Competitor market shares and developments in the UK Plastic Card Market

리서치사	Datamonitor
발행일	2009년 08월	상품코드	98779
페이지 정보	53 pages
가격	US $ 2,795 ￦ 3,330,200 PDF by E-mail (Single User License) US $ 6,988 ￦ 8,326,200 PDF by E-mail (Global Site License)

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Abstract

Introduction

The UK payment card market is dynamic and ever shifting, as issuers adopt different strategies to compete. Featuring detailed consumer data for the very first time, this brief provides up to the minute intelligence on how all of the competitors in the UK market are performing, with granular market share data and analysis of the key market developments.

Scope of this research

Includes figures for all of the major UK credit issuers including number of cards, frequency of use, transaction values,and balances outstanding.
Features detailed consumer behaviour data at the card issuer level, from Datamonitor' s proprietary Financial Services Consumer Insight survey
This brief includes up to date information on changes within the private label and prepaid cards markets.
An analysis of the key developments in UK plastic cards is included, with real world examples of the strategies being followed by the leading players.

Research and analysis highlights

Lloyd' s Group has now become the leading player in the UK credit card market following its acquisition of HBOS. However Lloyd' s faces stiff competition from more pro-active players such as Barclaycard and Tesco Personal Finance.

Consumer behaviour data shows that cards that incentivise consumer have higher usage rates, particularly for day-to-day transactions. However these cards also hold higher repayment levels, limiting their profitability for issuers.

While up to 50% of Barclaycard cardholders pay off their balance in full each month, repayment rates range from 83% to 18% across different issuer brands. With unemployment growing repayment levels are likely to drop in the near term, with up to 6% of cardholders reporting they made no payments on their balances outstanding in June 2009

Key reasons to purchase this research

Stay ahead of the competition with up to date market data on all of the major UK issuers in credit, debit, private label, and prepaid cards.
Delve deeper into realworld cardholder behaviour and understand not just what cards consumers have, but what they do with them.
Move with the market by understanding what todays market leaders are doing, and how others are adapting to a changing environment.

OVERVIEW

Catalyst
Summary
Methodology

COMPETITOR SHARES AND DEVELOPMENTS IN THE UK CARD MARKET

Lloyds Group is now the largest credit card issuer by cards in issue
- Barclaycards remains by far the dominant credit card brand
- Barclaycard has the largest portfolio of ‘primary' cards
- The number of standard and premium cards by brand highlights the largest issuers' mass market strategy
- Usage and primacy rates are driven by card features
- The number and value of transactions per issuer is broadly in line with market share
- Usage rates are low for most cards despite high rates of primacy

Lloyds Group has the highest value of balances outstanding
- Not surprisingly, Citigroup and MBNA continue to have the highest balance per card on average
- Repayment rates are significantly higher for cards providing incentives for transacting

The debit card market is led by the major high street retail banks
- Barclays' leads the market, with 9.9 million debit cards in issue
- Debit is growing strongly in day to day use

Santander now leads the private label card market
- Private label usage rates are likely to drop as a result of the recession

Prepaid cards have strong growth potential, but are likely to remain niche
Barclaycard, Tesco Personal Finance and Santander have performed strongly in 2009
- Barclaycard is pushing forward in creating incentives for card usage
- Tesco Personal Finance is poised for strong growth as it moves to become a bank
- Santander will expand in the cards market, to the detriment of MBNA

Card issuers must choose between diversifying and refocusing on core strengths

APPENDIX

Definitions
- (Untitled sub-section)

Methodology
- (Untitled sub-section)

Further reading
Ask the analyst
Datamonitor consulting
Disclaimer

TABLES

Table: Consumer perceptions of the features on their credit card by brand
Table: UK prepaid cards by number of cards in issue by brand and issuing group
Table: Prepaid transaction by type, frequency, value and average balance per card per year
Table: Current relevant publications, 2008 - 09
Table: Future relevant publications, 2009

FIGURES

Figure: Following the merger with HBOS, Lloyds now dominates the market
Figure: The newly formed Lloyds Group is now the UK market leader with 22.3% of cards in issue in H1 09
Figure: Barclaycard is the largest player by brand ahead of both Lloyds TSB, and HBOS
Figure: Barclaycard by far has the highest number of primary cards in the market
Figure: Tesco and John Lewis/Waitrose are the primary card for more than 75% of their customers
Figure: 40% of Barclaycard' s cards in issue are premium branded
Figure: There were 278 million transactions made on Barclaycard branded credit cards in 2008, ahead of NatWest and Lloyds TSB branded products
Figure: Transaction values follow a very similar pattern to transaction numbers, with Barclaycard and NatWest leading the market in 2008
Figure: Regardless of total transaction values, average spend per transaction is highly variable
Figure: Tesco and American Express have the highest proportion of cards that are used all the time
Figure: Lloyds Group now has the highest level of balances outstanding, followed closely by MBNA
Figure: Lloyds holds 21% of the market by balances outstanding but is closely followed by MBNA at 20%
Figure: Citigroup has the highest average balance per card, growing 30% since June 2007
Figure: Repayment rates are higher for cards with rewards and incentives, with cardholder most likely to revolve on Virgin Money and MINT cards
Figure: The number of debit cards in issue has increased in H1 2009
Figure: The debit card market is evenly divided between the dominant big leading banks
Figure: POS makes up more than 70% of all debit transactions by volume
Figure: POS accounts for 60% of all debit transactions by value
Figure: Average spend levels are highly variable by issuer
Figure: Santander is by far, the dominant issuing group of private label cards as at H1 2009
Figure: Debenhams is the leading brand for private label store cards
Figure: The private label sector is fragmented, with Debenhams leading with a 17% market share
Figure: The overall number of cancelled private label cards in the UK market is high
Figure: With the highest brand awareness, Virgin and PayPal lead the prepaid cards market
Figure: The prepaid cards sector is dominated by four issuers accounting for 75% of the market
Figure: POS dominates prepaid card usage, with £5.5 billion of POS transactions in 2008
Figure: Barclaycard used viral marketing techniques as part of its campaign
Figure: MyBarclaycard will offer users in-depth online card management services
Figure: Barclaycard is strengthening its branding with younger consumers through strategic sponsorship
Figure: The Santander rebranding of Abbey has begun in London