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Private Label Credit Cards in the U.S., 9th Edition


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Private Label Credit Cards in the U.S., 9th Edition

Packaged Facts provides a concise overview of trends shaping the private label credit cards market, giving you efficient insight into themes and topics taken up in thorough detail. Private Label Credit Cards in the U.S., 9th Edition covers the U.S. market for private label credit cards, emphasizing retail credit card program features and benefits analysis, retail card strategies and growth trends among bank and non-bank issuers, and trend and opportunity spotting.


Trends & Opportunities in the Private Label Credit Cards Market

The retail industry is shifting quickly to mobile, premised on the customer's expectations of getting what they want in an immediate context. These growing demands for consumers convenience are readily apparent in the private label credit card market. The shift to mobile in the private label credit card industry is brought about by a mixture of mobile app technology, customer relationship management advances, geolocational marketing initiatives, and closed loop virtual card payments.

For retailers, private label credit card platforms are increasingly essential for growth (and, sometimes, survival) as part of digital- and mobile-forward customer relationship and loyalty strategies.  As tabulated in this report, pivate label card usage trends are positive, and our proprietary consumer survey research findings indicate that the cards can meaningfully influence in-store payment decisions, retail purchasing, and personal information sharing. Per our analysis of the industry Victoria’s Secret credit card and loyalty program exemplifies the movement to social marketing tactics, while New York & Company is upsetting the apple cart with a mobile app that can transact in-store payments. Technological advances will continue to drive retailer interest in private label card programs, as the movement to virtual private label cards housed within retailer mobile apps foretells the eventual demise of the physical card.



Private Label Credit Cards in the U.S., 9th Edition provides a wealth of actionable insight on trends shaping the resurgent private label credit card industry.  The competitive intelligence in this report specifically includes:
  • Assessing the leading private label credit cards from the following retailers: Best Buy, Express, GameStop, The Gap, J.C. Penney, Kirkland’s, Kohl’s, Lowe’s, Sears, Shell, Target and Victoria’s Secret—to gauge program differentiation and related features and benefits; rewards and loyalty program structure; and online/mobile positioning.
  • Tracking the industry shift to mobile and digital, including mobile credit applications, the central role of mobile apps, mobile payments, multi-tender loyalty programs and enhanced data analytics.
  • Assessing the degree to which a variety of private label credit card features and benefits would incentivize consumers to sign up for a new private label credit card and to use a private label credit card more often.
  • Analyzing consumer shopping behaviors; social media brand & product engagement; and relationship between store card use and retail purchasing & information sharing.
  • Assesses the impact store cards have on the type of payment used at the point of sale; receptivity to promotional marketing; and tendency to act on that marketing.
  • Estimating loans outstanding and purchase value for the U.S. private label credit card industry by issuer for 2014, and a receivables and volume forecast for 2015-2017.
  • Analyzing the U.S. private label card programs operated by North America’s leading financial institutions, including Alliance Data Systems, Citi Retail Services, Capital One, Synchrony Financial Services and Wells Fargo, including growth strategies, private label card purchase value and loans outstanding by retailer, number of retail partners.
  • Trending branded credit card and store card usage penetration, usage in past 30 days, and monthly usage frequency during 2004-2014, including demographic analysis for these metrics.


  • Executive Summary
    • INTRODUCTION
    • Report Scope
      • Market size and forecast
    • Trends & opportunities
      • Transitioning to a digital world
      • The card fades into the background
    • Private label retail card landscape
      • My Best Buy Credit Card differentiation: robust rewards; major omni-channel loyalty push
      • ExpressNext Credit Card Differentiation: hitting Millennials were they live
      • GameStop PowerUp Rewards Credit Card differentiation: aggressive loyalty platform
      • GapCard: steady as she goes
      • JCPenney Credit Card: strong incentive to spend now and return quickly
      • Kirkland's Credit Card: rewards program kicks it up a notch
      • My Kohl's Charge: easy to understand, simple
      • Lowe's Consumer Credit Card Differentiator: card customization
      • Sears Card differentiator: Strong loyalty program association; weak rewards
      • Shell Drive for Five Credit Card: part of a larger credit puzzle; straightforward pitch
      • Target REDcard: ongoing upfront discount and novel approach to mobile
      • Victoria's Secret The Angel Credit Card: targeting the customer and social media
    • Private label bank issuers
      • Alliance Data Systems
      • Capital One Financial
      • Citi Retail Services
      • Synchrony Financial Services
      • Wells Fargo
    • Private label non-bank issuers
      • Nordstrom
      • Signet Jewelers
    • Private label credit card usage trends
      • Trends over time
      • General-purpose and store credit card usage & usage in past 30 days
      • Demographic analysis
    • Private label credit card usage motivators
      • Influence on point of sale payment method & customer receptivity to promotions
      • Private label card signup & usage frequency influencers
    • Shopping frequency, shopping & social media attitudes
      • Men vs. women
  • Overview
    • Major retailer benefits: usable data and customer loyalty
    • Major cardholder benefit: buying power
  • Market Size and Forecast
    • Loans outstanding and purchase value by issuer
      • Table U.S. Private Label Credit Card Loans Outstanding & Purchase Value, by Issuer, 2014
    • Private label issuer loan and purchase value trends
      • Table U.S. Credit Card Loans Outstanding & Purchase Value: Synchrony Financial Services, Citi Retail Services & Alliance Data Systems, 2012-2014
      • Private label issuers' cobrand share
        • Table U.S. Private Label & Co-brand Credit Card Loans Outstanding & Purchase Value: Alliance Data Systems, Citi Retail Services & Synchrony Financial Services, 2014
    • Private label cards market forecast
    • Post-recession private label usage rebound
  • Trends & Opportunities
    • Transitioning to a digital world
      • Shift to mobile
      • What it all means
      • Mobile customer acquisition
      • For your best customers: A remote control to the entire brand
        • Table Share of JCPenney Online Traffic, by Device, 2012-2014
      • Location-based marketing is here
      • Interactive in-store experiences
      • Digital cards
      • The card fades into the background
      • Building loyalty
      • Multi-tender loyalty programs
    • To co-brand or not to co-brand?
  • Private Label Retail Card Landscape
    • My Best Buy Credit Card
      • Differentiation: robust rewards part of major omni-channel loyalty push
      • Rewards: the nuts and bolts
      • Program enhancements and changes
      • Online and mobile
    • ExpressNext Credit Card
      • Differentiation: hitting Millennials were they live
      • Rewards
      • Online and mobile
    • GameStop PowerUp Rewards Credit Card
      • Differentiation: bare-bones card; aggressive loyalty platform
      • Loyalty program: nuts and bolts
      • The marketing makes a mark
      • Online and mobile
    • GapCard
      • Differentiation
      • Solid signup and rewards mix
      • Spend $800 and get upgraded to Gap Silver
      • Online and mobile
    • JCPenney Credit Card
      • A rich mix of incentives and rewards
      • Online
    • Kirkland's Credit Card
      • Differentiation
      • Rewards made easy
      • Online and mobile
    • My Kohl's Charge
      • Differentiation
      • Yes2You Rewards
      • Online and mobile
    • Lowe's Consumer Credit Card
      • No-interest financing at sign up
      • The fine print
      • Differentiator: card customization
      • Online and mobile
      • Rewards in Name Only
    • Sears Card
      • Differentiator: Strong loyalty program association
      • Shop Your Way Rewards
        • Table Sears Card Shop Your Way Rewards
        • Table Sears Card VIP Tiers
      • Online and mobile
    • Shell Drive for Five Credit Card
      • Differentiation
      • Rewards
      • Online and mobile
    • Target REDcard
      • Differentiator
      • Online and mobile
    • Victoria's Secret Angel Credit Card
      • Differentiation
      • The nuts and bolts
        • Table Adults Who Shopped at Victoria's Secret in Past Three Months & Past Four Weeks, by Demographic, 2014
      • Embracing social with a passion
      • Information is power
  • Private Label Bank Issuers
    • Alliance Data Systems
      • Competitive positioning
      • Retail partner momentum
        • Table Alliance Data Systems: Q1 2013 Private Label Credit Card Retailers
      • Key private label credit card retailer accounts
        • Table Alliance Data Systems, Purchase Value & Loans Outstanding by Major Retail Partner, 2014
      • Performance analysis
        • Table Alliance Data Systems Private Label Revenue, Volume, Receivables and Account Trends, 2009-2014
      • A look inside Alliance Data's subsidiary banks
        • Table Alliance Data Systems: Comenity Bank & Comenity Capital Bank Card Metrics, 2014 (in millions of dollars)
    • Capital One Financial
      • Competitive positioning
      • Acquisitions and sales
      • Retail partnerships
      • Performance analysis
        • Table Capital One Financial Corporation: U.S. Credit Card Purchase Value and Loans Outstanding, 2011-2014
      • Private label share
        • Table Capital One Financial Corporation: U.S. Private Label Credit Card Purchase Value, Selected Programs, 2014
    • Citi Retail Services
      • Retailer partnerships
        • Table Citi Retail Services Retail Private Label & Co-brand Partners, 2015
      • Key retailers
      • Performance analysis
        • Table Citibank North American Card Purchase Value & Loans Outstanding: Retail Services vs. Citi-Branded, 2010-2014
        • Table Citi Retail Services: Credit Card Purchase Value, Loans Outstanding and Open Accounts, 2010-2014
    • Synchrony Financial Services
      • Overview
        • Table Synchrony Financial Services Synchrony Financial Purchase value, Loan Receivables, Accounts and Revenue, by Segment, 2011-2014
        • Table Synchrony Financial Services Purchase value, Loan Receivables, Accounts and Revenue, by Segment, Q1 2014 vs. Q1 2015
      • Payment Solutions
      • Retail Card
        • Table Synchrony Financial Services: Major Private Label/Co-brand Retail Partners, 2015
      • Growth strategies: grow private label share of partner sales & grow partners
        • Table Synchrony Financial Credit Card Trust Loan Receivables & Account Share, 2015 (in millions of dollars and of accounts)
        • Table Synchrony Financial Private Label Credit Card Receivables, by Retail Partner, 2015
      • Performance analysis
        • Table Synchrony Financial Retail Card Purchase Value, Receivables & Partners, 2011-2014 & Q1 2014-2015
        • Table Synchrony Bank Credit Card and Loan Metrics, 2014 (in millions of dollars)
    • Wells Fargo
      • Table Wells Fargo Retail Private Label & Co-brand Partners, 2015
  • Private Label Non-Bank Issuers
    • In-House Programs: Nearing Extinction
    • Nordstrom
      • Nordstrom Rewards
      • Big changes
      • Program metrics
        • Table Nordstrom Credit Card Metrics Analysis, 2010-2014
      • Nordstrom FSB income, loan and unused credit line analysis
        • Table Nordstrom FSB Net Income and Credit Card Interest & Noninterest Income, 2014 (in millions of dollars)
    • Signet Jewelers
      • Table Sterling Jewelers U.S. Credit Program Metrics, 2011-2015
  • Private Label Credit Card Usage Trends
    • INTRODUCTION
    • Credit card usage trends over time
      • Percentage of credit card users on the upswing
      • Department store card usage growth outstrips branded credit card usage growth
      • Active department store card rebound much stronger than general-purpose card increase
        • Table Credit Card Usage Past 30 Days: General-Purpose Cards vs. Department Store Cards, 2004-2014
      • But usage frequency among active general-purpose cared users leads department store cards
        • Table Credit Card Usage Frequency Share, Department Store Cards vs. General-Purpose Cards, 2004-2014
    • General-purpose and store credit card usage & usage in past 30 days
      • Store card engagement trails branded counterparts
        • Table General-Purpose & Store Card Usage, Active Usage & Engagement Rate, 2014
    • Demographic analysis
      • Women continue to drive private label credit card use
        • Table General-Purpose & Store Credit Card Usage & Active Usage, by Demographic, 2014
        • Table General-Purpose & Store Card Monthly Usage Frequency, by Demographic, 2014
  • Private Label Credit Card Usage Motivators
    • Store credit card used most often: payment preferences at retailer
      • Store credit card is preferred method of payment
      • Preferences by demographic
        • Table Store Card Used the Most: Forms of Payment Used at Store Retailer, by Demographic, 2015
    • Store credit card influence on shopping frequency
      • Table Store Card User Tendency to Shop More Often at Retailer, by Demographic, 2015
    • Views on receiving promotional information from store credit card merchant
      • Table Store Card User Views on Receiving Promotional Information from Retailer, by Demographic, 2015
    • Acting on receipt of promotional information from store credit card merchant
      • Table Store Card User Tendency to Act on Receipt of Promotional Information from Retailer, by Demographic, 2015
    • Private label card signup & usage frequency influencers
      • Motivator roundup
      • Motivators more likely to influence sign up than increased usage
        • Table Private Label Credit Card Motivators to Apply for Card & Use Card More Often: Users & Active Users, 2015
      • Gender rules
        • Table Private Label Credit Card Usage Motivators: Non-Active Users, by Gender, 2015
      • Age
        • Table Private Label Credit Card Usage Motivators: Non-Active Users, by Age, 2015
      • HH income
        • Table Private Label Credit Card Usage Motivators: Non-Active Users, by HH Income, 2015
  • Shopping Frequency, Shopping & Social Media Attitudes
    • Shopping frequency, shopping & social media attitudes
      • Men vs. women
        • Table Shopping Frequency and Shopping & Social Media Attitudes, by Gender, 2014
        • Table Shopping Frequency and Shopping & Social Media Attitudes Among Female Store Credit Card Users, 2014
  • Appendix
    • Methodology
      • Consumer survey methodology
    • Market size and forecast
    • Report table interpretation
    • Terms and definitions

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