Abstract
NEW RESEARCH REPORT BY MERCATOR ADVISORY GROUP
General purpose payment card usage is on the rise in many markets in Asia. As
such, competition between card issuers to gain and retain customers has
significantly intensified. Similarly to the U.S. card market, many issuers in
Asia are offering a vast array of reward programs, including frequent flyer
air mileage, cash back, points-based programs, and others. As reward programs
become more popular and accepted, Asian consumers appear to welcome such
programs and are making wide use of them. However, the track-record of these
programs in increasing customer loyalty and boosting card usage is mixed.
Consumers are not only constantly seeking the card that offers them the most
benefits but those that best suit their lifestyles and payment needs as well.
The variety of reward programs currently offered across Asia is richer than
ever, and it has become increasingly challenging for issuers to offer programs
that distinguish their product from that of their competitors' . The key for
issuers is to know their customers and offer products and services that are
relevant and tailored to their customers' preferences and payment needs.
"Reward programs alone are no longer enough to attract customers. Issuers
must have a deep understanding of their customers' profiles and spending
habits and target and market reward programs accordingly," notes Elisa
Athonvarangkul, Analyst, International Advisory Service. "Being able to
offer reward programs that are distinctive and accommodate all of your
customers' diverse lifestyles and preferences is critical to success."
The most recent report from Mercator' s International Advisory Service provides
an overview of the variety of reward programs in Asia' s card markets. The
report presents a comparison of select loyalty programs across Asia, a review
of innovations in reward programs and select debit card loyalty programs, a
discussion of issuers' strategies to increase customer loyalty and boost card
usage, as well as Asian consumers' response.
This report contains 34 pages and 5 exhibits.
View Cart
