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Credit Cards Market for Mass Affluent Consumers - Industry Size, Shares, Growth, Analysis and Market Insight by Researchmoz.us
  • USA - English


News provided by

ResearchMoz

Apr 08, 2014, 01:30 ET

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ResearchMOZ
ResearchMOZ

Albany, NY (PRWEB) April 08, 2014 -- The report provides insights into premium credit cards offered to mass affluent customers in key markets. It provides:

Best Practices for Credit Cards for Mass Affluent Consumers - Market Insight

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  • A global snapshot of current market dynamics for premium credit cards and their future outlook
  • Insights into the key factors driving increased focus on mass affluent customers
  • Insights into best practices and key strategies adopted by card issuers across key card markets
  • Information on value-added features offered by premium credit cards to attract customers
  • Case examples which highlight the successful enactment of best practices and strategies in key markets

Browse Full Report with TOC at: http://www.researchmoz.us/insight-report-best-practices-for-credit-cards-for-mass-affluent-consumers-report.html

Banks and other card issuers are increasingly focusing on credit cards designed to target mass affluent consumers. Even though mass affluent consumers represent a relatively small percentage of their total customer base, the revenue generated from them is high - mainly due to their deeper banking relationships that involve deposit accounts, mortgages, investment, and asset and wealth management, among others.

Mass affluent consumers spend more while shopping, traveling and purchasing services than mass market consumers. Moreover, the spending patterns of mass affluent consumers are generally less impacted during economically difficult times. Mass affluent customers are also traveling more than ever, and forecasts for outbound trips indicate that this trend will continue over the next five years in key economies. Consequently, both issuers and card schemes are partnering with airlines, hotels and resorts, and luxury brands to offer enhanced benefits on credit cards. Mass affluent customers are often offered lounge access at airports, free and discounted air tickets, preferential treatment at hotels and resorts, free valet parking, discounted limousine services, and insurance cover that ranges from travel accident to lost and delayed baggage, to trip cancellation. Card issuers and schemes also frequently offer roadside assistance, emergency legal and medical referrals, cash help in cases of loss or theft, and emergency card replacement services.

Capitalizing on private banking and wealth management relationship, the use of mass affluent brands such as Visa Infinite, and issues of ‘black' card editions are general strategies for card issuers, key markets such as South Korea and Brazil also have their own segmentation strategies. Issuers in South Korea use alphabets and numbers to distinguish their card offerings, while the use of other colors such as purple and red, which reflect royalty and wealth, have also gained attention. Issuers in Brazil often focus on sports events and limited-edition cards, and some segment their card offerings based on monthly income. In Russia, preset credit limits are a key segmentation strategy.

Browse More Reports related to Banking Category at: http://www.researchmoz.us/banking-market-reports-159.html

Scope:-

  • This report covers the market size of mass affluent consumers in eight key card markets.
  • This report provides a comparative analysis of benefits and services offered by 45 premium credit cards in key card markets.
  • It covers key business drivers for card issuers to issue credit cards for mass affluent customers.
  • It covers key strategies adopted by card issuers for all eight countries covered in the report.
  • It also provides case studies based on best practices adopted by the card issuers in these countries.

Reasons To Buy:

  • Gain insights into market potential for mass affluent customers in eight key markets.
  • Gain insights into the product proposition strategies of card issuers in key markets.
  • Gain insights into the current and future dynamics of premium credit card markets.
  • Understand emerging trends and drivers for premium credit cards.

Related Reports:

Insight Report: Responsible Lending - Changing Regulatory Environment and Industry Practices

Governments and regulatory bodies across the world have enforced numerous measures to curb irresponsible lending practices by banks and other credit institutions. These bodies have also taken initiatives to create consumer awareness about prudent borrowing to avoid excess debt. Excessive fees and interest rates on loans, lack of disclosure of products’ terms and conditions, and deceptive debt-collection practices by banks and credit institutions contributed significantly to the financial crisis in the US and other developed economies in 2008–2009. The phenomenon of responsible lending has assumed increased urgency since the global financial crisis, and has become a priority for governments and other regulators in many countries which are increasingly concerned about the consequences of irresponsible practices in the financial sector, particularly in banking. Browse full report with TOC at: http://www.researchmoz.us/insight-report-responsible-lending-changing-regulatory-environment-and-industry-practices-report.html.

Insight Report: Best Practice - Ensuring Optimal Customer Service and Relationship Management

Customer satisfaction has always been a priority for banks and payment companies. With the advancement of technology, rising competition and changing consumer preferences, it has become even more important to have effective customer service and relationship management (CRM) to retain existing customers as well as acquire new ones.

Companies have adopted a number of best practices, including strengthening existing CRM platforms and installing new ones, managing contact center operations effectively, offering customized products and pricing at an individual level, and using online and social networking platforms to address customers’ complaints. Browse full report with TOC at: http://www.researchmoz.us/insight-report-best-practice-ensuring-optimal-customer-service-and-relationship-management-report.html.

About Us:

ResearchMoz (http://www.researchmoz.us/) is the one stop online destination to find and buy market research reports. Our market research databases integrate statistics with analysis from global, regional, country and company perspectives. We provide the market context, competitor insight and future trends needed for strategic planning.

For More Information Kindly Contact:
Mrs.Sheela AK
Tel:+1-518-618-1030
Toll Free: 866-997-4948
Email: sales(at)researchmoz(dot)us
Blog: http://marketingresearchreport.wordpress.com/

Michell Thoras, ResearchMoz, http://www.researchmoz.us/, +1-518-618-1030, [email protected]

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