- INTRODUCTION AND ABBREVIATIONS
- Definitions
- Geographical, national and regional definitions
- Conversion factors
- BMRB Target Group Index sample sizes
- Lifestage groups
- ABBREVIATIONS
- EXECUTIVE SUMMARY
- Shifting population impacting financial markets
- Increased consumer lending
- New technology encourages increased financial activity
- Consumer confidence in financial institutions
- Mortgage market witnesses considerable growth
- Advertising focuses on customer care
- Consumer segmentation
- NI consumer segments
- Who is finance-friendly?
- New age consumers accept debt
- RoI consumer segments
- Telephone and Internet banking more popular in RoI
- Prudent Consumers star performers in pensions, mortgages and insurance markets
- Future defined through technology adoption
- MARKET DRIVERS
- POPULATION
- Figure 1: Breakdown of population, by age, NI, 2002-20
- Figure 2: Breakdown of population, by age, RoI, 2000-20
- Young adults
- Young couples
- Figure 3: Average age at marriage, by gender, NI and RoI, 2000-05
- Young families
- Mature families
- Pensioners
- GOVERNMENT FINANCIAL INCENTIVES
- SSIA
- ISA
- Pension reforms
- AVERAGE HOUSEHOLD SIZE
- Figure 4: Average household size, NI and RoI, 1997-2005
- INTEREST RATES
- Figure 5: Interest rates, NI and RoI, 2000-05
- CONSUMER CONFIDENCE IN FINANCIAL INSTITUTIONS
- CONSUMER CREDIT - REGULATION AND AWARENESS
- TECHNOLOGICAL DEVELOPMENTS
- SOCIO-ECONOMIC CLASSIFICATION
- Figure 6: Socio-economic classification, NI, 2001-05
- Figure 7: Socio-economic classification, RoI, 2001-05
- MARKET WITNESSING INCREASED FINANCIAL ACCESSIBILITY
- IN-HOUSE FINANCE
- ADAPTING TO CONSUMER NEEDS
- Accessibility
- Security
- Financial performance
- Transparency
- The personal touch
- MARKET SEGMENTS: FINANCIAL PRODUCTS
- STOCKMARKET INVESTMENT
- Figure 8: Stockmarket performance, FTSE, Dow Jones and Nikkei, 1995-2005
- Figure 9: Proportion of population with investments in stocks and shares, NI and RoI, 2000-05
- DEBIT CARDS
- Figure 10: Debit card ownership and usage, NI and RoI, 2000-05
- CREDIT CARDS
- Figure 11: Credit card ownership and usage, NI and RoI, 2000-05
- MORTGAGES
- Figure 12: Value of outstanding mortgages, NI and RoI, 2000-05
- SAVING ACCOUNTS
- Figure 13: Value of savings market, NI and RoI, 2000-05
- Increased prosperity benefiting savings market
- Figure 14: Segmentation of the savings account market, by revenue invested, NI, 2000-05
- Figure 15: Segmentation of the savings market, by revenue generated, NI, 2000-05
- Increased long-term saving in RoI
- Figure 16: Segmentation of the savings account market, by revenue invested, RoI, 2000-05
- Figure 17: Segmentation of the savings market, by revenue generated, RoI, 2000-05
- SUPPLY STRUCTURE
- Banks
- Abbey
- AIB GROUP (ALLIED IRISH BANK)
- Alliance & Leicester
- Bank of Ireland
- HBOS (HALIFAX BANK OF SCOTLAND)
- IIB
- Irish Life & Permanent plc
- Irish Life
- Permanent TSB
- National Irish Bank
- Northern Bank
- Ulster Bank
- FIRST ACTIVE (ULSTER BANK)
- BUILDING SOCIETIES
- Irish Nationwide
- Nationwide
- Northern Rock
- OTHER FINANCIAL INSTITUTIONS
- Post Office/An Post
- BCP Asset Management
- Quinn-Life
- Credit Unions
- ONLINE OPERATORS
- Cahoot.com
- Egg.com
- Rabodirect.ie
- NON-TRADITIONAL BANKING
- Supermarket banking
- Figure 18: Outline of financial services provided by Sainsbury's, Asda and Tesco, 2006
- Debt consolidation
- ADVERTISING AND SPONSORSHIP
- Consumer data highlight the importance of sponsorship
- Figure 19: Consumers attitudes towards advertising and sponsorship, NI, 2001-05
- Figure 20: Consumers attitudes towards advertising and sponsorship, RoI, 2001-05
- Building brands or selling products?
- CONSUMER SEGMENTATION
- Northern Ireland
- Figure 21: Population size of cluster groups, NI, 2005
- Figure 22: Cluster groups, by gender, age, socio-economic group, presence of children, working status and lifestage, NI, 2005
- TELEPHONE AND INTERNET BANKING PREVALENT AMONG PROSPEROUS
- Figure 23: Internet and telephone banking availability and usage (% difference from average), by cluster groups, NI, 2005
- Financial Traditionalists sceptical of change
- CREDIT CARD USAGE
- Figure 24: Plastic card usage and payment options (% difference from average), by cluster groups, NI, 2005
- BANK ACCOUNT OWNERSHIP
- Figure 25: Bank account ownership, type and usage of banks and building societies (% difference from average), by cluster groups, NI, 2005
- Low levels of loyalty among Financially Footloose consumers
- Financial Traditionalists prepared to switch accounts
- CREDIT FACILITIES
- Figure 26: Credit usage (% difference from average), by cluster groups, NI, 2005
- PENSION OWNERSHIP
- Figure 27: Pension ownership (% difference from average), by cluster groups, NI, 2005
- Financial Traditionalists prepared for retirement
- MORTGAGE OWNERSHIP
- Figure 28: Mortgage ownership (% difference from average), by cluster groups, NI, 2005
- Financially Footloose offset mortgage ownership in favour of improved lifestyle
- INSURANCE POLICY OWNERSHIP
- Figure 29: Insurance policy ownership (% difference from average), by cluster groups, NI, 2005
- Prudent Consumers most inclined to own insurance
- ATTITUDES TOWARDS FINANCIAL SCENARIOS
- Figure 30: Attitudes (% difference from average), by cluster groups, NI, 2005
- FINANCIALLY FOOTLOOSE CONSUMERS PREPARED TO ACCEPT DEBT
- PRUDENT CONSUMERS PLACE STOCK IN ETHICS
- EXPERT ADVICE INFLUENCES CONSTRAINED CONSUMERS
- FINANCIAL TRADITIONALISTS PLACE FAITH IN PROFESSIONALS
- SERIOUS SPENDERS PREFER PLASTIC
- REPUBLIC OF IRELAND
- Figure 31: Population size of cluster groups, RoI, 2005
- Cluster analysis
- Figure 32: Cluster groups, by gender, age, socio-economic group, presence of children, working status and lifestage, RoI, 2005
- INTERNET/TELEPHONE BANKING
- Figure 33: Internet and telephone banking availability and usage (% difference from average), by cluster groups, RoI, 2005
- Telephone banking important to Prudent Consumers
- Telephone banking adopted by Financial Traditionalists
- CREDIT CARD USAGE
- Figure 34: Credit card usage and payment options (% difference from average), by cluster groups, RoI, 2005
- Credit cards common among Prudent Consumers
- BANK ACCOUNT OWNERSHIP
- Figure 35: Bank account ownership (% difference from average), by cluster groups, RoI, 2005
- CREDIT FACILITIES
- Figure 36: Credit usage (% difference from average), by cluster groups, RoI, 2005
- Financial Traditionalists choose not to live beyond their means
- Serious Spenders are best credit customers
- PENSION OWNERSHIP
- Figure 37: Pension ownership (% difference from average), by cluster groups, RoI, 2005
- Serious Spenders contradict age factor
- MORTGAGE OWNERSHIP
- Figure 38: Mortgage ownership (% difference from average), by cluster groups, RoI, 2005
- Mortgage ownership high among Serious Spenders
- INSURANCE OWNERSHIP
- Figure 39: Insurance ownership (% difference from average), by cluster groups, RoI, 2005
- Insurance less important among Constrained Consumers
- ATTITUDES TOWARDS FINANCIAL SCENARIOS
- Figure 40: Attitudes (% difference from average), by cluster groups, RoI, 2005
- Financially Footloose lack financial confidence
- Prudent Consumers seeking convenience
- Constrained Consumers enjoy risk taking
- Financial Traditionalists shun debt
- Serious Spenders seek professional advice
- SUMMARY: WHO ARE THE FINANCE-FRIENDLY?
- Figure 41: Outline of cluster group usage of financial products, NI, 2006
- Figure 42: Outline of cluster group usage of financial products, RoI, 2006
- THE FUTURE
- CREDIT BOOM REACHING SATURATION
- TECHNOLOGY PLAYS EVEN GREATER PART IN FINANCE INDUSTRY
- PENSION MARKET CONTINUES TO GROW
- LEGISLATIVE CONTROL TO INCREASE
- APPENDIX: RESEARCH METHODOLOGY
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