Mass affluent consumers in Australia realize they are important to their banking providers

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Mass Affluents Product Holding and Preferences
in Australia
Published on - 23 June, 2016 Number of pages
31 Single User Price 3450
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• Summary
• The Australian mass affluent segment is very
  savvy when it comes to managing their finances.
  Compared to retail consumers, mass affluent also
  have greater liquidity, allowing them to take
  advantage of their extra cash to maximize returns
  and reduce cost through their financial product
  holdings. In general, mass affluent are sensitive
  towards APR and will shop around for financial
  products or use a combination of products that
  give them the best return.

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• Key Findings
• Mass affluent consumers in Australia realize they
  are important to their banking providers. They
  know they have extra liquidity and that banks
  want their business. Therefore, personalized
  services and extra perks are essential.
• Mass affluent consumers tend to shop around for
  the best product offering. With their extra
  liquidity and less financial pressure, mass
  affluent can afford to be picky and demand a
  special deal from banks.
• A heated property market has driven the
  popularity of mortgage offsetting in Australia.
  This has made mass affluent in the market choose
  mortgage providers they already have a savings
  account with, or vice versa, in order to benefit
  from offsetting.

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• With higher liquidity to manage, mass affluent
  are able to leverage the extra cash to make
  investments for the purpose of making further
  returns, and therefore margin lending offers an
  opportunity for providers in Australia.

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• Synopsis
• MarketIntelReports Mass Affluents Product
  Holding and Preferences in Australia provides an
  analysis of the mass affluent consumer segment in
  Australia. It is divided into five short
  sections, starting with an overview of this
  consumer group following by analysis of each of
  the four main retail banking product groups. For
  each of the product groups, analysis of consumer
  preferences in the mass affluent segment is
  discussed.

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• Reasons To Buy
• What do mass affluent look for when choosing a
  banking product?
• How did mass affluent choose their most recently
  opened current account?
• What are the features mass affluent look for when
  choosing a savings account?
• Why is offsetting a mortgage so popular among
  mass affluent?
• How can banks increase personal loans business
  from the mass affluent segment?

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Mass Affluents Product Holding and Preferences
in Australia
A detailed qualitative analysis of the factors
responsible for driving and restraining growth of
Mass Affluents Product Holding and Preferences
in Australia are provided in the report.
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