英國網路金融服務市場

Abstract

This report provides a summary of the current state of play within the online financial services market, as well as considering future prospects for market growth. In addition, it examines the impact that the Internet is likely to have on the price of financial products and whether or not a reduction in margins is an inevitable consequence of further growth in the online financial services market.

Table of Contents

• Issues in the Market
• Scope of the report
• Insights and Opportunities
• There are clear opportunities for general insurers to exploit
• Allaying security fears would help stimulate online activity
• Search engine optimisation is the key to successful online marketing
• Keen pricing is likely to remain a feature of Internet shopping...
• ...although heavy online discounting may not be inevitable
• Report in Brief
• Rising Internet penetration is boosting online financial services
• The Internet is an effective way to target affluent consumers
• Mintel' s research findings: Online product ownership
• Mintel' s research findings: Purchasing behaviour
• Mintel' s research findings: The importance of price
• Mintel' s research findings: Attitudes towards online products
• Background
• Key points
• Major structural changes have altered the pattern of distribution
• The direct-sell revolution was the catalyst for change...
• ...but development of the Internet has accelerated this change
• Online financial services have a number of inherent advantages
• The Internet is one part of a multichannel strategy
• Market Factors
• Key points
• Rising Internet penetration is boosting online financial services
  • Figure 1: British Internet penetration at home/work/place of study or elsewhere, by gender, socio-economic group, age, region and working status, 2001-06
• An increase in the range of access routes will also boost usage
• The sharp rise in broadband connections will also be significant
  • Figure 2: Broadband Internet connections in the UK, 2001-06
• Changing lifestyles are impacting on access requirements
• The Internet is performing an increasing role in people' s lives
• A number of potential market barriers are also being tackled...
• ...although security fears continue to act as a drag on the market
• Steps are being taken, but more needs to be done to allay consumer fears
• Online User Profile
• Key points
• The Internet is an effective way to target affluent consumers
  • Figure 3: British Internet usage profile, by gender, socio-economic group, age and working status, October 2006
• Consumers now conduct a broad range of activities online
  • Figure 4: Types of activity undertaken on the Internet in the last three months, 2003-06
• Finance news sites offer little appeal for online browsers
  • Figure 5: Websites browsed for information purposes in the last three months, 2002-06
• Insurance and banking sites attract a rising flow of potential buyers
  • Figure 6: Websites browsed for information purposes with a view to possibly buying in the last three months, 2002-06
• Financial sector still lags behind in terms of online purchases
  • Figure 7: Websites actually purchased from in the last three months, 2002-06
• Trade Perspective
• Internet sales have increased strongly in the last few years
• The Internet provides businesses with a range of benefits
• Convenience and cost are the key benefits to the consumer
• It allows customers to shop around; but not all are price-sensitive
• Future growth in Internet sales seems assured
• The Consumer -- Online Product Ownership
• Key points
• Survey background
• Almost a third of all adults can access their current account online
  • Figure 21: Proportion of adults who have finance accounts registered online, November 2006
• Two thirds of heavy Internet users hold online financial accounts
  • Figure 22: Proportion of adults who have finance accounts registered online, by Internet usage, November 2006
• More than half of ABs and 25-34s can access their finances online
  • Figure 23: Proportion of adults who have finance accounts registered online, by gender, age, socio-economic group, lifestage and Mintel' s Special Groups, November 2006
• High earners are most likely to hold online financial accounts
  • Figure 24: Proportion of adults who have finance accounts registered online, by working status, income, TV region and ACORN category, November 2006
• Over half of all broadsheet readers manage their finances online
  • Figure 25: Proportion of adults who have finance accounts registered online, by technology usage, newspaper readership, commercial TV viewing and supermarket usage, November 2006
• A fifth of ABs can access investment products online
  • Figure 26: Proportion of adults who have selected finance accounts registered online, by gender, age, socio-economic group, lifestage and Mintel' s Special Groups, November 2006
• More than half of all high earners hold an online savings account
  • Figure 27: Proportion of adults who have selected finance accounts registered online, by working status, income, TV region and newspaper readership, November 2006
• One in 12 consumers have online access to four or more products
  • Figure 28: Number of financial product types registered for online access, November 2006
• Almost half of ABs are multiple online financial account holders
• Figure 29: Number of financial product types registered for online access, by gender, age and socio-economic group, November 2006
• Online current accounts dominate the single-product group
  • Figure 30: Repertoire analysis on financial products registered online, November 2006
• Lloyds TSB and HBOS have the most online account holders
  • Figure 31: Companies online finance accounts are held with, November 2006
• Young adults are more likely to hold accounts with the ' big five'
  • Figure 32: Main types of providers online finance accounts are held with, by gender, age, socio-economic group, working status and income, November 2006
• Internet banks have the potential to generate cross-sales
  • Figure 33: Type of online financial accounts held by customers of the main types of provider, November 2006
• Lloyds TSB and Barclays have the highest concentration of ABC1s
  • Figure 34: Online customer profiles of the ' big five' clearing banks, by gender, age and socio-economic group, November 2006
• Four in ten Internet users would manage all their accounts online
  • Figure 35: ' Can imagine a time when I manage all my financial accounts over the Internet' , November 2006
• Over half of ABC1 18-34 Internet users would run all their finances online
  • Figure 36: ' Can imagine a time when I manage all my financial accounts over the Internet' , by gender, age, socio-economic group and age/socio-economic group, November 2006
• Most heavy Internet users can imagine running their accounts online
  • Figure 37: ' Can imagine a time when I manage all my financial accounts over the Internet' , by lifestage, TV region, Internet usage and newspaper readership, November 2006
• The Consumer -- Purchasing Behaviour
• Key points
• Motor insurance is the most common financial online purchase
  • Figure 38: Proportion of adults who have arranged financial products online in the last 12 months, November 2006
• Four in ten Internet users bought financial products online
  • Figure 39: Proportion of adults who have arranged financial products online in the last 12 months, by Internet usage, November 2006
• The 45-54s form a key target audience for online travel policies
  • Figure 40: Proportion of adults who have arranged financial products online in the last 12 months, by gender, age, socio-economic group, lifestage and Mintel' s Special Groups, November 2006
• Almost six in ten high earners bought financial products online
  • Figure 41: Proportion of adults who have arranged financial products online in the last 12 months, by working status, income, TV region and newspaper readership, November 2006
• One in seven adults bought two or more products online last year
  • Figure 42: Number of financial products arranged online in the last 12 months, November 2006
• Over a quarter of ABs and 25-34s made multiple online purchases
  • Figure 43: Number of financial products arranged online in the last 12 months, by gender, age and socio-economic group, November 2006
• The Internet offers online insurers a chance to boost cross-sales
  • Figure 44: Repertoire analysis on financial products arranged online, November 2006
• Search engines provide a key source of Internet business
  • Figure 45: Types of websites used when arranging online financial purchases, by gender, November 2006
• Younger consumers are most likely to use search engines
  • Figure 46: Types of websites used when arranging online financial purchases, by age group, November 2006
• ABs tend to use the broadest range of websites
  • Figure 47: Types of websites used when arranging online financial purchases, by socio-economic group, November 2006
• Almost 19 million consumers can see themselves buying online
  • Figure 48: Proportion of adults who might arrange financial products via the Internet in the future, November 2006
• Six in ten 18-34s might buy a financial product online
  • Figure 49: Proportion of adults who might arrange financial products via the Internet in the future, by gender, age, socio-economic group, lifestage and Mintel' s Special Groups, November 2006
• Three in ten in the ABC1 family group might buy home cover
  • Figure 50: Proportion of adults who might arrange insurance policies via the Internet in the future, by gender, age, socio-economic group, lifestage and Mintel' s Special Groups, November 2006
• One in seven 25-34-year-olds would apply for a credit card online
  • Figure 51: Proportion of adults who might arrange other financial products via the Internet in the future, by gender, age, socio-economic group, lifestage and Mintel' s Special Groups, November 2006
• The Consumer -- The Importance of Price
• Key points
• The Internet is encouraging shoppers to be price-conscious
  • Figure 52: ' More likely to compare prices when buying or browsing online' , November 2006
• The 25-34s are most likely to compare prices when buying online
  • Figure 53: ' More likely to compare prices when buying or browsing online' , by gender, age, socio-economic group and age/socio-economic group, November 2006
• Heavy Internet users tend to be more inclined to compare prices
  • Figure 54: ' More likely to compare prices when buying or browsing online' , by lifestage, TV region, Internet usage and newspaper readership, November 2006
• Online financial purchasers are particularly price-conscious
  • Figure 55: ' More likely to compare prices when buying or browsing online' , by online financial purchasing behaviour, November 2006
• Half of Internet users would only buy discounted products online
  • Figure 56: ' Would only buy online if the products are discounted' , November 2006
• Young adults are most expectant of online discounts
  • Figure 57: ' Would only buy online if the products are discounted' , by gender, age, socio-economic group and age/socio-economic group, November 2006
• Most popular tabloid readers demand better rates online
  • Figure 58: ' Would only buy online if the products are discounted' , by lifestage, TV region, Internet usage and newspaper readership, November 2006
• Only a third of online savers demand preferential rates
  • Figure 59: ' Would only buy online if the products are discounted' , by online financial purchasing behaviour, November 2006
• Convenience rather than price is widely seen as the key benefit
  • Figure 60: Advantages of arranging finances online, by gender, November 2006
• Heavy Internet users focus more on convenience than price
  • Figure 61: Advantages of arranging finances online, by Internet usage, November 2006
• Internet-exclusive offers are more likely to attract young adults
  • Figure 62: Advantages of arranging finances online, by age group, November 2006
• Three in ten ABs are attracted by cheaper products
  • Figure 63: Advantages of arranging finances online, by socio-economic group, November 2006
• The Consumer -- Attitudes towards Online Products
• Key points
• Allaying security fears could help stimulate online activity
  • Figure 64: Factors which might persuade consumers to arrange their finances online, by gender, November 2006
• Price incentives hold more sway with medium Internet users
  • Figure 65: Factors which might persuade consumers to arrange their finances online, by Internet usage, November 2006
• Improved security could have a big impact on 18-24s and 35-44s
  • Figure 66: Factors which might persuade consumers to arrange their finances online, by age group, November 2006
• Three in ten ABC1 non-subscribers expressed security fears
  • Figure 67: Factors which might persuade consumers to arrange their finances online, by socio-economic group, November 2006
• Only half of Internet shoppers have bought financial products online
  • Figure 68: Attitudes towards the Internet and other service-delivery channels, November 2006
• The Future