Recently published research from Timetric, "2020 Foresight Report: Private Label Cards - Opportunities and Challenges in Asia-Pacific", is now available at Fast Market Research
Boston, MA -- (SBWIRE) -- 08/21/2013 -- Private-label cards (PLCs) have emerged as a lucrative investment tool for a range of organizations and retail stores in Asia-Pacific. The PLC sector has recorded substantial growth over the last five years across key markets, although it is still in a nascent stage in comparison with the overall cards and payments industry. The growth is currently being driven by prepaid cards and this is expected to continue over the coming five years. Taking its cue from western counterparts, with the exception of a few markets, the sector in the Asia-Pacific region has maintained a safe distance from private-label credit instruments. Furthermore, retailers have started to use analytics to their advantage, and the structured use of customer information has enabled them to develop effective strategies, such as exclusive offers tailored for particular cardholders for important occasions in their lives.
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Among the key countries studied in terms of closed-loop prepaid cards, the main PLC category in India shows the greatest potential in terms of an increase in the total number of closed-loop cards in circulation with forecast CAGR of 27.8% over 2012-2017. India will be followed by China with a CAGR of 14.2% over 2012-2017. However, China will continue to be the largest market for closed-loop prepaid cards, with the total number of cards in circulation expected to cross the 500 million mark by the end of 2017. Factors such as the rise of NFC-enabled POS terminals, urbanization, growth in retail sales and fuel consumption, increased use by the unbanked population, and the use of gift cards as tax incentives are expected to drive this growth.
- The PLC sector has recorded strong growth over the last five years across key Asia-Pacific markets, led by a boom in prepaid cards. This category has now become a key tool for issuers across key end markets - fuel and fleet, retail and phone, and transit - to drive revenues and reduce costs, leading to higher profitability.
- Marketing has improved with highly customized targeting across business-to-business and business-to-consumer customers. Corporate clients are being targeted for employee incentives and tax benefits, while PLCs are widely marketed as gift products to individuals.
- Among the key countries studied in terms of closed-loop prepaid cards, the main PLC category in India shows the greatest potential with forecast CAGR of 27.8% over 2012-2017.
- Retailers have started to use analytics to their advantage, and the structured use of customer information has enabled them to develop effective strategies, such as exclusive offers tailored for particular cardholders for important occasions in their lives.
Companies Mentioned in this Report: Myer, Harvey Norman, David Jones, Caltex, Shell, Sinopec, PetroChina, Indian Oil, Bharat Petroleum, Hindustan Petroleum, Exxon Mobil, Woolworths, Bunnings Warehouse, Starbucks, H&M, Metro, Dickson Group, Shoppers Stop, Titan Eye+, Reliance Digital
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