Travel Money - UK - May 2014
There are opportunities for big name brands in the fragmented travel money market, where price often comes secondary to convenience, and consumers prefer the reassurance of a well-known brand. Brands have the opportunity to take advantage of the potential growth of pre-paid cards. However, if they are to do so, currency cards must be repositioned as a safe and convenient way to carry cash rather than as an alternative to credit or debit cards.“There are opportunities for big name brands in the fragmented travel money market, where price often comes secondary to convenience, and consumers prefer the reassurance of a well-known brand. Brands have the opportunity to take advantage of the potential growth of pre-paid cards. However, if they are to do so, currency cards must be repositioned as a safe and convenient way to carry cash rather than as an alternative to credit or debit cards.
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Table of Content
Introduction
Abbreviations
Executive Summary
The market
Value of overseas spending expected to increase
Figure 1: Forecast for annual spending abroad by UK residents, 2008-18
Market factors
Overseas visits increased in 2013
Companies, brands and innovations
Brand promotion
Figure 2: Top 4 advertisers of travel money services (including foreign currency pre-paid cards), 2013/14
Who’s innovating?
The consumer
Travel and holiday trends
Figure 3: Holiday and travel trends, March 2014
Methods of spending abroad
Figure 4: Methods of spending while abroad, March 2014
Ways of arranging and collecting foreign currency
Figure 5: Ways of arranging foreign currency, March 2014
Attitudes towards using payment cards abroad
Figure 6: Attitudes towards using payment cards abroad, March 2014
Attitudes towards pre-paid cards
Figure 7: Attitudes towards pre-paid cards, March 2014
Attitudes towards travel...