What Consumers Want: Cards in the UK
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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 cards market.
- The slide pack answers a number of questions on consumer behaviour including product holding and consumer motivation
- The pack also presents analysis across income and age groups to strengthen and deepen insight
What Consumers Want: Cards in the UK
Highlights
Consumers in the UK are less motivated than consumers on average globally to take out a credit card simply because it comes with an account. They are also less driven by the ease of the application process or a card being the easiest to get.
Nearly a quarter of consumers with the top ten card issuers did not use their card in the previous month. For those who did most received a bill under GBP 2,500.
It is not only the financial incentives of loyalty that attract consumers in the UK. A low balance transfer rate is in the top three responses for a number of cards demonstrating that consumers want help to manage the debt they carry on their cards
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 independently profile UK consumers against global peers, whilst providing insight into demographic and income variations.
