by No To the Bike Parking Tax

Aarkstore.com announce a new report through its vast collection of market research report :

Lessons for Retailers in Financial Services

For some-more information, Great fully visit:

http://www.aarkstore.com/reports/Lessons-for-Retailers-in-Financial-Services-118847.html

Introduction

Low profit margins in groceries have incentivized retailers to expand their non-food allocation. The FS industry offers attractive cross selling opportunities as retailers can leverage their extensive customer information to yield advantages in the financial services domain. This report explores the strategies that are essential for successfully crossing into the financial services space.

Features and benefits

* Improve entry strategy through better understanding the advantages and disadvantages of affinity partnerships.
* Create an appropriate product range through understanding the need to build a reputation for excellence before expanding into new product arenas.
* Improve customer acquisition through an appreciation of the role of independent recognition and rewards schemes.

Highlights

Trust in personal banks has however remained robust throughout the downturn. Banks may have suffered as an industry collectively but many consumers have felt their relationships with their personal bank remain relatively unchanged. Few consumers lost money directly from bank collapses given the extensive government guarantees in place.
Affinity partnerships between retailers and FS providers have become commonplace in providing retailers an easier route into the financial services domain. This normally takes the form of white labeling , where retailers offer their partner s financial products repackaged bearing the supermarket brand.
Supermarkets and other popular retailers must ensure they have the reward systems in place to offer enough of an incentive for consumers to go through the hassle of moving their primary bank. The rewards present must be obvious and attractive, the majority of consumers will not take the time to move if the savings are only minor

Your key questions answered

* What are the barriers to entry for retailers looking at the FS sector?
* How has the recession changed consumers’ attitudes to their banks?
* What advantages do retailers have compared to other institutions in entering the FS market?
* What are the pitfalls to avoid on entering this competitive market?

Table of Contents :
OVERVIEW
Catalyst
Summary
Methodology
INTRODUCTION
Insight: Significant barriers to entry exist for the FS industry
The growing commoditization of FS products should encourage would-be entrants
Insight: The banking crisis created an opportunity for new entrants but entry remains challenging
Trust in personal banks has however remained robust throughout the downturn
Insight: Retailers are looking to boost revenue through distributing FS products
Retailers have proven capable of overcoming many of the barriers to the FS industry through partnerships
Insight: Affinity partnerships offered retailers a low cost route to the FS market
Insight: In 2011 and beyond retailers will increasingly become the manufacturers of FS products
Potential upsides:
Potential downsides:
Key considerations for retailers targeting the FS sector
KEY LESSONS
Lesson 1: Retailers must be transparent about their partnerships or they risk sowing early seeds of distrust amongst consumers
Retailers must embrace their partnerships and present them to the consumer as being in their interest
Retailers need to avoid the unpleasant surprise and instead highlight the advantages of their partnerships
Retailers must promote values of honesty and professionalism if they are to target difficult silos of the FS market
Lesson 2: Acquisition of core banking services will be challenging and costly
Consumers are more trusting of banks to deal with complicated money matters
Lesson 3: Independent recognition is essential to retailers whose experience may be questioned by careful consumers
Retailers are beginning to gain experience and recognition in the FS market
Lesson 4: Creating an appropriate product range must be perfectly timed and well crafted
[Missing title]
Retailers must offer a product range to suit different tastes and needs
Retailers must be careful not to grow overconfident from early success and overstretch their reach
Lesson 5: Switching strategies must focus on the real benefits retailers have to offer
Convenience is a powerful attraction to consumers
Rewards and loyalty schemes are hugely important for incentivizing consumers to take a risk and switch providers

More Retailer Articles

by No To the Bike Parking Tax

Aarkstore.com announce a new report through its vast collection of market research report :

Lessons for Retailers in Financial Services

For some-more information, Great fully visit:

http://www.aarkstore.com/reports/Lessons-for-Retailers-in-Financial-Services-118847.html

Introduction

Low profit margins in groceries have incentivized retailers to expand their non-food allocation. The FS industry offers attractive cross selling opportunities as retailers can leverage their extensive customer information to yield advantages in the financial services domain. This report explores the strategies that are essential for successfully crossing into the financial services space.

Features and benefits

* Improve entry strategy through better understanding the advantages and disadvantages of affinity partnerships.
* Create an appropriate product range through understanding the need to build a reputation for excellence before expanding into new product arenas.
* Improve customer acquisition through an appreciation of the role of independent recognition and rewards schemes.

Highlights

Trust in personal banks has however remained robust throughout the downturn. Banks may have suffered as an industry collectively but many consumers have felt their relationships with their personal bank remain relatively unchanged. Few consumers lost money directly from bank collapses given the extensive government guarantees in place.
Affinity partnerships between retailers and FS providers have become commonplace in providing retailers an easier route into the financial services domain. This normally takes the form of white labeling , where retailers offer their partner s financial products repackaged bearing the supermarket brand.
Supermarkets and other popular retailers must ensure they have the reward systems in place to offer enough of an incentive for consumers to go through the hassle of moving their primary bank. The rewards present must be obvious and attractive, the majority of consumers will not take the time to move if the savings are only minor

Your key questions answered

* What are the barriers to entry for retailers looking at the FS sector?
* How has the recession changed consumers’ attitudes to their banks?
* What advantages do retailers have compared to other institutions in entering the FS market?
* What are the pitfalls to avoid on entering this competitive market?

Table of Contents :
OVERVIEW
Catalyst
Summary
Methodology
INTRODUCTION
Insight: Significant barriers to entry exist for the FS industry
The growing commoditization of FS products should encourage would-be entrants
Insight: The banking crisis created an opportunity for new entrants but entry remains challenging
Trust in personal banks has however remained robust throughout the downturn
Insight: Retailers are looking to boost revenue through distributing FS products
Retailers have proven capable of overcoming many of the barriers to the FS industry through partnerships
Insight: Affinity partnerships offered retailers a low cost route to the FS market
Insight: In 2011 and beyond retailers will increasingly become the manufacturers of FS products
Potential upsides:
Potential downsides:
Key considerations for retailers targeting the FS sector
KEY LESSONS
Lesson 1: Retailers must be transparent about their partnerships or they risk sowing early seeds of distrust amongst consumers
Retailers must embrace their partnerships and present them to the consumer as being in their interest
Retailers need to avoid the unpleasant surprise and instead highlight the advantages of their partnerships
Retailers must promote values of honesty and professionalism if they are to target difficult silos of the FS market
Lesson 2: Acquisition of core banking services will be challenging and costly
Consumers are more trusting of banks to deal with complicated money matters
Lesson 3: Independent recognition is essential to retailers whose experience may be questioned by careful consumers
Retailers are beginning to gain experience and recognition in the FS market
Lesson 4: Creating an appropriate product range must be perfectly timed and well crafted
[Missing title]
Retailers must offer a product range to suit different tastes and needs
Retailers must be careful not to grow overconfident from early success and overstretch their reach
Lesson 5: Switching strategies must focus on the real benefits retailers have to offer
Convenience is a powerful attraction to consumers
Rewards and loyalty schemes are hugely important for incentivizing consumers to take a risk and switch providers

More Retailer Articles