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Insight Report: Best Practice in Frequent Flyer Credit Cards

  • March 2015
  • 52 pages
  • GlobalData
Report ID: 2831972

Summary

Table of Contents

Synopsis
Timetric’s “Insight Report: Best Practice in Frequent Flyer Credit Cards” analyzes emerging trends and industry best practices in offering credit cards targeted at frequent flyers.

Banks are increasingly using frequent flyer credit cards as a tool for maintaining relationships with top-end customers. Financial institutions are putting forward premium experiences and offers such as lounge access at airports, free or heavily discounted air tickets, preferential treatment at hotels and resorts and insurance cover to increase loyalty and develop deeper banking relationships. Consumers – particularly those in the mass affluent segment – are traveling more than ever, and forecasts for outbound trips indicate that this trend will continue in the key economies over the next five years.

The report also provides a deep dive into six key markets and discusses their market potential for card issuers, compares card offerings by the key competitors and discusses their strategies in detail.

Summary
The report provides information and insights on into market trends for credit cards targeted at frequent flyers, including:

- A global snapshot of frequent flyer credit card dynamics and market drivers.

- Comprehensive analysis of key trends expected to shape the market over the next five years.

- Analysis of industry best practice through detailed case studies.

- Detailed analysis of key markets, including market potential, product comparison and strategies adopted by key competitors.

Scope
- This report provides a comprehensive analysis of emerging market trends essential for frequent flyer card issuers over the next five years.

- It provides current and future outlines of products and services, business models and use of technology in offering frequent flyer credit cards and associated loyalty programs.

- It compares 30 frequent flyer credit cards in six key markets, and analyzes the market strategies of 18 card issuers.

- It provides case studies on how card issuers are effectively targeting frequent flyers.

- The report also covers market potential in terms of number of seats sold on flights and total revenue generated by airlines from ticket bookings in six key markets.

Reasons To Buy
- Understand what key competitors are doing to target frequent flyers.

- Gain insights into how product propositions are affected by consumer habits and cultural aspects.

- Gain insights into current and future sector dynamics of frequent flyer credit cards.

- Identify and understand industry best practices to streamline your product offering.

Key Highlights
- Banks and card issuers are facing changing regulatory, competitive and customer dynamics. This has led to an increased pressure on profitability, forcing card issuers to reassess their existing product offerings.

- Frequent Flyer credit cards are often used to maintain relationships with profitable customers (such as mass affluent customers) by offering exclusive experiences and attractive offers.

- Following the ‘one size fits all’ approach is likely to understate the potential benefits of a frequent flyer program. A limited focus on customer segmentation can lead to targeting customers with the wrong products and services, as well as ineffective marketing strategies.

- Banks and card issuers are partnering with merchants and service providers such as airlines, hotels and resorts, retailers, lifestyle brands, tour operators, insurers and reward programs to make their frequent flyer credit cards more appealing to various customer segments.

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