What Consumers Want: Cards in Australia
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Introduction
Meeting demand for clear answers to important industry questions, the What Consumers Want series provides country specific data, set against a global backdrop.
Scope
- The slide pack provides country specific primary data for the Australian cards market.
- The slide pack answers a number of questions on consumer behaviour including product holding and consumer motivation data
- The pack also presents analysis across income and age groups to strengthen and deepen insight
Highlights
The top four issuers dominate in the Australian credit card market with the majority of card holders having a card with one of these four.
The channel of opening corresponds closely with the type of credit card provider. Cards taken out with a main bank were more likely to be opened in a branch whereas issuers such as American Express are more likely to be contacted online.
50% of consumers are paying off their credit card balance in full. Nearly one in five paid back less than half of their balance whilst more than one in ten made no payment at all.
Reasons to Purchase
- This slide pack provides data essential for FS providers wishing to best position their product propositions given consumer attitudes and behaviours
- Primary data is used to profile Australian consumers against their global peers, providing insight into demographic and income variations
