Non-traditional Financial Services to the Unbanked, Underbanked and WhyBank? in the U.S. documents and analyzes financial services product usage by unbanked, underbanked and convenience/price driven consumers (WhyBanks?). It examines consumer demographics, market size by product category and promotional initiatives and strategies used to gain market share and to establish new products through sales channels.
While market research studies have traditionally focused on immigrants’ use of wire transfer services and the underbanked’s use of check cashing outlets and payday lenders, the huge untapped growth area for non-traditional financial services is among young consumers cherry-picking channels and products and services based on price and convenience and among a growing consumer segment roiled by credit woes, economic constraints resulting from declining incomes, receding employment opportunities and a surging vortex of rising healthcare and medication costs crossing with disappearing employer provided health insurance. These consumer stress points compromise the credibility and brand strength of mainstream financial players.
The report provides five year forecasts of market size for the overall nontraditional financial services market, payday lending industry revenues and transaction volumes for money orders, peer-to-peer lending, wire transfers and prepaid debit cards.
Non-traditional Financial Services to the Unbanked, Underbanked and WhyBank? in the U.S., a new report from Packaged Facts, analyzes the U.S. market for nontraditional financial services targeting the unbanked, underbanked and WhyBank? consumer segments. The report identifies the composition, behaviors and psychographics of each population and then focuses on the companies and products targeted to each group. Finally, the report analyzes current marketplace initiatives devoted to capturing these consumers and their income devoted to financial services product usage.
The information in Non-traditional Financial Services to the Unbanked, Underbanked and WhyBank? in the U.S. is based on primary research, including interviews with industry participants, and secondary research including articles appearing in financial, marketing, and trade publications, government business and financial regulatory agencies data, company literature, independent financial reports, and product advertising. Statistics on market revenues and marketer share are based on an evaluation of all available information on market sales and trends, including data for the top providers to unbanked and underbanked consumers, data from SEC company filings; and trends and figures reported by the trade press. The analysis of consumer demographics and product usage rates primarily derives from the Simmons Market Research Bureau (New York, New York) Fall 2006 consumer survey.
About the Author
Elizabeth Rowe was the senior banking expert at Guideline, Inc. (a New York consultancy/business advisory firm) for 11 years, directing research covering the retail and commercial banking industries.
She has worked with the nation's largest banks as they assess new technologies, track emerging issues and trends in their industry and benchmark against new and traditional competitors.
She has taught at the ABA School of Bank Card Management and frequently speaks at conferences. She has been widely quoted in the financial press including The Economist, The Wall Street Journal, American Banker, Forbes, the Daily Deal, CNN/fn and Money Management Executive.
Rowe is the author Packaged Facts 2007 report, Corporate Credit Cards in the U.S.
What You’ll Get in this Report
Non-traditional Financial Services to the Unbanked, Underbanked and WhyBank? in the U.S. makes important predictions and recommendations regarding the future of this market, and pinpoints ways current and prospective players can capitalize on current trends and spearhead new ones. No other market research report provides both the comprehensive analysis and extensive data that Non-traditional Financial Services to the Unbanked, Underbanked and WhyBank? in the U.S.offers.
Plus, you’ll benefit from extensive data, presented in easy-to-read and practical charts, tables and graphs.
How You Will Benefit from this Report
If your company is already doing business in the unbanked and underbanked markets, or is considering making the leap, you will find this report invaluable, as it provides a comprehensive package of information and insight not offered in any other single source. You will gain a thorough understanding of the current market for non-traditional financial services markets, as well as projected markets and trends through 2011.
This report will help:
Chapter 1 Executive Summary
Chapter 2 Market Size and Growth
Chapter 3 The Consumer
Chapter 4 Products and Marketers
Chapter 5 Marketing Strategies
Chapter 6 Retailer Slugfest
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