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2020 Foresight: Banking the Mass Affluent - New Study Released

New Financial Services research report from WealthInsight is now available from Fast Market Research

 
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Boston, MA -- (SBWIRE) -- 01/23/2014 -- The mass affluent population is rapidly growing and accounted for a 7.41% share of the world's population in 2012. Although it is a relatively small segment in volume terms, it holds around 40% of the total world's wealth. In volume terms, the US is the leading country with a mass affluent population of 77.77 million. In regional terms, Europe has the largest mass affluent population while the Asia-Pacific is the fastest-growing.
The mass affluent population is an entirely separate group of customers who are demographically and economically different from HNWIs and the mass market. Their lifestyle, spending behavior and attitudes are unlike those of the rest of the population.
The mass affluent category has a different approach to money management, and displays a preference for spending and investments. The mass affluent have different lifestyles and tend to spend more on entertainment, luxury and leisure products and services. Demographically, most of the mass affluent population is reaching retirement age and were victims of the financial crisis of 2008. The category has a tendency to save for retirement, and their children's education.

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Key Highlights

- Europe has the largest mass affluent population, while Asia-Pacific's is the fastest-growing.
- In 2012, the US had the largest mass affluent population of 75.34 million. It grew at a review-period compound annual growth rate (CAGR) of 4.78%.
- India and China are the major emerging contributors to Asia-Pacific's mass affluent population growth.
- Mass affluent customers are raising their contributions to retirement plans.

Scope

- This report provides an extensive analysis on targeting the mass affluent population by banks, financial institutions and wealth management companies.
- It details historical values for the mass affluent population for 2008-2012, along with forecast figures for 2013-2017.
- The report provides a detailed analysis of opportunities and drivers, marketing and targeting strategies, challenges in targeting mass affluent customers.
- The report profiles leading market players stating their marketing, targeting and advertising strategies for mass affluent

Reasons to Get This Report

- Take strategic business decisions using national historic and forecast market data related to the mass affluent population.
- Understand the growth drivers and restraints for targeting mass affluent customers, along with key market trends and growth opportunities.
- Assess the marketing and targeting strategies adopted by the banks, financial institutions and other wealth management companies for mass affluent customers.
- Assess the competitive dynamics in the banking sector to reach the mass affluent.

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