UK Consumers and Retail Banking Market Report 2020
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Providing the most comprehensive and up-to-date information and analysis of the Consumers and Retail Banking: Inc Impact of COVID-19 – UK market, and the behaviours, preferences and habits of the consumer.
What are the key challenges facing the industry? Who is the consumer and what do they want? Where are the opportunities, where are the risks and what lies ahead?
Social isolation and home working have resulted in people of all ages exploring technology such as video conferencing and online chat. Beyond basic everyday transactions, consumer willingness to engage with these channels for everyday activities can result in opportunities for financial services providers. This could include cheaper and more efficient distribution channels for more complex products such as mortgages as well as financial advice.
Written by Irene Salazar, a leading analyst in the Finance sector, her extensive knowledge delivers in-depth commentary and analysis to highlight current trends and add expert context to the numbers.
COVID-19 presents an enormous challenge to retail banks in terms of profitability, but it has also been an opportunity for providers to refresh their image and demonstrate their support for consumers. Mintel’s research shows there is a clear opportunity for banks to forge a positive lasting impression on younger generations, who are most supportive of the actions taken by industry to support people through the crisis. The outbreak has also accelerated the move towards online and digital channels, which will create opportunities for cost-efficiencies and innovation Irene Salazar
Senior Finance Analyst
Mintel provides a range of market information, frequently through the category level, including market size and forecasting, complete with market drivers that illustrate the forces that shape a category or market.
Mintel’s proprietary consumer research provides our analysts with the attitudinal and behavioral data used to provide valuable insight to topical issues.
Mintel provides overviews of the top brands and manufacturers, and uses consumer research to explore attitudes and reactions to brands, as well as insight into what will resonate with consumers.
Market reports provide appendices of data to support the research and insight produced. Our databooks* are easily manipulated and downloadable to support your research needs and covers factors from consumer attitudes to market forecasts.
*databooks not available with UK B2B Industry reports.
Please Note: This is a sample report. All of the figures, graphs, and tables have been redacted. Our reports are available to download in PDF and PPT formats.