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UK Mass Affluent 2001Published by: Datamonitor Published: May. 23, 2001 - 128 Pages Table of ContentsABOUT DATAMONITOR TABLE OF CONTENTS EXECUTIVE SUMMARY INTRODUCTION What is this report about? Who is the target reader? How to use this report MARKET CONTEXT Introduction Key findings Who are mass affluent customers? How are the needs of the mass affluent traditionally served? What are the drivers of change in the mass affluent market? An untapped market Increasing wealth and income levels Technology improves service Mass affluent wealth service providers Retail banking offering mass affluent services Investment banks offering mass affluent services Investment and retail bank partnerships Premier banking services Mass affluent product and service offerings Sizing the total mass affluent market Mass affluents with liquid assets/income of £30,000-100,000 Historic figures for the mass affluent market How much are they worth? Headline demographics of the mass affluent market Age Sex Location Ethnicity Employment CUSTOMER FOCUS Introduction Key findings Segment, segment, segment Segmentation of the mass affluent market Life stages of the mass affluent Investment product preferences of the mass market Stocks and shares are the preferred investment of the mass affluent Pooled investments are less popular with the younger age groups More than one in five mass affluents don't hold any investments The mass affluent are not as tax aware as they should be Multi-channel access is important to the mass affluent market Satisfaction levels are high for current accounts But an opportunity to poach customers does exist Remote account management is increasingly popular amongst the young mass affluent Life decisions of the mass affluent impact the services providers should offer COMPETITOR DYNAMICS Introduction Key findings Providers with existing mass affluent savings relationships Building societies the mass affluent savings favourites The service provision spectrum Three competition bands in the mass affluent market Competitor trends in the mass affluent market Competitors in the mass affluent market Level one competitors Inscape Merrill Lynch HSBC Create Level two competitors Close Charles Schwab Bank of Scotland inParallel solutions NatWest Private Banking THE FUTURE DECODED Introduction Key findings Hot issues in the mass affluent market Marketing and branding Vertical/horizontal expansion in the wealth management arena Income and wealth measures Passive and active investor segmentation The seedbed model Online only offerings The mass affluent service value chain Share of wallet Multi-product holdings Forecast of the size of the mass affluent market by income band Forecast of the size of the mass affluent market by liquid asset band ACTION POINTS Introduction Action points Understand your customers before you develop your service Build a tailored but complete product strategy Decide whether to partner, outsource or manage the service in-house Educate the mass affluent... And don't let them go! APPENDIX Methodology MORI Financial Services (MFS) Definitions Further reading Contacts SPP writing team How to contact (c) Datamonitor 2000. All Rights Reserved. AbstractThe UK mass affluent market has been the focus of much attention over the last eighteen months, as a number of high profile financial services companies have rushed to announce intentions to launch services tailored to this market. Datamonitor's market analysis report, 'UK Mass Affluent 2001', assists those companies wishing to target the mass affluent market and tackles the crucial questions of potential market size and key customer characteristicsGet Full Details About This Report >> |
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