Retail deposits for 2016 are expected to be 6% higher than in 2015. However, market conditions over the next few years are predicted to dampen prospects for future growth. UK retail deposits will increase at a CAGR of 3.3% during 2016-20 to reach £1,606bn by the end of the forecast period.
- Personal deposits are expected to grow slowly as the economic outlook remains fragile.
- The rate advantages offered by fixed-term accounts are steadily falling, making long-term saving less attractive to consumers.
- Low savings rates will impact consumers’ inclination to save.
“UK Savings: 2016 Review, Forecasts and Future Opportunities” looks at how the personal savings market will develop up to 2020, analyzes the factors that will determine this outlook, and examines savers’ intentions and behavior. It forecasts personal savings deposits up to 2020, analyzes the factors determining the outlook of the savings market, and looks at what providers are doing to improve their performance. The report concludes with analysis of drivers of provider choice and how banks can harness the personal goals of consumers and encourage them to save.
Reasons To Buy
- Understand the developments shaping the UK retail savings market.
- Inform your future plans with our five-year forecast for retail deposits.
- Discover how market forces will influence customers’ ability and willingness to save.
- Discover what impact new products, innovations, and strategies will have on the savings market.
- Learn how to respond to consumers’ attitudes towards saving and personal finance.
Table of contents
RETAIL DEPOSITS ARE SET FOR SLOW GROWTH
REGULATIONS AIM TO CHANGE THE UK SAVINGS MARKET
SAVINGS PROVIDERS CAN ACQUIRE CUSTOMERS DESPITE POOR MARKET CONDITIONS
RATE AND REPUTATION WILL HELP DRIVE SAVINGS