Insight Report: Banking the Mass Affluent
Released on 11th May 2015
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Insight Report: Banking the Mass Affluent analyzes the potential of mass affluent consumers in retail banking industry. Following the financial crisis, banks have been pressurized to re-evaluate their strategies and seek alternative sources of profit as economic conditions declined and competition increased. In this altered environment, banks have adopted various strategies to decrease operating costs and increase revenue potential. Consequently, the banks globally changed their business models to focus more on segments that yield larger profits. Mass affluent consumers are one such segment, offering significant profit potential compared to the mass market due to their relatively high income, frequent travel, and increased spending.
The report extensively details mass affluent consumers and their sub-groups, their various financial goals, behaviors and investment trends, and their future financial requirements. It includes in-depth analysis of various strategies adopted by banks across the world to attract mass affluent consumers. The use of digital technology in service delivery and the role of data analytics in determining future courses of action for banks are also extensively discussed. The report also diagnoses the limitations and hindrances faced by banks in designing customer-specific offerings, and includes case studies on strategies and products devised by banks to acquire mass affluent consumers.
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Timetrics Insight Report: Banking the Mass Affluent provides top-level market analysis, information and insights into mass affluent consumers in the retail banking industry. It covers:
An in-depth analysis of mass affluent consumers and trends they exhibit across the world.
Extensive analysis of mass affluent consumer sub-groups, and their diversified needs and requirements.