ResearchMoz added Latest Research Report titled " Mass Affluent consumer segment in Singapore - Individualism: Global Market Size, Shares, Trends, Growth, Survey and Forecast report " to it's Large Report database.
Albany, NY -- (SBWIRE) -- 06/16/2016 -- Mass affluent populations around the world are growing in size, making them an increasingly important segment for financial providers. These consumers possess more financial products than average, maintain higher levels of savings and investments, and are more likely to use added-value services. This makes them an attractive and profitable segment to target.
- DBS and POSB, a sub-brand owned by DBS, dominate the current account market for mass affluents, with a combined share of 56%. DBS outperforms in this segment relative to the mass market, due in part to its Multiplier Programme incentive scheme, which offers rewards that escalate in line with the number of products held.
- Locality and branch location are the two biggest drivers of choice of savings provider, suggesting that banks should continue to maintain a physical presence despite the growing importance of digital channels. Personal recommendation is also a key driver, meaning that banks must focus on advocacy scores.
- The Singapore mortgage market is dominated by the state-backed Housing & Development Board (HDB). Among commercial lenders, DBS is the clear leader, with a range of products including fixed and SIBOR-linked variable rate loans, as well as HDB loans that are cheaper than those available directly from HDB for the first five years.
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Verdict Financials Mass Affluents: Product Holding and Preferences in Singapore is one of a series of snapshots offering insight into the mass affluent consumer segment in Singapore. It examines mass affluents financial product holdings in detail. This snapshot is based on findings from our 2015 Retail Banking Insight Consumer Survey.
The snapshot offers insight into:
- Which providers they use for their current accounts, savings accounts, mortgages, and loans, and the extent to which banks are cross-selling to this segment.
- The factors that drive mass affluents choice of financial products.
- Which product features are favored by mass affluents.
Reasons To Buy
- Improve your targeting of mass affluents in Singapore by learning about their preferences with respect to product features.
- Identify the key factors that drive mass affluents choice of providers.
- Understand the extent to which mass affluents are using P2P lenders.
Browse detailed Market Insights at: http://www.researchmoz.us/mass-affluents-product-holding-and-preferences-in-singapore-report.html
Table of Contents:
- Current Accounts
- Savings Accounts
- Personal Loans
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