Regardless of affluence, Conscientious consumers have emerged from the recession with the flexibility to repay their debts on time every month, and this reliability along with other key attitudes and behaviours mean they are represent a valuable segment for FS providers to target. Providers must understand what these consumers want and how their Conscientious status influences their behaviour.
Scope
* Using data from our global FSCI survey this report profiles the attitudes and behaviours of the emerging Conscientious 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 Conscientious wallet
Highlights
Their appetite for notice savings accounts matches that of instant access savings, and yet a significantly higher number look to other providers for this product. The apparent preference for holding instant access savings products with the primary bank is therefore misleading.
Though seemingly debt-averse, Conscientious consumers have more credit cards than the average consumer. Since Conscientious consumers pay off their debts every month, this would therefore imply that they are attracted to credit cards for some other purpose not because they require credit, but because their credit cards offer some other value.
The very term 'Conscientious' implies concern for more emotive factors surrounding product choice. Datamonitor's findings confirm that green or ethical concerns are a key part of the value they seek in their products, and this is significantly more important to this segment than it is to the average consumer.
Reasons to Purchase
* Access the results of Datamonitor's Global FS Consumer Insight survey in order to profile this key emerging Conscientious segment.
* Identify why the Conscientious consumers are potentially the most profitable segment and predict their future behaviors.
* Identify strategies you can take to effectively gain share of the Conscientious wallet.
For more information or to purchase this report, go to:
- http://www.fastmr.com/
Partial Table of Contents:
Overview 1
Catalyst 1
Summary 1
Methodology 1
Table of Contents 2
Table of figures 3
Table of tables 4
Introduction 5
Customer segmentation is vital for an effective marketing strategy 5
The recessionary environment is forcing providers to make tough decisions 5
Identifying fads as opposed to long term trends is important 5
Conscientious consumers are a valuable target for providers 6
The Future Decoded 7
Trend: Lower numbers of Conscientious consumers have emerged than expected 7
Insight: Financial pressures do not dictate Conscientious behavior 8
Conscientious consumers are found in the fastest growing emerging markets 9
Higher number of Conscientious consumers in China are due to reinforced confidence about the state of their economy relative to others and builds on cultural foundation of prudence 9
Russia has disproportionately few Conscientious consumers compared to other emerging economies 11
Insight: Demographic and lifestage findings have had some bearing on the emergence of Conscientious behavior 12
The emergence of Conscientious behavior has been more prevalent amongst younger Accumulators 12
Australia has a surprising number of older Conscientious consumers 13
Japan has no young or old Conscientious consumers 13
Employment status has also influenced the emergence of more conscientious behaviour 14
Australia contains significantly more recently unemployed Conscientious consumers than elsewhere 15
Demographic and lifestage influence should not be overstated 16
Trend: Conscientious consumers have a greater appetite for FS products than the average consumer 17
Conscientious consumers in the UK are particularly receptive to instant access savings accounts 19
Notice savings accounts in India are more popular than elsewhere 20
Life insurance is relatively unpopular in Australia 21
Credit cards are most popular amongst Conscientious consumers in Japan, Singapore and the US 22
Insight: Though seemingly debt-averse, Conscientious consumers have more credit cards than the average consumer 23
Conscientious consumers favor pre-paid cards more than most 24
Conscientious consumers are predictably attracted to savings and insurance products 24
Conscientious consumers are likely to be regular savers 24
Conscientious consumers have more pensions and life insurance as well as travel, home and health (etc) insurance 24
Insight: Conscientious consumers are financially intelligent 24
Conscientious consumers apply financial intelligence to their product choices, and are keen to shop around 25
Conscientious consumers are also price-driven 26
'Conscientious' does not mean 'risk-averse' 26
Conscientious consumers in all countries are financially aware 26
Conscientious consumers in the US are more Conscientious than others 26
Full ToC is available at:
-- 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.
For more information about these or related research reports, please visit our website at http://www.fastmr.com or call us at 1.800.844.8156.
