1. Market Research
  2. > Financial Services
  3. > Banking
  4. > Retail Banking Market Trends
Mass Affluents: Channel Use in Hong Kong

Mass Affluents: Channel Use in Hong Kong

  • September 2016
  • 34 pages
  • ID: 4188211
  • Format: PDF
  • GlobalData

Summary

Table of Contents

Search Inside

Summary
The size of the mass affluent market in Hong Kong is estimated to be around 3.2 million individuals. Considering its size, the segment is more lucrative than even the HNW segment. It can easily be categorized as the most important segment for providers in Hong Kong. Given that Hong Kong is a financial hub in Asia Pacific, the banking environment itself is filled with a vast amount of financial management products for consumers to choose from. This kind of environment has also driven consumers in Hong Kong to be more active in investing their liquid wealth compared to most other markets. Hence providers often have to provide a variety of products as well as collaborating with their brokerage divisions to satisfy their customers.

Key Findings
- When comparing the gender of mass affluents the difference is quite small for Hong Kong, with a 2% variation between male and female mass affluent consumers.

- Segmented by age, most mass affluent individuals are older, with over 60% of mass affluents fitting into the pre-retirement age and above.

- With the abundance of information provided by banks online, consumers can easily compare retail banking products in Hong Kong. This has increased the importance of the online channel over others in the past decade.

- The urban structure of a city such as Hong Kong means accessing a bank branch is easy, making the branch a well-utilized channel.

- Mass affluents and their retail counterparts use social media as frequently as the other, bucking the concept that an older individual cannot be engaged on social media platforms.

- Hong Kong mass affluents have grown accustomed to banking on the PC - a habit banks will need to overcome if they wish to shift more consumers to mobile.

Synopsis
Verdict Financial's “Mass Affluents: Channel Use in Hong Kong” provides analysis of the mass affluent consumer segment in Hong Kong. It is divided into four short sections, starting with a look at the segment overview of this consumer group. The report then looks into their channel preferences for different banking activities, such as product research and application. The report ends with mass affluents' attitudes towards the various channels they prefer, as well as laying out the reasons why they avoid certain channels.

Reasons To Buy
- How are the demographics of the mass affluent segment influencing their channel preferences?

- Which channels do mass affluent consumers use to conduct their research on banking products?

- What are the preferred channels of application among mass affluent consumers?

- How does the mass affluent segment utilize social media and digital channels in banking?

Get Industry Insights. Simply.

  • Latest reports & slideshows with insights from top research analysts
  • 150+ Million searchable statistics with tables, figures & datasets
  • More than 25,000 trusted sources
  • Single User License — provides access to the report by one individual.
  • Department License — allows you to share the report with up to 5 users
  • Site License — allows the report to be shared amongst all employees in a defined country
  • Corporate License — allows for complete access, globally.
Ahmad helps you find the right report:
Testimonials

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

We were impressed with the support that ReportLinker’s research specialists’ team provided. The report we purchased was useful and provided exactly what we want.

Category Manager at
Ikea

ReportLinker gave access to reliable and useful data while avoiding dispersing resources and spending too much time on unnecessary research.

Executive Director at
PwC Advisory

The customer service was fast, responsive, and 100% professional in all my dealings (...) If we have more research needs, I'll certainly prioritize working with ReportLinker!

Scott Griffith

Vice President Marketing at
Maurice Sporting Goods

The research specialist provided prompt, helpful instructions for accessing ReportLinker's product. He also followed up to make sure everything went smoothly and to ensure an easy transition to the next stage of my research

Jessica P Huffman

Research Associate at
American Transportation Research Institute

Excellent customer service. Very responsive and fast.

Director, Corporate Strategy at
Ingredion

I reached out to ReportLinker for a detailed market study on the Air Treatment industry. The quality of the report, the research specialist’s willingness to solve my queries exceeded my expectations. I would definitely recommend ReportLinker for in-depth industry information.

Mariana Mendoza

Global Platform Senior Manager at
Whirlpool Corporation

Thanks! I like what you've provided and will certainly come back if I need to do further research works.

Bee Hin Png

CEO at
LDR Pte Ltd

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

FAQ
  • How we can help
    • I am not sure if the report I am interested in will fulfill my needs. Can you help me?
    • Yes, of course. You can call us at +33(0) 4 37 65 17 03 or drop us an email at researchadvisor@reportlinker.com to let us know more about your requirements.
    • We buy reports often - can ReportLinker get me any benefits?
    • Yes. Set up a call with a Senior Research Advisor to learn more - researchadvisor@reportlinker.com or +33(0) 4 37 65 17 03.
    • I have had negative experiences with market research reports before. How can you avoid this from happening again?
    • We advise all clients to read the TOC and Summary and list your questions so that we can get more insight for you before you make any purchase decision. A research advisor will accompany you so that you can compare samples and reports from different sources, and choose the study that is right for you.

  • Report Delivery
    • How and when I will receive my Report?
    • Most reports are delivered right away in a pdf format, while others are accessed via a secure link and access codes. Do note that sometimes reports are sent within a 12 hour period, depending on the time zones. However, you can contact us to escalate this. Should you need a hard copy, you can check if this option is offered for the particular report, and pay the related fees.
  • Payment conditions
    • What payment methods do you accept?
      1. Credit card : VISA, American Express, Mastercard, or
      2. You can download an invoice to pay by wire transfer, check, or via a Purchase Order from your company, or
      3. You can pay via a Check made out in US Dollars, Euros, or British Pounds for the full amount made payable to ReportLinker
    • What are ReportLinker’s Payment Terms?
    • All payments must normally be submitted within 30 days. However, you can let us know if you need extended time.
    • Are Taxes and duties included?
    • All companies based in France must pay a 20% tax per report. The same applies to all individuals based in the EU. All EU companies must supply their VAT number when purchasing to avoid this charge.
    • I’m not satisfied. Can I be refunded?
    • No. Once your order has been processed and the publisher has received a notification to send you the report, we cannot issue any refund or cancel any order. As these are not ‘traditional’ products that can be returned, reports that are dispatched are considered to be ‘consumed’.
  • User license
    • The license that you should acquire depends on the number of persons that need to access the report. This can range from Single User (only one person will have the right to read or access the report), or Department License (up to 5 persons), to Site License (a group of persons based in the same company location), or Corporate License (the entire company personnel based worldwide). However, as publishers have different terms and conditions, we can look into this for you.

ref:plp2016

Reportlinker.com © Copyright 2020. All rights reserved.

ReportLinker simplifies how Analysts and Decision Makers get industry data for their business.

Make sure you don’t miss any news and follow us on