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What Consumers Want: Cards in South Korea
- Publication Date:March 2011
- Product Type: Brief
What Consumers Want: Cards in South Korea 2010
This slide deck provides direct answers to the important questions regarding consumers? behaviour towards Financial Services products. This series of reports provides country specific data, set against a global backdrop, to ensure the reader knows What Consumers Want in their area of Financial Services.
- The brief highlights the key findings of Datamonitor's FS Consumer Insight survey for the cards market in South Korea
- Answers to key questions are provided such as product penetration, channel of choice, reasons for product & provider choice and important attributes.
Nearly 40% of market leader Shinhan?s consumers took out their card in a bank branch, while 20.0% opened their account online, and a further 17.3% took it out over the phone.
The strongest motivation for consumers taking out a card in South Korea was that the card came with their bank account. Over 26.1% of consumers in South Korea were motivated by this factor, in line with the global average of 25.6%. A further 25.1% of cardholders chose their card as a result of it being the easiest to be accepted for.
Only a small proportion of consumers in South Korea take out a card over the phone, just 8.1% on average. A total of 17.9% of Samsung's customers took out their card this way.
Reasons to purchase
- This slide pack provides data essential for FS providers wishing to better understand the needs and demands of their customers.
- Uncover white space opportunities across geographies, product sectors, channels and technologies.
- Better understand the "size of the prize" dictated by consumer choice and verify or challenge internal assumptions via an independent source.