アイルランドにおけるクレジットカード業界

Abstract

A culture of short-termism - particularly among the younger generation - has prevailed during this extended economic boom across much of Ireland and the UK. Consumers appear much more content to ride the debt rollercoaster in an effort to enhance their immediate quality of life and this impulsive desire has fostered a ‘buy now pay later’ mentality.

The market for credit cards in Ireland was last examined by Mintel in March 2005. Since then, market growth has continued, on the back of a rise in the number of Irish consumers with a credit card in their name and the rising value of transactions undertaken.

Table of Contents

• Issues in the Market
• Key themes in the report
• Abbreviations
• Definitions
• Terminology
• Market In Brief
• 34% growth in Ireland
• NI & RoI distinct markets
• Debit gaining ground in NI
• Strong future macros
• Ireland outperforming UK
• Channels to market
• Who' s innovating? Who isn' t...
• Ownership of credit
• Growing conservatism among consumers
• Population & technology the key
• Internal Market Environment
• Key points
• Developments on the competitive global scene
• Global giants going public in the face of mounting scrutiny
• Pan-European attitude converging
• Plastic cards ' pushing up' EU prices
• SEPA-compliance a major driving force
• Low-level of card fees paid in Ireland directly linked to SEPA project
• EU likely to put pressure on Irish government
• UK market experiencing different dynamic
• Stagnant performance of UK credit card market
• Combination of bad debt and increased scrutiny
• UK card providers forced to bite back
• Credit card analysis
  • Figure 1: Penetration of credit and alternative (non-credit) plastic cards, RoI and NI, 2004 and 2006
• Chip & Pin now operational in both markets
• Teething problems in RoI
• Premium accounts
• Multiple account management
• Irish consumers more concerned about their weight than their debt
  • Figure 2: Current worries, NI and RoI, 2006
• 25-44 years of age the most stressful time
• ABC1s are debt conscious
• Broader Market Environment
• Key points
• The economy
• Interest rates rise
  • Figure 3: UK and eurozone interest rates, 2001-07
• Bad news for borrowers in both NI and RoI
• Mortgage repayments to increase
• Need to appeal to ' card-chargers' ' sense of a bargain
• Use as a long-term cashflow tool under threat by rates rise
• Under 40s hardest hit by rate rise
• Strong GDP growth both north and south
  • Figure 4: Health of the economy, NI and RoI, 2002-07
• Consumer spending a major engine for growth in RoI
• NI consumers happy to keep spending
• Inflationary pressure in the UK affecting NI consumers
• Inflation slows down in RoI
• Rising incomes good news for RoI credit providers
• Disposable incomes taking a battering in NI
• Declining unemployment levels in both NI and RoI
• Consumer sentiment a key indicator for the economy
• Long-term responsibilities start later
  • Figure 5: Average age at marriage, men and women, NI and RoI, 2000-05
  • Figure 6: Average age of women at birth of first child, NI and RoI, 1991-2005
• Time better spent elsewhere
• Changing norms in Irish and UK society
• Promotion of a cashless society
• Financial matters being settled online
• Debt mentality on the rise
• Addiction to celebrity chic
• Market Value and Forecast
• Key points
• A more mature and competitive NI market
• Figure 10: Estimated number of credit cards in issue, RoI and NI, 2001-12
• Market forecast explanation
• Value of transactions still rising in RoI
  • Figure 11: Estimated transaction volumes, RoI and NI, 2001-06
  • Figure 12: Estimated value of transactions, RoI and NI, 2001-06
• The future
• A cashless society by 2012?
• Internet offers considerable potential
• Changing Demographics
  • Figure 13: Population change by age group, NI, 2000-20
• In NI:
  • Figure 14: Population change by age group, RoI, 2000-20
• In RoI:
• Supply Performance
• Key Points
• RoI
  • Figure 15: Market share of various credit card schemes, RoI, 2006
• Monopoly of the big four
  • Figure 16: Volumes & values of credit card transactions, RoI and NI, 2006
• RoI consumers happy to use their card on themselves
  • Figure 17: Volumes & values of credit card transactions, RoI and NI, 2006
• NI
  • Figure 18: Volumes & values of credit card transactions, RoI and NI, 2006
• Healthier distribution network in NI
  • Figure 19: Volumes & values of credit card transactions, RoI and NI, 2006
• NI consumers even less likely to splash out on business
  • Figure 20: Volumes & values of credit card transactions, RoI and NI, 2001-06
• Companies and Products
• Visa
• MasterCard
• American Express
• Diners Club
• Channels to Market
• Key points
• Banks -- branch network
• Abbey
• Company background
• Product portfolio
• Alliance & Leicester
• Company background
• Product portfolio
• AIB/First Trust Bank
• Company background
• Product portfolio
• Bank of Ireland
• Company background
• Product portfolio
• Barclays
• Company background
• Product portfolio
• Halifax -- formerly Bank of Scotland (Ireland)
• Company background
• Product portfolio
• National Irish Bank/Northern Bank
• Company background
• Product portfolio
• Permanent TSB
• Company background
• Product portfolio
• Ulster Bank
• Company background
• Product portfolio
• Internet -- Pureplays
• Capital One
• Company background
• Product portfolio
• Egg
• Company background
• Product portfolio
• Direct mail
• MBNA Europe Bank Limited
• Company background
• Product portfolio
• Supermarket retailers
• Tesco
• Company background
• Product portfolio
• Other supermarket retailers
• Consumer: Ownership of Credit Cards
• Key points
• Card ownership
• RoI experiencing growth as NI market matures
  • Figure 21: Penetration of credit cards, NI and RoI, 2002-06
• Irish preoccupation with the property market
• NI stagnates
• Has NI lost its appetite for plastic?
• Ipod generation not turned on to plastic -- yet!
• Affluence and influence
• End of the elite
• Consumer-advice culture dampening demand from less well-off
• A baby boom for card companies
• Boom in credit card acceptance in RoI
• Golden oldies throwing off the shackles of generational debt suspicion
• ABs losing their enthusiasm but not their foresight
• Keeping up with the O' Jones' s a priority
• Individuals looking out for No. 1
• Number of cards held
  • Figure 22: Number of credit cards, NI and RoI, 2006
• Multiple card holding more popular in NI
• RoI consumers more cautious about juggling too many cards
• Settling the balance
• Accruing interest more acceptable in NI
  • Figure 23: How credit card balance was paid, NI and RoI, 2006
• Are the majority of NI consumers interest-savvy?
• More conscientious balance settlement in RoI
• Age and social standing key indicators of settlement capacity
• ABC1s above average in clearing balances
• The debt demographic
• Reasons for choosing a credit card
  • Figure 24: Reasons for choosing a credit card, NI, 2002-06
• Interest rates in NI decreasing in importance as main driver of demand
• Smarter positioning the key for card providers
• Other factors at work besides interest rates
• Future strategy may lie further down the list
  • Figure 25: Reasons for choosing a credit card, RoI, 2002-06
• Irish consumers appear unaffected by ethical credit card
• Appendix
• Regional definitions
• Conversion factors
• Exchange rate
• Population 2006
• BMRB Target Group Index (TGI) sample sizes
• Sample sizes for Millward Brown data
• Adults who have used the Internet
  • Figure 32: Adult population who have used the Internet in the last 12 months, by demographic sub-groups, NI and RoI, 2006
  • Figure 33: Forecast population change, by age, NI, 2000-20
  • Figure 34: Forecast population change, by age, RoI, 2000-20
• Employment statistics
  • Figure 35: Percentage in employment, by age group, NI and RoI, 2000-05
• Household composition
  • Figure 36: Number of households, by size, NI and RoI, 2000-05
• Consumer: Ownership of credit cards
  • Figure 37: Penetration of credit cards, by demographic groups, NI, 2004-06
  • Figure 38: Penetration of credit cards, by demographic groups, RoI, 2004-06
  • Figure 39: How credit card balance was paid, by demographic groups, NI and RoI, 2006
  • Figure 40: Consumers who choose ' The amount of debt that I have' as a concern, by demographic groups, NI and RoI, 2006
  • Figure 41: Responses to financial attitude statements, NI, 2006
  • Figure 42: Responses to financial attitude statements, RoI, 2006
• TGI typologies
• Attitude statements used
  • Figure 43: Financial attitudes by credit card cluster groups, NI, 2006
  • Figure 44: Financial attitudes by credit card cluster groups, RoI, 2006
  • Figure 45: Frequency of credit card use, by cluster groups NI, 2006
  • Figure 46: Frequency of credit card use, by cluster groups RoI, 2006
  • Figure 47: How credit card bills were settled, by cluster groups, NI 2006
  • Figure 48: How credit card bills were settled, by cluster groups, RoI 2006
  • Figure 49: Number of credit cards held, by cluster groups NI, 2006
  • Figure 50: Number of credit cards held, by cluster groups RoI, 2006