Now more than ever, it is vitally important that financial services providers are ahead of the curve when it comes to consumer expectations and behaviour. Mintel’s UK deposits and savings account market report provides you with the information and intelligence to stay across the latest consumer trends, alongside the market statistics that really matter. Read on to discover more about our report.
Households continue to grapple with heightened household bills and expenses. While inflation has fallen, many continue to face increases in gas and electricity prices and now higher interest rates. Consumers will remain concerned about financial instability in 2024 and will retain a focus on savings.
Leading providers continue to dominate the deposit and savings market but interest in digital challengers is high among younger generations. Digital providers are leveraging their technological edge to attract younger audiences, who have a strong interest in digital savings tools.
Higher interest rates are motivating consumers to save. While the market has started to taper, rates remain elevated. It will be another robust year for the savings market, with opportunities to attract new customers being driven by an urgency to lock in rates before they drop further.
Purchase the full report for a complete overview of the UK deposit and savings market, including savings market trends, market dynamics and consumer insights. Readers of this report may also be interested in browsing Mintel’s extensive financial services market research.
This report, written by Charlie Landsborough, a leading financial services analyst, delivers in-depth commentary and analysis to highlight current trends in the UK deposit and savings market and add expert context to the numbers.
After years of next-to-nothing rates, consumers are finally being rewarded for cash, with rising interest boosting interest in saving.
Charlie Landsborough
Financial Services Analyst
Mintel is the world’s leading market intelligence agency. We show you how consumers think today and tomorrow. As a trusted partner to industry leaders, we deliver game-changing insights to businesses across the globe, fuelling their marketing and innovation strategies that will shape the future.
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