Mass Affluents in China: Product Holding and Preferences is a new market research publication announced by Reportstack. Mass affluent populations around the world are growing in size, making them an increasingly important segment for financial providers. These consumers possess more financial products than average, maintain higher levels of savings and investments, and are more likely to use added-value services. This makes them an attractive and profitable segment to target.
- Mass affluents are more inclined than retail consumers to keep their savings with their main bank. More than three quarters (76%) of mass affluents use the same provider for both products, which is marginally greater than the 70% of retail consumers. This also makes mass affluents a particularly valuable segment in which to drive cash flow for lending operations.
- ICBC enjoys a strong lead over its rivals in the current account market, with a 27% share among mass affluents vs 25% for the retail market. China Construction Bank follows closely with a market share of 24%. Collectively, the top three banks hold 64% of the mass affluent market in China.
- Conditions appear favorable for future growth in P2P lending in China, with 66% of mass affluents claiming to be happy to borrow from such a lender, and 50% happy to invest funds in this sector. Regulators need to ensure strict oversight in order to prevent any major losses that may dent consumer confidence.
To access full report with TOC, please visit Mass Affluents in China: Product Holding and Preferences.
Mass Affluents: Product Holding and Preferences in China report is one of a series of snapshots offering insight into the mass affluent consumer segment in China. It examines mass affluents' financial product holdings in detail. This snapshot is based on findings from our 2015 Retail Banking Insight Consumer Survey.
The snapshot offers insight into:
- Which providers consumers use for their current accounts, savings accounts, mortgages, and loans, and the extent to which banks are cross-selling to this segment.
- The factors that drive mass affluents' choice of financial products.
- Which product features are favored by mass affluents.
Reasons To Buy
- Improve your targeting of mass affluents in China by learning about their preferences with respect to product features.Identify the key factors that drive mass affluents' choice of providers.
- Understand the extent to which mass affluents are using P2P lenders
China Everbright Bank Bank of China China Development Bank ICBC China Construction Bank PPDAI WeLend CreditEase Webank NAB Agricultural Bank of China HSBC China Postal Savings Bank of China China Merchants Bank SPD Bank Bank of Beijing Bank of Communications Ping An Bank Bank of East Asia Baixin Bank ICICI Bank Baidu and People's Bank of China.
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