Submitted by: Submitted by marketresearchri
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Words: 602
Pages: 3
Category: Business and Industry
Date Submitted: 09/07/2016 12:39 AM
China Mass Affluents Market Share, Key Trends and
Opportunities by Radiant Insights
Summary
Mass affluent populations around the world are growing in size, making them an increasingly important segment
for financial providers. These consumers possess more financial products than average, maintain higher levels of
savings and investments, and are more likely to use added-value services. This makes them an attractive and
profitable segment to target.
Click Here for Complete Report @ http://www.radiantinsights.com/research/mass-affluents-in-china-productholding-and-preferences
Key Findings
-�Mass affluents are more inclined than retail consumers to keep their savings with their main bank. More than
three quarters (76%) of mass affluents use the same provider for both products, which is marginally greater than
the 70% of retail consumers. This also makes mass affluents a particularly valuable segment in which to drive cash
flow for lending operations.
-� ICBC enjoys a strong lead over its rivals in the current account market, with a 27% share among mass affluents
vs 25% for the retail market. China Construction Bank follows closely with a market share of 24%. Collectively, the
top three banks hold 64% of the mass affluent market in China.
-�Longstanding reputation (34%), financial stability (29%), and international brand (22%) are key drivers for mass
affluents when choosing a savings provider. The first two factors are significantly more important to mass affluents
than retail consumers, suggesting that traditional, established banks have an intrinsic advantage when competing
for this segment.
-�Conditions appear favorable for future growth in P2P lending in China, with 66% of mass affluents claiming to
be happy to borrow from such a lender, and 50% happy to invest funds in this sector. Regulators need to ensure
strict oversight in order to prevent any major losses that may dent consumer confidence.
Synopsis
Verdict Financial's Mass Affluents:...