Malaysian Banking - Share of Wallet Report - 2018
RFi Group’s Share of Wallet Report provides detailed insights on the local credit card market. These insights span cardholder preferences and behaviour and issuer performance across key metrics including spend capture, consideration, satisfaction and advocacy. Information contained in these reports will be invaluable to anyone trying to understand local market dynamics as well as local market participants wanting to improve performance. Reports are based on extensive primary research sampling 2,000 consumers per market.
Reports will enable you to:
- Maximise the effectiveness of your acquisition strategy by obtaining detailed information on the drivers of credit card choice
- Obtain a detailed understanding of the drivers of top of wallet (ToW) status
- Understand share of credit card spend captured by major issuers and strategies to win spend from competitors
- Examine the drivers of satisfaction and advocacy and the performance of major issuers in these areas
- Explore switching propensity and drivers so you can win a greater share of inbound switchers
- Obtain detailed insights on unique card holding, behaviours and preferences of affluent consumers
- The major credit card issuers in Malaysia are each capturing at least 50% of their customers overall credit card spend.
- Malaysian credit cardholders have around 2.4 relationships on average with different card providers, increasing to 2.7 relationships within the portfolios of some of the major issuers.
- One of the major issuers in Malaysia is leading the market in customer satisfaction and advocacy. It also has lower switching propensity among its customers. However, its customers typically spend less on their cards.
- Cashback programs and annual fees are the leading drivers of credit card acquisition. In the affluent space, having a good cashback program is more than twice as important as having a good rewards point program.