英国における預金口座・貯蓄口座市場

Abstract

Over half of consumers held a deposit or savings account in October 2006. However, in spite of savings accounts already being popular among consumers, banks and building societies continue to grow the total number of account using innovative marketing techniques. For example, in the last 12 months banks have advertised interest rates of 10% or more on savings accounts in order to steal custom away from other savings account providers.

The main objectives of this report are to identify marketing opportunities in the deposit and savings account market and to establish how the market has changed since Mintel' s last deposit and savings account report, which was published in January 2006. Amongst other information, this report provides analysis of the savings market' s strengths and weaknesses. Also, developments relevant to the savings market over the last year such as Individual Savings Accounts (ISAs) becoming a permanent savings option for consumers.

Table of Contents

• Issues in the Market
• Abbreviations
• Market in Brief
• Around 25 million adults hold a deposit or savings account
• Halifax is the largest provider
  • Figure 1: Savings account providers, estimated volume market share, October 2006
• Rising interest rates might impact saving
• Cash is a more appealing venture for consumers
• Pensions and repayment of loans might impact the level of saving
• Increased use of technology has shaped product design
• Television advertising accounts for half of promotional spend
• Non-branch banking increases
• There is a strong desire among consumers to save
• Target groups vary among providers
• Provide the incentive to save
• Broader Market Environment
• Key points summary:
• Consumers will hold an increasing amount of funds for discretionary use
  • Figure 2: PDI, consumer expenditure, savings and savings ratio, 2001-11
• Tracker products extend saving choices
  • Figure 3: BoE base rates, January 1992-January 2007
• The stock market has shown steady growth since 2003
  • Figure 4: FTSE 100 and FTSE All Share indices, January 1996-December 2006
• Property is perceived as a good investment among consumers
  • Figure 5: Mix-adjusted house prices, 1970-2006
• Appealing to a more mature market
  • Figure 6: Population projections, 2006-25
• Internal Market Environment
• Key points summary:
• The total value of savings balances stood at around £987 billion in 2006
  • Figure 7: Value of savings balances, by sector, 2001-06
• Cash finds favour with consumers
  • Figure 8: Number and value of ISAs subscribed, 2001/02-2005/06
• The heaviest interest rates are the preserve of the Internet
  • Figure 9: Selected instant access (easy access) savings accounts, by AER, December 2006
• Customer acquisition through loss-leading rates
• ISAs are given legs
• ISA choice will be simplified for consumers
• Review of the Banking Code
• Competitive Context
• Key points summary:
• Liquid funds
  • Figure 10: Selection of potential demands on funds intended for savings, 2006
• Pressure from pensions
• Repayments to creditors
• Premium bonds are an affordable option
  • Figure 11: Amounts invested in premium bonds, savings certificates, income bonds and pensioners' guaranteed bonds, 2001-06
• ISAs and savings accounts compete head to head
  • Figure 12: Number of cash mini ISAs and amounts subscribed during year, 2001/02-05/06
• Strengths and Weaknesses in the Market
• Competing on headline rates has its risks
  • Figure 13: Strengths and weaknesses for the deposit and savings account market, January 2007
• Market Size and Forecast
• Key points summary:
• MBBG account for the largest amount of cash-based assets
  • Figure 14: Individual trusts' private sector holding of Sterling assets, 2001-05
• Growth in sight accounts is driving the market
  • Figure 15: Number and value of individual interest-bearing sight accounts and individual interest-bearing time accounts (MBBG only), 2001-05
• Arrangement of second accounts has buoyed the market
  • Figure 16: Number of current and savings accounts held (MBBG only), 2001-05
• The market for building society accounts has grown
  • Figure 17: Number and value of building society accounts, 2001-05
• NS&I offers an additional route to saving
  • Figure 18: Number and value of NS&I EASAs, 2003/04-2005/06
• The savings market is large and mature
  • Figure 19: Number of savers, by type of account, October 2006
• 10% of savers hold three or more savings accounts
  • Figure 20: Number of savings accounts held by savers, October 2006
• The savings market is projected to grow
• The number of MBBG sight accounts will grow
  • Figure 21: Forecast of MBBG sight accounts, by volume and value, 2001-11
  • Figure 22: Forecast of MBBG time accounts, by volume and value, 2001-11
• Building societies will gain from an increase in consumer saving
  • Figure 23: Forecast of building society accounts, by volume and value, 2001-11
• Factors used in this forecast
• Market Share
• Key points summary:
• Traditional providers reign supreme
  • Figure 24: Top savings account providers, by estimated volume market share, October 2006
• Halifax is the largest savings account provider
  • Figure 25: Estimated market share for the savings account market, October 2006
• Icesave is the latest entrant
• Demutualised societies accounted for 31% of market share
  • Figure 26: Volume share of the savings account market, by type of provider, October 2006
• Companies and Products
• Key points summary:
• Regulation introduced in the mid-1980s has shaped this market
  • Figure 27: Timeline of building society demutualisations, 1989-2000
• Halifax
• Lloyds TSB
• Nationwide
• Abbey
• HSBC
• New entrants and overseas providers
• Icesave (Landsbanki Islands hf)
• ICICI Bank
• Brand Communication and Promotion
• Key points summary:
• Savings account advertising expenditure has grown relatively quickly
  • Figure 40: Advertising expenditure on financial services, by sector, 2001/02-2005/06
• Television is the largest advertising outlet for savings accounts
  • Figure 41: Advertising expenditure on savings accounts, by outlet, October 2005-September 2006
• Terms and conditions may be used to increase account take-up
  • Figure 42: Top advertisers for savings accounts, October 2001-September 2006
• Consumer Financial Activity
• A quiet Christmas and New Year for providers
• Activity levels look set to drop sharply
  • Figure 46: Savings, investment, borrowing and debt repayment -- consumers' expected activity, June 2005-September 2006
• UK savings and spending climate
  • Figure 47: UK savings and spending climate -- indexed, January 2001-October 2006
• Subdued picture across all sub-groups
  • Figure 48: Expected financial activity, by socio-demographic and income groups, September 2006 and average for the last 19 quarters
• Only ISA and life business will hold up
  • Figure 49: Leading financial activities planned in the next six months, September 2005-September 2006
• Property intentions may be hit by the rate rise
  • Figure 50: Intended mortgage and property purchase activity, September 2004-September 2006
• Identifying main financial services providers
• Bank of Scotland and Halifax customers will be the busiest
  • Figure 51: Activity levels of main financial services providers' customer bases, September 2006
• NatWest and Barclays customers are looking to repay debt
  • Figure 52: Activity intentions and current household financial situation, by MFSP, September 2006
• Consumer -- Savings Account Penetration
• Key points summary:
• Current accounts are the most widely held financial product
• Figure 53: Financial product ownership, October 2006
  • ABs were most likely to hold any savings product
  • Figure 54: Savings product ownership, by gender, age and socio-economic group, October 2006
• Implications and opportunities
• ABC1 over-55s were most likely to hold at least one savings product
  • Figure 55: Savings product ownership, by marital status, lifestage, age/socio-economic group and working status, October 2006
• Implications and opportunities
• People living in the South favour deposit and savings accounts
  • Figure 56: Savings product ownership, by gross annual household income, tenure, region and ACORN category, October 2006
• Implications and opportunities
• Broadsheets are a decent advertising outlet
  • Figure 57: Savings product ownership, by technology users, newspaper readership, commercial TV viewing and supermarket usage, October 2006
• Implications and opportunities
• Individual instant access accounts are held by 60% of the market
  • Figure 58: Type of savings account held, October 2006
• Young adults favour instant access accounts
  • Figure 59: Type of savings acccount held, by gender, age and socio-economic group, October 2006
• Implications and opportunities
• Joint accounts appeal to married people
  • Figure 60: Type of savings acccount held, by marital status, lifestage and age/socio-economic group, October 2006
• Implications and opportunities
• Some consumers cannot afford to commit their money
  • Figure 61: Type of savings acccount held, by working status, gross annual household income, tenure and ACORN category, October 2006
• Implications and opportunities
• Offer a popular incentive to encourage saving in children' s accounts
  • Figure 62: Type of savings acccount held, by technology users, newspaper readership, commercial TV viewing and supermarket usage, October 2006
• Implications and opportunities
• The Consumer -- General Attitudes towards Saving and Management of Accounts
• Key points summary:
• Nearly a third of consumers agree that interest rates are the most important element
  • Figure 68: Agreement with attitudinal statements regarding savings accounts, October 2006
• Affluent consumers favour high rates
  • Figure 69: Agreement with statements regarding savings accounts, by gender, age, socio-economic group and marital status, October 2006
• Implications and opportunities
• C2DE 18-34s find it difficult to save
  • Figure 70: Agreement with statements regarding savings accounts, by lifestage, age/socio-economic group, working status and gross annual household income, October 2006
• Implications and opportunities
• Interactive saving
  • Figure 71: Agreement with statements regarding savings accounts, by technology users, newspaper readership, commercial TV viewing and supermarket usage, October 2006
• Implications and opportunities
• Access to a local branch on Saturdays might be important for some
  • Figure 72: Statements regarding savings accounts, by savings account providers, October 2006
• Savers value convenience
  • Figure 73: Statements about savings account management, October 2006
• C2s were most likely to be loyal savings account customers
  • Figure 74: Statements about savings account management, by gender, age, socio-economic group and marital status, October 2006
• Implications and opportunities
• More affluent consumers favour managing their savings over the Internet
  • Figure 75: Statements about savings account management, by lifestage, age/socio-economic group, working status and gross annual household income, October 2006
• Implications and opportunities
• Reward loyalty to others
  • Figure 76: Statements about savings account management, by technology users, newspaper readership, commercial TV viewing and supermarket usage, October 2006
• Implications and opportunities
• Loyalty is strongest amongst Lloyds TSB, NatWest and Abbey
  • Figure 77: Statements about savings account management, by savings account providers, October 2006
• Consumer Typologies
  • Figure 78: Deposit and savings accounts typologies, October 2006
• Plan to Save
• Restricted Funds
• Active Savers
• Hot Prospects
• Target higher earners with the offer of an exclusive savings account
  • Figure 79: Deposit and savings account typologies, by gender, age, socio-economic group, lifestage and gross annual household income, October 2006
• Implications and opportunities
• Adopt the position of others to increase appeal
  • Figure 80: Deposit and savings account typologies, by technology users, newspaper readership, commercial TV viewing and supermarket usage, October 2006
• Implications and opportunities
• Higher earners are key targets
  • Figure 81: CHAID analysis on type of savings product held, October 2006
• ABs are the main target group
  • Figure 82: CHAID analysis on savings accounts, October 2006