China’s credit card market has been witnessing significant growth from the past few years with robust expansion in its economy. The credit cards are being increasingly used in numerous shopping malls and various online portals that carry luxury or world-class brands of consumer goods. This is mainly due to the advancement of technology in bank card industry, which is bringing transparency, ease, and security in the use of these cards. In future, with increasing trend of online shopping and other benefits, like reward points and discounts, offered by merchants as well as banks to attract customers, the number of credit cards are expected to grow significantly.
According to our latest research report, “China Credit Card Market Forecast to 2015”, the total number of credit cards issued in the country is expected to expand at a double-digit rate during the next few years. With continuous rise in young population, government support, advancement in e-banking services, and emerging trend of e-commerce, Chinese credit card market has been growing rapidly. Owing to all these factors, it is anticipated that total number of credit cards in China will grow at a CAGR of 24% during 2012-2015.
As per our research findings, shopping accounts for the largest share of total credit card spending in the country. Our report covers detailed analysis of credit card spending by category including shopping, entertainment, travel and accommodation, dining out etc. Besides, it also analyzes industry challenges affecting the fast track growth of the Chinese credit card industry.
Our report, “China Credit Card Market Forecast to 2015”, provides future forecast on the industry based on the correlation of past drivers, challenges, and opportunities for expansion after analyzing the macroeconomic factors as well. We have covered detail analysis of the credit card market including credit card transaction value and volume, corporate and personal credit cards, credit card loans, market share of leading credit card issuers, and number of credit cards along with their forecast. In this way, the report presents a complete and coherent analysis of the Chinese credit card industry, which will prove influential for clients.
Thorough analysis has been conducted on the key strategies of various national and international banks along with key highlights that will help the client to have an understanding of the competitors in the China credit card industry.