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Consumer Spending Patterns - where do cards fit in?
Datamonitor, March 2005, Pages: 81
The way in which consumers make payments in Europe and the US differs significantly between countries however, in each, general-purpose payment cards have grown in importance over time. But where exactly do cards fit into the total consumer payments market? What are the key trends? How can issuers increase their share of the consumer payment market? This briefing provides the answers.
Report Scope
Provides data and analysis on the key trends in consumer payments in the French, German, Italian, UK and US markets for the period 1999-2003
Draws on the output of our Consumer Payments Model to provide the value of payments made by pay now, deferred debit/charge and credit cards
Product splits for spending made by cheque, direct debit, credit transfer are also provided, as is a broad estimate for the value of cash payments
Provides data for the value of payments made only by consumers and as such, does not include commercial or cash acquisition transactions
Report Highlights
In 2003 the combined value of consumer payments made by cash and cheque in Europe and the US was EUR 6,265 billion, 56% of total consumer expenditure. However, their importance has declined since 1999 when they accounted for 60% of the value of consumer spending.
Electronic payments account for an important share of total consumer expenditure. According to our estimates, more than EUR 2,538 billion of consumer expenditure was made via direct debit and other credit transfers in 2003, representing 22.7% of the total.
The share of payments accounted for by general-purpose cards was 21.3% and the value of spending on plastic cards is estimated to have been EUR 2,380 billion in 2003. Within this, revolving credit cards are the largest segment; consumers are estimated to have made 10.6% of the value of their total expenditure by credit card in 2003.
Reasons to Purchase
Access data from our Consumer Payment Model to understand how consumers make payments, and which products are dominant
Understand which payment tools currently dominate the space, and the size of the potential market opportunity for plastic cards
Discover the views of our Cards and Payments Team on the tactics issuers should employ to capture a greater share of this market
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