Financial Services
India Credit card market study
15 Mar 2021
Context
- Company
Description: Global PE
- An
investment firm wanted to understand the credit card market in India and usage
behavior across the customers in terms of spending pattern, different credit
cards used and their feedback, preference for payment modes as per activities,
etc.
Our approach
- Conducted detailed quantitative survey (N=801) across 8 cities
to validate initial hypothesis developed and gather insights on the usage of
credit cards in Metro, T1 and T2 cities
- Conducted in-depth conversations (N=30) with stakeholders
including bank managers and employees in credit-card startups to understand the
generic behavior of the users
Praxis value delivered
- Provided client with deep insights on
the current usage patterns and preferences of credit card customers and what
are the key parameters of selection and switching credit cards
- Helped client to identify how the
credit card market is expected to change in terms of future spend by users and
which are the main activities they consider while using credit cards and the
reasons for the same
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