Market Research Reports, Inc. has announced the addition of “Retail Savings in the UK - Key Trends and Opportunities to 2019” research report to their offering. See more at- http://mrr.cm/ohU
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Introduction to Report
Launch Date: October 31, 2015
Number of Pages: 71
Geography Coverage: United Kingdom
Available Format: PDF
Price For Single User License: USD 2,795
Price For Site User License: USD 5,590
Price For Global User License: USD 8,385
Delivery Time: Within 24 Hours (During Working Days)
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About the Report
This, combined with record ow inflation – hasn’t been
above 0.1% since January 2015, and dropped back to -
0.1% in September 2015 – means that real wages have
grown substantially throughout 2015, something not seen
since before the financial crash. Furthermore, UK
unemployment fell to a seven-year low of 5.4% in the
three months to August, with 79,000 more people in work
than the previous quarter.
Two million customers have switched current account
providers in the two years since the Payments Council
Current Account Switch Service for individuals, small
companies and charities was introduced to make the
process easier. The scheme is also known as the 7-day
switch aimed to promote competition in the market and
allow consumers more choice.
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Key Highlights:
The outstanding balance of total deposits held by
households increased from GBP1.10 trillion at the end of
2010 to GBP1.28 trillion at the end of December 2014, an
increase of 16.74% and a CAGR of 3.74%.
The outstanding balance rose by a further 2.7% to
GBP1.31 billion at the end of July 2015, since the start of
the year.
Despite more people being in work, and those in work
seeing growth in real wages, people are saving a smaller
percentage of their wage than at any time since 2008.
People generally became very wary of debt in the
immediate aftermath of the financial crash, which
encouraged saving and saw the saving rate rise to 11.4%.
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Key Highlights Continues…
A recent surge in consumer confidence though, has
largely seen people lose that fear, as the rate plummeted
to 4.6%, with people looking towards spending more –
spending on hotels and restaurants was up 8% in 2015 up
to October, for example – or paying off debt with higher
interest rates than savings accounts can offer.
This suggests that despite record-low savings rates being
offered in a very uncompetitive market, banks can still
attract customers on mass with a relatively good offer.
Santander has been a perfect example of this in 2015,
who despite charging GBP2.0 per month for its 123
account, has attracted 98,400 new customers this year
due to a more competitive interest rates and cashback on
household bills.
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Scope:
This report provides market analysis, information and
insights into the UK retail savings industry
It provides a breakdown of the types of savings products
offered in the UK
It analyzes drivers and the outlook for the market
It provides information on the main banks in the UK
market
It covers news and regulatory developments
It forecasts the future of the retail savings industry in the
UK over the next five years
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Reasons to Buy:
Gain an understanding of the UK retail savings industry.
See monthly and annual statistics on every aspect of the
market, both in written form and shown in graphs and
tables.
Read analysis of the relevant market statistics, indicating
what has been happening in the retail savings market,
why it has been happening, and what to expect over the
coming years.
Read about all the economic factors impacting the
industry.
Read about how individual banks and building societies
are affecting the market, in terms of market share and
innovation.
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Report Coverage:
1. Executive Summary
2. Introduction
3. Market Analysis
4. Consumers
5. Competitive Landscape
6. Market Outlook
7. Regulation and Compliance
8. News
9. Deals
10. UK Retail Banks
11. Appendix
For more details regarding Report coverage see the last slide
All logos and Images mentioned on this slide belong to their respective owners.
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Company Coverage:
1. Santander UK Plc
2. Royal Bank of Scotland Group Plc
3. HSBC Bank Plc
4. Barclays Plc
5. Lloyds Banking Group Plc
6. HSBC
7. Nationwide
For more details regarding Company coverage see the last slide
All logos and Images mentioned on this slide belong to their respective owners.
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