What Chinese Consumers Want From Banks
- Topics:
- Commercial Banking
- Tags:
- Bank,
- China,
- Consumer,
- Finance,
- Financial Accounting,
- Financial Services,
- Foreign Bank,
- McKinsey & Co.
- Source:
- McKinsey & Company
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Overview: Foreign and domestic lenders alike are preparing for the opening of China's banking market, in 2007. A consumer bias for personal service delivered through branches could leave many foreign banks ill prepared to compete in China's $40 billion retail-banking market. Foreign banks should partner with local institutions, offer better customer service, and tailor products to China's affluent younger consumers. This article includes the following exhibits: Chinese consumers want better service, 'Moments of truth'łopportunities for banks to influence their customers' attitudes about their service, Younger Chinese consumers are more willing to pay for financial advice.
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Format: HTML | Date: Jun 2005 | Pages: 3
