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Retailer Consumer Finance and Banking in the Asia-Pacific Region
© Finaccord Ltd., 2014 1
Retailer Consumer Finance and
Banking in the Asia-Pacific Region Report prospectus
June 2014
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Retailer Consumer Finance and Banking in the Asia-Pacific Region
© Finaccord Ltd., 2014 2
Prospectus contents
What is the research?
What is the rationale?
What methodology has been used?
How do retailers surveyed break down?
Which specific retailing groups have been researched
What is the report structure?
What are the key features of the research?
How can the research be used?
How can the PartnerBASE™ be used?
Who can use the research?
What are some of the key findings?
What is the cost and format?
What other reports are available?
How can the research be purchased?
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4-5
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Retailer Consumer Finance and Banking in the Asia-Pacific Region
© Finaccord Ltd., 2014 3
What is the research?
Retailer Consumer Finance and Banking in the Asia-Pacific Region is a report, based on a survey
of over 1,500 prominent retail brands in 14 countries, about the provision of consumer finance at
the point of sale by major retailers across the Asia-Pacific region. Retailer initiatives in savings
deposits, personal loans, mortgages and international remittances are also considered.
Countries covered are Australia, China, Hong Kong, India, Indonesia, Japan, Malaysia, New
Zealand, the Philippines, Singapore, South Korea, Taiwan, Thailand and Vietnam.
In total, the research identifies over 150 consumer finance schemes and over 70 product initiatives
in retailer banking, thereby providing a definitive analysis of retailer consumer finance and banking
in the Asia-Pacific region that goes far beyond the scope of previous published research.
Moreover, the PartnerBASE™ dataset that accompanies the report details each of the many retailer
consumer finance and banking programs traced by Finaccord, specifying the operating models
used by retailers and the identities and ultimate holding companies of the ultimate product
providers in each case.
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Retailer Consumer Finance and Banking in the Asia-Pacific Region
© Finaccord Ltd., 2014 4
What is the rationale?
A number of factors, some of which are specific to consumer finance or banking and some to
retailing, provide the rationale for the development of this report. With reference to consumer
finance and banking, in particular, these factors include those which follow:
- the consumer credit markets of many countries are continuing to grow and retailers can take
advantage of this through setting up their own consumer finance schemes;
- in terms of the outright number of opportunities, retailing is one of the most important fields in
which providers of consumer finance can establish partnerships;
- retailer-branded banks can represent an attractive alternative to mainstream consumer banks in
markets in which banking sector consolidation has reduced the range of options available;
- the customer information gathered from consumer finance and banking products can be used to
cross-sell insurance and other services.
Furthermore, dynamics in the retailing market itself also give rise to increasing rationale both for
retailer consumer finance and banking and a comprehensive study on the subject covering the
Asia-Pacific region.
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© Finaccord Ltd., 2014 5
What is the rationale? (continued)
Key developments in the retailing sector include:
- an improving environment for consumer lending, thereby encouraging retailers to develop their
own consumer finance schemes in order to capture a share of this market;
- retailer consolidation in both more and less developed markets which helps to produce national
champions with the branding, muscle and general profile needed to succeed in the consumer
finance and banking sectors in these countries;
- retailer growth in the less developed markets as an increasing proportion of consumers allocate
their expenditure to formal retailing concepts as opposed to informal street markets and the like;
- a mature environment for retailing in the more developed markets which signifies that retailers
need to investigate new means of achieving revenue growth which can include financial services, in
general, and consumer finance and banking, in particular;
- increasing internationalisation which potentially paves the way for cross-border alliances between
retailers and mainstream banks.
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Retailer Consumer Finance and Banking in the Asia-Pacific Region
© Finaccord Ltd., 2014 6
What methodology has been used?
The main research input into this study is Finaccord’s on-going investigation of the involvement in
financial services, in general, and consumer finance and banking, in particular, of over 1,500 major
retailing brands across 14 countries in the Asia-Pacific region.
In the specific context of this report, the aim of the investigation is to gather top-level data concerning
the consumer finance and banking products offered by the organisations in question, the operating
models that they use and the providers with which they work in this context.
Naturally, given that there are literally millions of smaller retailers in total in the territories reviewed,
the majority with just a single outlet, Finaccord has sought to focus on the very largest entities that
are likely to be of most strategic interest to organisations involved in the consumer finance and
banking sectors. Indeed, the major retailers break down by category and by country as illustrated in
the graphics overleaf.
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Retailer Consumer Finance and Banking in the Asia-Pacific Region
© Finaccord Ltd., 2014 7
How do retailers surveyed break down? (1)
BY TYPE BY DISTRIBUTION MODEL
Fashion, 22.0%
Supermarket / hypermarket,
15.4%
Department store / variety,
14.6%
Health and beauty, 10.3%
Consumer electronics,
11.4%
Books and media, 4.1%
DIY / furniture / home, 5.8%
Speciality, 8.4%
Sporting goods, 3.4%
Fuel, 4.6%
Mixed, 41.4%
Online only, 12.0%
Off line only, 46.6%
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Retailer Consumer Finance and Banking in the Asia-Pacific Region
© Finaccord Ltd., 2014 8
How do retailers surveyed break down? (2)
BY COUNTRY
China, 15.5%
Japan, 13.8%
Australia, 11.8%
India, 10.6%Malaysia, 5.9%
New Zealand, 5.8%
South Korea, 5.7%
Hong Kong, 5.3%
Singapore, 4.6%
Taiwan, 4.5%
Thailand, 4.4%
Indonesia, 4.2%
Philippines, 4.1%
Vietnam, 3.9%
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Retailer Consumer Finance and Banking in the Asia-Pacific Region
© Finaccord Ltd., 2014 9
Which specific retailing groups
have been researched?
Among the major retailing groups included in the research are:
Abenson
Aditya Birla Group
AEON
Alibaba
Amazon
Arcadia
ARCS
Auchan
Best Buy
Best Denki
Bharti Group
Bic Camera
Bossini International
Brazin
Brilliance Group
Caltex
Carrefour
Casino
Central Retail
Chevron
Chia Tai
China Resources Enterprise
Chongqing General Trading Group
Chow Sang Sang
CJ Group
Coles Group
Dairy Farm International
Dashang Group
Direct Group
E.Land Group
eDion
ExxonMobil
F.J. Benjamin
FamilyMart
Far Eastern Group
Foodstuffs
Future Group
Godrej Group
GOME
Grupo Inditex
GS Retail
Harvey Norman
Hutchison Whampoa
Hyundai
Idemitsu Kosan
IKANO
India Today Group
Isetan Mitsukoshi
Izumi
J Front Retailing
Jardines
Jaspal
JB Hifi
K Raheja
Kawan Lama Group
K's Holding
Landmark Group
Lane Crawford Joyce Group
LAWSON
LG
Li Ning
Life
Lifestyle International
L'Oréal
Lotte
Luk Fook Holdings
Matahari Putra Prima
Mercuries
Metro Group
Mirabell International
Mitra Adi Perkasa
Okuwa
Padini Holdings
Pertama Holdings
Popular Holdings
President Chain Store
Progressive Enterprises
Pumpkin Patch
Ramayana Lestari Sentosa
Reliance Industries
Rocket Internet
Royal Dutch Shell
RSH
Rustan Group
Samsung
Senheng Electric
Seven & I
Shimamura
Sisley
Suning Commerce Group
Tata Retail
Tesco
Uny
Viveks
Walmart
Warehouse Group
Wesfarmers Group
Woolworths (Australia)
Xebio
Yamada Denki
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Retailer Consumer Finance and Banking in the Asia-Pacific Region
© Finaccord Ltd., 2014 10
What is the report structure?
0. Executive Summary: providing a concise evaluation of the principal findings of the report.
1. Introduction: offering rationale, description of methodology and other related notes.
2. Regional Overview: an Asia-Pacific overview of the activity of major retail brands in consumer
finance and banking. As well as a comparative analysis of operating models used in these areas,
this section also analyses the importance of providers owned by major financial and retailing
groups such as AEON, Bajaj Finance, China Merchants Bank, FlexiGroup, GE, HSBC, Mizuho
Financial Group, Orico, Rakuten and Seven & I.
3. Australia: an in-depth analysis of the market for retailer consumer finance and banking in
Australia. Key partnerships are identified between major Australian retail chains and providers of
consumer finance, and detailed commentary is also provided to describe the involvement of the
same universe of retailers in the field of banking products, namely savings deposits, personal
loans, mortgages and international remittances.
4 - 16: chapters for all other countries are structured along similar lines to that for Australia.
17. Appendix: this final section provides a comprehensive listing of retailers operating in the areas
of consumer finance or banking through captive or joint venture providers.
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Retailer Consumer Finance and Banking in the Asia-Pacific Region
© Finaccord Ltd., 2014 11
What are the key features of the research?
Key features of this report include:
• definitive coverage of the involvement in consumer finance and banking of over 1,500 major retail
brands in 14 countries across the Asia-Pacific region;
• focus on over 150 consumer finance schemes: which providers of point-of-sale finance are strong
in which countries and with which retailers do they collaborate?
• comprehensive listing of retailers using captive or joint venture point-of-sale finance divisions or
subsidiaries for their consumer finance schemes;
• identification of over 70 individual product initiatives in retailer banking including the split by
country, retailer category and retailer distribution model (i.e. offline-only, online-only and mixed);
• identification of numerous consumer finance and banking product providers with which major retail
chains co-operate including both long-established banking organisations and innovative new
entrants.
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Retailer Consumer Finance and Banking in the Asia-Pacific Region
© Finaccord Ltd., 2014 12
How can the research be used?
You may be able to use this report and the PartnerBASE™ that accompanies it in one or more of
the following ways:
• gain rapid access to a unique source of intelligence covering virtually all significant retail brands
across a wide range of geographies in the Asia-Pacific region;
• appreciate how the prevalence of initiatives in retailer consumer finance and banking varies by
country, by retailer category and by retailer distribution model;
• monitor the activity of key national and international competitors in the retailer consumer finance
sector;
• evaluate the potential for acquiring the existing consumer finance portfolios of retail groups by
purchasing equity stakes in captive finance entities or taking over internally-managed schemes;
• learn more about the growing number of retailer banks across the Asia-Pacific region including
AEON Bank, Rakuten Bank and Seven Bank.
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Retailer Consumer Finance and Banking in the Asia-Pacific Region
© Finaccord Ltd., 2014
Retailer Category Country Product typeProduct
offered?Operating model Partner(s) UHC(s) of partner(s)
Power Buy Consumer electronics Thailand International remittances Yes External partner Western Union Western Union
Rakuten Department store / variety Japan International remittances Yes Captive partner Rakuten Bank Rakuten
Robinson Department store / variety Thailand International remittances Yes External partner Western Union Western Union
Seibu Department store / variety Japan International remittances Yes Joint venture partnerSeven Bank International
Money TransferSeven & I / Western Union
SM Department Store Department store / variety Philippines International remittances Yes Captive partner BDO SM Group
SM Supermarket Supermarket / hypermarket Philippines International remittances Yes Captive partner BDO SM Group
Filter by type
of retailer
Choose operating model Identify product
providers
Look up
specific retailers Filter by
product type
Select country Identify ultimate
owners of partners
13
How can the PartnerBASE™ be used?
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Retailer Consumer Finance and Banking in the Asia-Pacific Region
© Finaccord Ltd., 2014 14
Who can use the research?
1. Consumer finance companies: this study is an up-to-date and comprehensive source of information
about retailer consumer finance in 14 countries and represents an indispensable guide to over 150
retail brands that operate consumer finance programs;
2. Banks and insurance companies: consumer finance schemes can form an effective basis either for
developing broader retailer banking operations or for marketing a range of insurance products to large
and well-defined groups of consumers;
3. Retailers: consumer finance programs represent an important activity for numerous retail brands in
the Asia-Pacific region but how do they organise their involvement in this field and with which partner
organisations do they collaborate?
4. Providers of international remittance services: in addition to coverage of the mainstream banking
products of savings deposits, personal loans and mortgages, the research also identifies partnerships
between major retailers and providers of international remittance services;
5. Management consultancies: are you either assisting a retailer with the development of a consumer
finance or banking scheme or advising a bank or other lending institutions with respect to partnership
opportunities with major retail brands? This research will help you to evaluate the options in retailer
consumer finance and banking, saving time and effort on researching the subject yourself.
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Retailer Consumer Finance and Banking in the Asia-Pacific Region
© Finaccord Ltd., 2014 15
What are some of the key findings? 1. Retailers in the consumer electronics category are the most
likely to have established schemes for consumer finance
Source: Finaccord PartnerBASE
0% 20% 40% 60% 80% 100%
Books and media
Consumer electronics
Department store / variety
DIY / furniture / home
Fashion
Fuel
Health and beauty
Speciality
Sporting goods
Supermarket / hypermarket
Online only
Offline only
Mixed
% of major retail brands investigated with a consumer finance scheme
4.7%
33.9%
16.9%
20.2%
2.4%
0.0%
1.9%
5.4%
3.9%
5.4%
5.9%
6.3%
14.8%
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Retailer Consumer Finance and Banking in the Asia-Pacific Region
© Finaccord Ltd., 2014 16
What are some of the key findings? (cont.)
2. Across the 14 countries, just under 2% of the major retailers surveyed have set up an international
remittance service for their customers with most of these using a single, external partner for this
Source: Finaccord PartnerBASE
0%
20%
40%
60%
80%
100%
Provision rate Operating model
(see legend)
Joint venture partner
Captive partner
Multiple external partners
External partner
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Retailer Consumer Finance and Banking in the Asia-Pacific Region
© Finaccord Ltd., 2014 17
What are some of the key findings? (cont.)
3. JACCS is likely to be the leading provider of point-of-sale finance in Japan
whether its partnerships are viewed in unweighted or weighted terms
UNWEIGHTED SHARE OF PARTNERSHIPS WEIGHTED SHARE OF PARTNERSHIPS
Source: Finaccord PartnerBASE
JACCS, 46.9%
Orico, 18.8%
Credit Saison, 15.6%
AEON Credit Service, 9.4%
Cedyna, 9.4%
JACCS, 52.0%
Credit Saison, 17.8%
Cedyna, 15.1%
Orico, 11.7%
AEON Credit Service, 3.4%
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Retailer Consumer Finance and Banking in the Asia-Pacific Region
© Finaccord Ltd., 2014 18
What are some of the key findings? (cont.)
4. Key findings from the executive summary include:
• consumer finance schemes are most widespread among major retailers in New Zealand given a
provision rate of 18.9%, followed by China at 16.7% and Japan at 16.4%;
• retail brands in the consumer electronics category are the most likely to offer consumer finance
with a provision rate of 33.9%, followed by retailers of DIY, furniture and home products (20.2%)
and department store and variety retail brands (16.9%);
• across the various retailer banking initiatives identified, over three quarters involve captive
partners alone – with Japan's AEON Bank, Rakuten Bank and Seven Bank among the most
notable of these – while the remaining 22.7% involve single external partnerships with banks;
• 29 major retail brands (or 1.9% of those surveyed) offer international remittance services with
Western Union used as a direct provider in 14 cases and as a joint venture partner in the case of
Seven & I's Seven Bank International Money Transfer.
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Retailer Consumer Finance and Banking in the Asia-Pacific Region
© Finaccord Ltd., 2014 19
What is the cost and format?
Retailer Consumer Finance and Banking in the Asia-Pacific Region is available as a standard
PDF document. The PartnerBASE™ that accompanies it at no further charge is in Excel format.
Costs for this research set and selected other comparable, international titles are as follows:
* For UK-based clients, VAT at the prevailing rate will be added to the basic price. Costs quoted are for a single site user licence only. For
a corporate user licence, please see the final slide for further details. Invoices can be paid in EUR or USD, at the prevailing exchange rate,
if preferred. For acquisition of multiple reports, please contact Finaccord - discounts may be available.
Retailer Consumer Finance and Banking in the Asia-Pacific Region GBP 995
Global Retailer Consumer Finance and Banking GBP 2,495
Global Retailer Insurance and Assistance GBP 2,495
Global Retailer Online Payment Acceptance GBP 3,495
Global Retailer Payment, Gift and Loyalty Cards GBP 3,495
Retailer Consumer Finance and Banking in Europe GBP 1,295
Retailer Consumer Finance and Banking in North and Latin America GBP 995
Retailer Insurance and Assistance in the Asia-Pacific Region GBP 995
Retailer Insurance and Assistance in Europe GBP 1,295
Retailer Insurance and Assistance in North and Latin America GBP 995
Retailer Online Payment Acceptance in the Asia-Pacific Region GBP 1,295
Retailer Online Payment Acceptance in Europe GBP 1,995
Retailer Online Payment Acceptance in North and Latin America GBP 1,295
Retailer Payment, Gift and Loyalty Cards in the Asia-Pacific Region GBP 1,295
Retailer Payment, Gift and Loyalty Cards in Europe GBP 1,995
Retailer Payment, Gift and Loyalty Cards in North and Latin America GBP 1,295
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What other reports are available?
Australia GBP 795 France GBP 795 Malaysia GBP 795 South Korea GBP 795
Brazil GBP 795 Germany GBP 795 Mexico GBP 795 Spain GBP 795
Canada GBP 795 India GBP 795 Poland GBP 795 Turkey GBP 795
Chile GBP 795 Italy GBP 795 Russia GBP 795 UK GBP 795
China GBP 795 Japan GBP 795 South Africa GBP 795 USA GBP 795
Retailer Payments, Banking, Insurance and Assistance in...
A variety of country-specific reports and associated PartnerBASE™ datasets about retailer
payments, banking, insurance and assistance are also available from Finaccord, as listed below.
These are based in part upon the same research programs as the multi-country titles but focus
instead on particular countries.
* The same notes apply here as on the previous page
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© Finaccord Ltd., 2014 21
How can the research be purchased?
Simple. Just go to the relevant area of the Finaccord web site available at
http://www.finaccord.com/order_global_rfsr.htm and fill in the online order form, clearly indicating:
• report required
• type of corporate user licence, if required *
• billing name
• address and e-mail address
• purchase order number, if applicable
Please allow up to one working day for the delivery of electronic copy by e-mail.
* For the corporate user licence please choose one of the following options:
1. One office, one country: no supplement over and above basic cost of reports ordered
2. Multiple offices, one country: additional 20% over and above basic cost of reports ordered
3. Multiple offices, two to ten countries: additional 50% over and above basic cost of reports ordered
4. Global (unlimited offices in unlimited countries): additional 100% over and above basic cost of reports ordered
VAT at the prevailing rate will be added to the price of any corporate user licence acquired by UK-based buyers.
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