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  4. > 2020 Foresight: Banking The Mass Affluent

2020 Foresight: Banking The Mass Affluent

  • January 2014
  • -
  • WealthInsight
  • -
  • 58 pages

Synopsis

The report provides top-level market analysis, information and insights, including:
• Insights about the mass affluent banking market, its global market size and forecast with regional breakdowns.
• Focus on the mass affluent customer segment, and charting of the spending behavior of the mass affluent with an emphasis on the banking sector.
• Key factors that are driving and generating new opportunities for the mass affluent market.
• Analysis of the marketing, advertising and targeting strategies adopted by banks, supported with examples and case studies.

Summary

The mass affluent population is rapidly growing and accounted for a 7.41% share of the world’s population in 2012. Although it is a relatively small segment in volume terms, it holds around 40% of the total world’s wealth. In volume terms, the US is the leading country with a mass affluent population of 77.77 million. In regional terms, Europe has the largest mass affluent population while the Asia-Pacific is the fastest-growing.
The mass affluent population is an entirely separate group of customers who are demographically and economically different from HNWIs and the mass market. Their lifestyle, spending behavior and attitudes are unlike those of the rest of the population.
The mass affluent category has a different approach to money management, and displays a preference for spending and investments. The mass affluent have different lifestyles and tend to spend more on entertainment, luxury and leisure products and services. Demographically, most of the mass affluent population is reaching retirement age and were victims of the financial crisis of 2008. The category has a tendency to save for retirement, and their children’s education.

Scope

• This report provides an extensive analysis on targeting the mass affluent population by banks, financial institutions and wealth management companies.
• It details historical values for the mass affluent population for 2008–2012, along with forecast figures for 2013–2017.
• The report provides a detailed analysis of opportunities and drivers, marketing and targeting strategies, challenges in targeting mass affluent customers.
• The report profiles leading market players stating their marketing, targeting and advertising strategies for mass affluent

Reasons To Buy

• Take strategic business decisions using national historic and forecast market data related to the mass affluent population.
• Understand the growth drivers and restraints for targeting mass affluent customers, along with key market trends and growth opportunities.
• Assess the marketing and targeting strategies adopted by the banks, financial institutions and other wealth management companies for mass affluent customers.
• Assess the competitive dynamics in the banking sector to reach the mass affluent.

Key Highlights

• Europe has the largest mass affluent population, while Asia-Pacific's is the fastest-growing.
• In 2012, the US had the largest mass affluent population of 75.34 million. It grew at a review-period compound annual growth rate (CAGR) of 4.78%.
• India and China are the major emerging contributors to Asia-Pacific’s mass affluent population growth.
• Mass affluent customers are raising their contributions to retirement plans.

Table Of Contents

2020 Foresight: Banking The Mass Affluent
1 Introduction
1.1 What is this report about?
1.2 Mass Affluent - Definition and Scope
Executive Summary
2 Global Snapshot
2.1 Overview
2.2 Market Size and Forecast by Region
2.2.1 Americas
2.2.2 Europe
2.2.3 Asia-Pacific
2.2.4 Middle East and Africa
3 The Mass Affluent - Customer Attitude and Behavioral Analysis
3.1 Wealth Management Analysis
3.2 Spending Behavior
3.3 Spending Behavior Towards Banking Products
3.4 Demographic Analysis
3.5 Emerging Trends - Needs and Priorities
4 Mass Affluent - Key Drivers, Restraints and Opportunities
4.1 Drivers
4.2 Restraints
4.3 Opportunities
5 Bank's Strategies to Target Mass Affluent
5.1 The Americas
5.1.1 Marketing and social media strategy
5.1.2 Targeting Strategy
5.1.3 Case Study Bank of America
5.2 Europe
5.2.1 Marketing and social media strategy
5.2.2 Targeting strategy
5.2.3 Case Study Lloyds Banking Group
5.3 Asia-Pacific
5.3.1 Marketing and Social media strategy
5.3.2 Targeting Strategy
5.3.3 Case Study Standard Chartered
5.4 The Middle East and Africa
5.4.1 Marketing and social media strategy
5.4.2 Targeting strategy
5.4.3 Case Study Al Rajhi bank
6 About WealthInsight

List of Tables

Table 1: Mass Affluent Population in the Americas, (Million), 2008-2017
Table 2: Mass Affluent Populations in Europe, (Million), 2008-2017
Table 3: Mass Affluent Population in Asia-Pacific, (Million), 2008-2017
Table 4: Mass Affluent Populations in the Middle East and Africa, (Million), 2008-2017

List of Figures

Figure 1: Mass Affluent Population Shares by Region, (%), 2012
Figure 2: Wealth Distribution by Population Category, 2012 (%)
Figure 3: Mass Affluent Populations in the Americas (Million), 2008-2017
Figure 4: Mass Affluent Populations in Europe (Million), 2008-2017
Figure 5: Mass Affluent Population in Asia-Pacific, (Million), 2008-2017
Figure 6: Mass Affluent Populations in the Middle East and Africa, (Million), 2008-2017
Figure 7: Investable Assets Distribution of the Mass Affluent
Figure 8: Mass Affluent Spending Categories
Figure 9: Mass Affluent Spending Shares
Figure 10: Share of Mass Affluent on Banking Products Spending
Figure 11: Mass Affluent Customers Priority for Financial Products
Figure 12: Banking the Mass Affluent - Drivers and Their Impact
Figure 13: Banking The Mass Affluent - Restraints and their Impact
Figure 14: Banking The Mass Affluent - Opportunities and their Impact
Figure 15: Market Segmentation and Scope of Business

Companies Mentioned

• Al Rajhi Bank
• Maybank Islamic Bank
• Dhofar Bank
• Standard Chartered
• Kotak Mahindra
• Citi Bank
• DBS Private Bank
• Llyod's group
• Bank of America
• JPMorgan
• Santander Bank

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