCS, although involved or indeed owned by financial institutions, have managed to emerge untarnished by the same distrust affecting the advisors and brokers. PCS have managed to maintain an image of independence, with the appearance of having the best interests of the consumer at heart.
There is a perception that it is the younger, more technologically aware consumers who are using the PCS to their full advantage. However this doesn't appear to be the case when looking at our data. The two largest demographics among the bought segment are the 35-49 year olds and the 50-64 years olds.
Partial Table of Contents:
-- Full ToC is available at http://www.fastmr.com/
Overview
Catalyst
Summary
Methodology
Executive Summary
UK Plastic Card Market in Review and Future Outlook
The UK card market grew by a CAGR of 10.0% from 2004 to 2008, but growth will be weaker to 2013
Economic indicators give mixed indications for the future of the UK cards market
Market Statistics and Key Trends
The number of credit card holders is falling
The total number of cards in issue remains flat, with only debit showing growth
Card scheme market shares have been volatile over the past five years
MasterCard now leads the credit card market
Forecasting the UK Payment Card Market
Despite the recession the UK cards market will continue to grow through to 2013
Competitor Market Shares and Developments in the UK Plastic Card Market
Lloyds Group is now the largest credit card issuer by cards in issue
Lloyds Group holds a 21% share of credit card balances outstanding
Product Innovation in the Downturn: Lessons for UK Issuers
Datamonitor has identified six strategies for issuers to maximize their performance in the downturn
There are two focus areas for issuers trying to improve the profitability of their business
Within this there are six potential strategies that can help issuers to address their pain points
Table of Contents
Table of figures
Table of tables
Introduction
UK Plastic Cards 2009 is structured in six chapters
UK Plastic Card Market in Review and Future Outlook
Cards grew by a CAGR of 10.0% from 2004 to 2008, but growth will be weaker to 2013
Economic indicators give mixed indications for the future of the UK cards market
Inflation is no longer a worry for the cards market
Inflation may be easing, but unemployment continues to rise
Write-offs continue to be a problem for cards, a problem made worse by unemployment
Due to the recession consumer behavior with cards is turning negative for issuers
Both balances outstanding and transaction values are showing a decline
While dropping balances outstanding, remain surprisingly robust despite the downturn
Consumers are also using alternative forms of credit to help make ends meet
Changes in overdraft balances tend to follow similar patterns to changes in credit card outstandings
In line with long term trends, balance transfers are decreasing
Market Statistics and Key Trends
UK cards are growing as a share of the total payments market
The value of all card transactions is rising
The total number of cards in issue remains flat, with only debit showing growth
The decline in private label cards may be stabilizing
The number of credit card holders is falling
The variety of cards by type is polarizing into more premium and standard cards
Despite static card numbers, transactions are growing with over 10.1 billion in 2008
Transaction values are growing as a result of the growth of debit
Charge cards hold the highest average transaction value and shows signs of continuing growth
Purchases account for 66.3% of all UK card transactions
Debit cards showed the highest rate of growth in transaction value by type between 2004 and 2008
Credit transactions are dominated by purchases
Charge cards are seeing growth in transaction values, driven primarily by business use
Card scheme market shares have been volatile over the past five years
MasterCard now leads the credit card market
The charge card market has seen American Express' historic lead solidified into a dominant position
The increase in POS terminals have helped drive the growth in transaction volumes
The Independent sector continues to drive growth in ATM's
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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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