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Non-Standard Credit Card Lending in the UK 2005Product Type: Market Research ReportPublished by: Datamonitor Published: May 2005 Product Code: R313-8497 Description IntroductionThe non-standard credit card market presents issuers with a clear opportunity. However, it is not a market to be entered lightly. How big is this market? What are the potential gains and risks? How can issuers succeed? This briefing provides the answers. Scope This briefing examines the opportunities for issuers in supplying credit cards to those traditionally refused credit from mainstream lenders In depth analysis of the way in which this market differs from the mainstream, particularly in terms of underwriting, product pricing and marketing This briefing contains estimates for the size of the UK non-standard credit card market for 2003 and 2004, as well as forecasts to 2009 While this brief is UK focused, there are a number of transferable lessons that apply to credit card markets in other countries Highlights Datamonitor estimates that there were 9.6 million credit cards in issue to individuals classified as non-standard in 2004. The bulk of these cards are held by self-employed consumers with no other reason to be considered non-standard. However, while penetration amongst the remaining non-standard population is low, it is beginning to grow. Serving this segment requires issuers to fundamentally change the way in which they assess the risk posed by customers with specialist needs, and may even necessitate the creation of an entirely new business model depending on the extent to which a lender wishes to move down the risk scale. Despite a projected decline in the non-standard population, Datamonitor forecasts that the non-standard credit card market will enjoy strong five-year growth. This will be driven by an increase in cardholding amongst the lower end of the non-standard population, due to greater issuer competition and improvements in underwriting techniques. Reasons to Purchase Discover the current size of the UK non-standard credit card market and see Datamonitor's forecast for the market to 2009 Understand the key differences between this market and the mainstream, and how incumbent players have overcome these difficulties Benchmark your existing or planned business model against that of existing competitors in the non-standard credit card space Table of Contents TABLE OF CONTENTSDATAMONITOR HEALTHCARE 2 SECTION 1 ACTION POINTS 5 Outline of the brief 5 Three key things you need to know about the patient/physician interface 5 There is a significant gap between the proportion of surveyed consumers who use the Internet to search for health information and those that think the Internet has an impact on their relationship with their physician. Pharmaceutical companies need to use their website offerings to help close this gap 6 The largest group of surveyed consumers who have not used the Internet to look for health information, 37 per cent, said they have no reason or cause to use the Internet to look for health/medical information because they have not been ill. Pharmaceutical companies need to reach out to this group with more general health information 6 One in three European consumers surveyed stated they would be interested in using compliance tools delivered on wireless devices. Pharmaceutical companies can offer such services to build relationships with consumers. 7 SECTION 2 THE SHIFTING PATIENT/PHYSICIAN INTERFACE 8 Introduction 8 Methodology 8 The Internet and the patient/physician interface 9 Perceptions of the impact of the Internet 9 Patients steer use of the Internet 11 The impact on the PPI is positive 12 Implications for pharmaceutical companies 13 Patient Internet use 14 Reasons for not using the Internet 14 Demographics and type of information 16 Type of website 17 Implications for pharmaceutical companies 18 SECTION 3 THE FUTURE DECODED 19 Current rates of consumer mobile use for healthcare purposes 19 Consumer demand for health information and services using mobile technology 21 SECTION 4 APPENDIX 24 References 24 SPP writing team 24 How to contact experts in your industry 25 |
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