Table of Contents
Banks have been slow to recognize the demand for ethical products; however, consumers are increasingly factoring environmental and social issues into their decision-making.
- Consider the demand for ethical banking and develop well-designed products.
- Acquire an understanding of mass affluent consumers' needs and ways to cater to these.
Reasons To Buy
- How can providers make money from serving mass affluent consumers?
- What should providers consider when serving the mass affluent?
- How does ethical banking attract the mass affluent segment?
Ethical offerings could be "deepened" to appeal to a greater number of well-off individuals with the resources to commit to high-impact social investment.
For banks, the higher growth among the mass affluent segment provides a significant opportunity. Mass affluent individuals are more likely to have higher balances and require niche products, providing additional revenue opportunities as well as improved scale.
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