Case Study Analyzing payment industry to gain a deeper understanding of payment preferences, competitive landscape and address consumer needs
Client: Leading Ecommerce company Industry: Financial Services Business Impact: • Market insights • Payment industry landscape • Strategical communication with industry influencers
Business Challenge Individuals and businesses are increasingly using convenient and accessible electronic payment products. Therefore, the Ecommerce and payments industry has changed significantly over the last few years. With the introduction of many new and innovative hassle-free payment methods, electronic payments and digital transactions have become much more common. While cash payment is still the preferred payment method in many countries, newer ones such as card payments, instalment payments, Cash on Delivery and mobile payments are becoming increasingly popular, thanks to their ease of use, flexibility and personalization. Since each country has specific payment preferences, Blueocean Market Intelligence’s client wanted to gain a deeper understanding of the payment preferences for India, China, Russia and Europe. They wanted to devise a solution that would effectively analyze the payment industry for each country, understand the competitive landscape and emerging needs of the consumers, and evaluate current tools and technologies. Blueocean Market Intelligence was asked to perform a comprehensive analysis of the commerce and payments space and highlight the potential opportunity areas for the client’s devices and services in these geographic markets.
Solution www.blueoceanmi.com
Relevant information was rounded up through the all-inclusive 360 Discovery™
approach which entails collecting information from syndicated data sources, publically available information and other existing research owned and shared by the client. Based on all the information collected, Blueocean Market Intelligence conducted comprehensive research on the financial cards and payment category within the consumer finance industry. Detailed information related to industry trends in India, China, Russia and Europe, including in-depth data on market share and market size (from the “big picture” qualitative analysis down to specific category data) were also monitored and analyzed to provide holistic intelligence around the payment market. Blueocean Market Intelligence then focused on each country and looked at its payment market, including extensive research on major payments categories in each of the client delivery channels: • • • •
Card Payments Cash on Delivery (CoD) Mobile Payments Instalment or EMI Payments
After which, answering the below given questions became easily possible: • What are the major operators and issuers in financial card and payments? • How will regulations impact the market? • What is the current state of emerging payment technologies such as mobile commerce?
Outcome This detailed analysis by Blueocean Market Intelligence uncovered that banks in India and China are pushing the credits cards markets through a consolidation period cautiously, citing low penetration and declining number of the credit cards. The study also revealed that the Ecommerce players and mobile phone manufacturers, such as Apple and Samsung, in these countries are offering innovative payments methods (EMI and COD) to strengthen their presence and allow consumers to enjoy products and services, which would otherwise be out of their reach. The final delivery was well-received by the client and leveraged as a key education resource to understand the payment market landscape and strategically communicate with industry influencers.
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About Blueocean Market Intelligence Blueocean Market Intelligence is a global analytics and insights provider that helps corporations realize a 360-degree view of their customers through data integration and a multi-disciplinary approach that enables sound, data-driven business decisions. Since we live in a highly dynamic and multidimensional world, we believe the most effective business decisions come from a synthesis of data streams and not from one-dimensional sources. Using our 360 Discovery approach, we ensure the comprehensive use of all available structured and unstructured data sources, enabling us to bring the best to bear against each engagement. Strong decision support is enabled through a combination of analytics, domain expertise, engineering and visualization skills brought together in harmony. Leading companies have benefited from our partnership with financial growth, 360 views of their markets and competition, and improved customer acquisition, satisfaction and retention. For more information or to request a consultation, please email info@blueoceanmi.com or visit us online at www.blueoceanmi.com. Seattle | Phoenix | Denver | Chicago Cincinnati | Bangalore | Dubai | London