Abstract
Introduction
This brief provides an accurate and up to date over view of the size and
composition of the UK plastic cards market from 2004 through to 2008 alongside
forecasts through to 2013. This includes not only concrete market sizing data
including number of cards and balances outstanding, but also an overview of
the systemic challenges facing the industry, and insight into the effects of
the recession.
Scope of this research
- Includes UK market sizing from 2004-2008, with metrics on card numbers,
the number and value of transactions, POS, ATMs, fraud and outstandings
- Full range of five year forecasts covering the credit, debit, private
label and charge card markets under a range of potential economic scenarios
- The number of cards, number of transactions and value of transactions are
forecast to 2013. These are also presented by card type.
- This brief also contains macroeconomic data on the major issues affecting
the card market and what they indicate for the future.
Research and analysis highlights
Card use continues to grow strongly. There were more than 10 billion plastic
card transactions in 2008, an average of 61.7 transactions per card (59.8 in
2007), with the average value of these transactions rising to £57.20.
With merchant acceptance growing, consumers are becoming more willing to use
cards for smaller day to day transactions
Card based credit is falling as a proportion of total consumer credit
borrowings, falling from 28% in 2004, to 24% by 2008. With consumers becoming
more risk adverse as a result of the recession this has the potential to fall
further in the near term. There is a risk this may be the beginning of a
longer term trend of a move away from credit.
The value of transactions for all cards remains strong and grew by a CAGR of
9.9% between 2004 and 2008, increasing by £143 billion to reach
£579.5 billion in 2008. While the economic downturn will have an affect
on these transaction levels, growth will remain positive through to 2013, with
a CAGR of 2.4%
Key reasons to purchase this research
- Understand how the UK plastic card market has developed over the last five
years, and learn what shape the market will take in the future
- Gain a deeper understanding of what impact the recession is having on the
cards market today, and what impact it will have in the future
- Plan for the future effectively with Datamonitor' s range of forecasts
under neutral, optimistic, and pessimistic scenarios
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