Dallas, TX -- (SBWire) -- 01/04/2011 -- Introduction
The Australian credit card landscape has undergone significant changes in the last few years, primarily driven by a shift in consumer demands and the recent global financial crisis. The recent changes may provide both opportunities and threats to Australian credit card industry and it is critical to understand their behavior to gain benefits from a specific consumer segment.
Features and benefits
Use these insights into the behaviour of Australian credit card cutsomers across four product lifecycles to shape your acquisition strategy
Identify new opportunities by uncovering different consumer attitudes towards credit cards across four consumer profiles
Achieve a high customer retention rate by understanding key switching factors for credit card consumers
Formulate strategies to attract specific consumer segments by uncovering the opportunities available across different consumer segments
Australian Credit Card Consumers 2010
Highlights
In the context of Australian FS providers, the importance of a segmented-strategy approach is becoming apparent, allowing issuers to identify and target the most attractive segments to achieve their goals as competition in credit card sector intensifies.
Datamonitor’s research shows that younger generations and frequent card users are more likely to switch cards than others. Overall, 3.35% of consumers have switched their credit cards in the last 12 months, an indication of poor customer experience. By understanding the key drivers on switching, FS providers can form efficient retention strategies.
In 2010, consumers have made a greater effort to repay their credit card debt in full, with 48.43% of consumers indicated that they are doing so every month. If this trend continues, this may means a threat to the current revenue model and thus the profitability of Australian credit card portfolio in the long term.
Your key questions answered
Which consumer segments may give the biggest threats and opportunities for credit card issuers in Australia?
How important are different credit card features to attract a specific card usage profile?
How can credit card issuers address some problems identified by consumers in applying over the internet?
Why consumers have changed the way they use their credit cards and the implications for current revenue models.
Australian Credit Card Consumers 2010
http://www.reportsnreports.com/reports/40883-australian-credit-card-consumers-2010.html
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Related Reports
Australian Credit Card Customers 2009
http://www.reportsnreports.com/reports/7885-australian-credit-card-customers-2009.html
2010 Worldwide Credit Card Issuing Industry Report
http://www.reportsnreports.com/reports/51290-2010-worldwide-credit-card-issuing-industry-report.html
UK Consumer Credit Market Outlook: Q2 2010
http://www.reportsnreports.com/reports/42228-uk-consumer-credit-market-outlook-q2-2010.html
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Australian Credit Card Consumers 2010