Frozen Food in Greece to 2009

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Frozen Food in Greece to 2009
Market Report, July 2005, 396 €

Description

IntroductionThis databook is a detailed information resource covering all the key data points on frozen food in Greece.
It includes comprehensive value, volume, segmentation and market share data.
The databook supplies actual data to 2004 and full forecasts to 2009.ScopeContains information on seven categories: bakery,fish & seafood, meat products, pizza, potato products, ready meals and vegetables.Provides market value, volume, expenditure and consumption data by market, segment and subsegment.Includes company and brand share data by category, as well as distribution channel data.Contains market value segmentation by demographic and socioeconomic group.HighlightsThe market for frozen food in Greece increased between 1999-2004, growing at an average annual rate of 5.0%.The leading company in the market in 2004 was Unilever.
The second-largest player was Groupe Danone, with Kanaki in third place.Reasons to PurchaseDiscover the major quantitative trends affecting frozen food markets.Understand consumers' consumption and expenditure patterns.Understand the future direction of the market with reliable historical data and full five year forecasting.

Sommaire

TABLE OF CONTENTS

CHAPTER 1 EXECUTIVE SUMMARY 3

Introduction 3

Market context 3

Customer focus 5

Competitive dynamics 6

The future decoded 10

CHAPTER 2 INTRODUCTION 26

What is this report about? 26

Who is the target reader? 26

How to use this report 27

CHAPTER 3 MARKET CONTEXT 28

Introduction 28

Notes on the sizing methodology used 28

The consumer credit market has continued to grow in 2004 29

Key economic drivers contributing to the growth of the consumer credit market have remained strong 30

The performance of individual products in the consumer credit market 34

Consumer credit: outstanding balances 34

Consumer credit: gross advances 38

Gross advances in unsecured personal loans return to growth in 2004 42

Credit cards: another exceptional year of growth 44

Overdrafts cement their position as the third most popular consumer credit product in terms of gross advances 46

Motor finance: difficult market conditions lead to the diminishing share of the consumer credit market 47

Point of sale retail finance – increasing competitive pressure and regulatory attention means the market is being squeezed on both sides 55

Personal overindebtedness is an ever-present issue for the UK consumer credit industry 61

Over the past year the media has been explicitly focusing its attention on this issue 62

However, according to some industry sources, the situation is not as dramatic as it suggested 63

While largely rejecting the accusations of irresponsible lending, providers are nevertheless worried about increasing bad debt 64

Some providers are opting for more stringent credit scoring techniques 66

CHAPTER 4 CUSTOMER FOCUS 68

Introduction 68

MORI Financial Services data 68

Profiling unsecured personal loan customers 69

Unsecured personal loan customers in 2004 69

Examining unsecured personal loan usage in 2004 73

Car purchase remains the most common reason for taking out a loan 73

Customer acquisition: why and how customers choose their unsecured personal loan provider 81

Customers’ choice of a lender – current account providers are still in the driving seat 81

Customers’ choice of a distribution channel 88

Customer retention – levels of satisfaction and attitudes to cross-selling 93

Customers are generally satisfied with their existing loan providers 94

Customers’ attitudes to cross-selling 95

CHAPTER 5 COMPETITIVE DYNAMICS 102

Introduction 102

Large high-street lenders continue to dominate the unsecured personal loan market 102

Big banks have successfully responded to the price challenge from direct providers 102

The end of 2003 saw the big banks cementing their domination of the unsecured personal loan market 105

The situation changed little in 2004 110

Customer acquisition tactics – pricing, advertising and product differentiation 114

Pricing war shows no signs of abating 114

Promotional tactics 126

Cross-selling strategies 137

Despite recent bad publicity, PPI remains relatively popular among consumers 137

CHAPTER 6 THE FUTURE DECODED 144

Introduction 144

Datamonitor’s forecasting model 144

The growth of the consumer credit market will slow down over the next five years under a “neutral” view of the economy 145

Under this scenario, the consumer credit market will grow at 2.8 per cent on average each year over the next five years 148

Credit cards and overdrafts will grow at a faster rate than the total consumer credit market 149

Forecasting the performance of the consumer credit market under the pessimistic scenario 156

Under the pessimistic scenario, the consumer credit market will grow by an average of just 2.7 per cent a year to 2009 159

The majority of individual product lines will struggle under this scenario 159

The performance of the consumer credit market under the optimistic scenario 165

Under the optimistic scenario, the consumer credit market will grow on average by six per cent each year to 2009 168

The majority of individual products are forecast to put in a strong performance under the optimistic scenario. 168

Conclusion 174

CHAPTER 7 APPENDIX 175

Supplementary data tables 175

Data tables relating to Chapter 3 Market Context 175

Data tables relating to Chapter 3 Customer Focus 178

Data tables relating to Chapter 4 Competitive Dynamics 186

Further information 196

Datamonitor’s research methodology 196

MORI Financial Services data 197

Datamonitor’s loans and credit forecasting methodology 197

Definitions of point of sale motor and retail finance products 199

Useful links 203

Datamonitor’s custom research capabilities 206

The retail banking team 207

LIST OF TABLES

Table 1: Gross written premiums for non-mortgage PPI, 1999-2004e 10

Table 1: Total consumer credit gross advances and outstanding balances, 1995-2004e 30

Table 2: Consumer credit outstanding balances by product, 2000-2004e 35

Table 3: Market share of outstanding balances in consumer credit by product, 2000-2004e 37

Table 4: Consumer credit gross advances by product, 2000-2004e 39

Table 5: Market share of consumer credit gross advances, 2000-2004e 41

Table 6: Gross advances for secured and unsecured personal loans, 2000-2004e 43

Table 7: Value of motor finance arranged at the point of sale for private new car purchases by product, 2000-2004e 52

Table 8: Value of motor finance arranged at the point of sale for private used car purchases by product, 2000-2004e 54

Table 9: Retail finance outstanding balances by product, 2000-2004e 56

Table 10: Retail finance gross advances by product, 2000-2004e 58

Table 11: Gross advances in unsecured personal loans by loan usage, 1999-2004e 75

Table 12: Why do customers choose their personal loan providers, 1999-2004 82

Table 13: Gross advances by loan distribution channel, 1999-2004 89

Table 14: The main reasons for not taking out PPI, 1999 & 2004 98

Table 15: The “big four” have cut their rates heavily, 2001 & 2004 119

Table 16: Competitors’ unsecured personal loans pricing strategy, Oct-04 123

Table 17: Competitors’ unsecured personal loan product offerings, Oct-04 125

Table 1: The change in advertising expenditure between 2002 and 2003 126

Table 18: Advertising spend by product for the leading market competitors, 2003 128

Table 19: The percentage of advertising spend by product for the leading competitors, 2003 129

Table 20: The top four providers by their advertising expenditure on personal loans, 2002-2003 130

Table 21: Gross written premiums for non-mortgage PPI, 1999-2004e 138

Table 22: PPI premiums and typical APRs of the leading personal loan providers, Oct-04 140

Table 23: Forecasted performance of the consumer credit market drivers under the ‘neutral’ scenario, 2004e-2009f 148

Table 24: Forecasted gross advances in the consumer credit market (neutral scenario), 2000-2009f 149

Table 25: Forecasted consumer credit gross advances by product (neutral scenario), 2004e-2009f 151

Table 26: Forecasted performance of the consumer credit market drivers under pessimistic scenario, 2004e-2009f 158

Table 27: Forecasted consumer credit gross advances by product under pessimistic scenario, 2004e-2009f 161

Table 28: Forecasted performance of the consumer credit market drivers under optimistic scenario, 2004e-2009f 167

Table 29: The performance of individual product lines within the consumer credit market under optimistic scenario, 2004e-2009f 170

Table 30: Average house price in the UK, 1995-2004e 176

Table 31: Value of motor finance for private new and used cars purchases at the point of sales, 2000-2004e 176

Table 32: Market share of the four main product lines in the new car finance market (gross advances), 2000-2004e 176

Table 33: Market share of the four main product lines in the used car finance market (gross advances), 2000-2004e 177

Table 34: Market share of the three main product lines in the point of sale retail finance (balances outstanding), 2000-2004e 177

Table 35: Market share of the three main product lines in the point of sale retail finance (gross advances), 2000-2004e 177

Table 36: Consumer credit balances outstanding per UK adult, 1995-2004e 178

Table 37: The type of loans held by respondents according to their age and income groups, 2003-2004 178

Table 38: The number of loans held by respondents according to their age and income groups, 2003-2004 179

Table 39: Unsecured personal loan usage expressed as a percentage of the total loan customer base across the leading providers, 1999-2004 180

Table 40: Unsecured personal loan usage across the three main categories by age and income groups of respondents, 2003-2004 181

Table 41: Main reasons for choosing an unsecured personal loan provider across customers’ gender, age and income groups, 2003-2004 182

Table 42: Main loan distribution channels across customers’ age and income groups, 2003-2004 183

Table 43: Financial products arranged online across respondents’ age and income groups (indexed, 100=average population), 2003-2004 184

Table 44: The level of satisfaction with their loan provider across respondents’ age and income groups, 2003-2004 185

Table 45: Customers’ uptake of PPI, by age and income groups, 2004 185

Table 46: The popularity of the three main reasons for not taking out PPI across customers’ age and income groups, 2004 186

Table 47: Estimated market share of the leading providers by balances outstanding, 2003 187

Table 48: Estimated market share of the leading providers by gross advances, 2003 188

Table 49: Estimated market share of the leading providers by balances outstanding, H1 2004 189

Table 50: Estimated market share of the leading providers by gross advances, H1 2004 190

Table 51: Frequency of distribution of APRs for £5,000 loan, Oct-02 – Oct-04 191

Table 52: Unsecured personal loan rates for the leading UK loan providers, Oct-03 – Oct-04 192

Table 53: Standard APRs of the “big four” for unsecured personal loans, Oct 2002 – Oct 2004 193

Table 54: Advertising spending on unsecured personal loans by channel, 2002-2003 193

Table 55: Various promotional strategies employed by the leading unsecured personal loan providers, 2003 194

Table 56: Percentage of internet advertising spend out of the total advertising expenditure, 2003 195

Table 57: Frequency distribution of PPI premiums, October 2003-October 2004 196

Table 58: PPI premiums for the four least competitive and the four cheapest loan providers, October 2004 196

LIST OF FIGURES

Figure 1: Male customers tend to see a competitive interest rate as a more important reason for choosing a loan provider than female customers, 2004 6

Figure 2: The number of providers offering APRs of less than 8 per cent has increased considerably since 2002, 2002-2004 8

Figure 3: Advertising spending on unsecured personal loans by channel, 2002-2003 9

Figure 1: The consumer credit market has been growing strongly over the past ten years, both in terms of new business and balances outstanding, 1995-2004e 29

Figure 2: The UK GDP growth has been strong, reaching 3.2 per cent in 2004, 1995-2004e 31

Figure 3: Unemployment claimant count reached a record low in 2004, 1995-2004e 32

Figure 4: The price of an average house in the UK has increased by 145 per cent over the last ten years, 1995-2004e 33

Figure 5: Unsecured personal loans and credit cards account for the bulk of the total outstanding balances, 2000-2004e 35

Figure 6: Unsecured personal loans and credit cards continue to dominate the market in terms of balances outstanding, 2000-2004e 37

Figure 7: Credit cards is the dominant product category in the market in terms of new business, 2000-2004e 39

Figure 8: Credit cards and unsecured personal loans now account for 81.3 per cent of total new business in the consumer credit market, 2000-2004e 41

Figure 9: The growth of secured personal loans is estimated to have slowed down considerably in 2004, 2000-2004e 43

Figure 10: Outstanding balances in used car finance cemented their dominance of the market in 2004, 2000-2004e 48

Figure 11: Gross advances in new car finance fell sharply in 2004, 2000-2004e 49

Figure 12: Hire purchase has slightly increased its share of new business in the new car finance market over the last five years, 2000-2004e 51

Figure 13: Hire purchase continues to dominate the used car finance market, 2000-2004e 53

Figure 14: In terms of outstanding balances, store cards have increased their share of the retail finance market over the past five years, 2000-2004e 56

Figure 15: Following a promising 2003, store cards experienced a terrible year in 2004 in terms of new business, 2000-2004e 58

Figure 16: The average UK adult now owes £4,004 in unsecured personal debt, 1995-2004e 62

Figure 17: Customers between 25 and 34 years of age and those earning between £25,000 and £39,000 are the group most like to hold a personal loan, 2004 70

Figure 18: Customers in the most affluent income group are the most likely to hold multiple personal loans, 2004 72

Figure 19: Car/motorbike purchase remains the main reason why customers take out a personal loan, 1999 - 2004e 74

Figure 20: Debt consolidation has increased in popularity as a loan usage across all the examined providers, 1999-2004 77

Figure 21: Older and more affluent customers are more likely to use their loans for home improvement, 2004 79

Figure 22: Male customers tend to see competitive interest rate as more important reason for choosing a loan provider than female customers, 2004 83

Figure 23: While being high on the list across all age and income groups, existing bank account is most important for younger customers and those on low income, 2004 85

Figure 24: 57 per cent of all unsecured personal loans were arranged face-to-face in 2004, 1999-2004 88

Figure 25: Customers in the lowest income group are more likely to arrange their loan face-to-face, 2004 90

Figure 26: When it comes to arranging personal loans online, customers aged 25-34 and those in mid-income groups are most likely to do so, 2004 92

Figure 27: The overwhelming majority of the respondents are either very or fairly satisfied with their loan providers, 2004 94

Figure 28: Older and more affluent customers are less likely to take out PPI with their loans, 2004 97

Figure 29: The price is the major obstacle to taking out PPI for less affluent and younger customers, 2004 100

Figure 30: Lloyds TSB heads the market in terms of outstanding balances, though where group market share is concerned, HSBC is the leader, 2003 107

Figure 31: Barclays Bank and Lloyds TSB share the top spot when it comes to the highest share of new unsecured personal loan business, 2003 109

Figure 32: Tesco has put in the best performance in terms of a percentage increase in its balances outstanding between December 2003 and June 2004 111

Figure 33: Lloyds TSB heads the market yet again in terms of gross advances, H1 2004 113

Figure 34: The number of providers offering APRs of less than 8 per cent has increased considerably since 2002, 2002-2004 115

Figure 35: Some of the biggest falls in average APRs have occurred among the least competitive lenders, Oct-03 – Oct-04 116

Figure 36: Three out of the ‘big four’ have implemented price cuts over the last two years, October 2002 – October 2004 118

Figure 37: Two out of three providers with above the average relative market share were also at the most competitive end of the market, June 2004 120

Figure 38: Advertising spending on unsecured personal loans by channel, 2002-2003 132

Figure 39: The majority of the leading unsecured personal loan providers employ a targeted marketing strategy, 2003 134

Figure 40: Leading unsecured personal loans providers spend on average 3.2 per cent of their advertising budget on Internet promotions, 2003 136

Figure 41: There were less lenders offering cheapest PPI premiums in 2004 than in 2003, October 2003- October 2004 139

Figure 42: The least competitive providers also tend to charge higher PPI premiums, October 2004 141

Figure 43: Performance of the key economic drivers will result in a slower growth of the consumer credit market over the next five years 146

Figure 44: The consumer credit market is forecast to grow by 4.7 per cent on average each year to 2009 according to the neutral scenario, 2004e-2009f 149

Figure 45: Credit cards are forecast to continue dominating the consumer credit market according to the neutral scenario, 2004e-2009f 150

Figure 46: Used car finance is forecast to overtake new car finance in terms of gross advances under the neutral scenario, 2004e-2009f 154

Figure 47: Installment credit will face the biggest decreases in gross advances over the next five years according to the neutral scenario, 2004e-2009f 155

Figure 48: Under the pessimistic scenario, below the par performance of the key economic drivers will have a negative impact on the growth of the consumer credit market over the next five years 157

Figure 49: The consumer credit market will grow on average by 2.5 per cent each year to 2009 under the pessimistic scenario, 2004e-2009f 159

Figure 50: While suffering from slower growth, credit cards will continue to be dominant in the consumer credit market under the pessimistic scenario, 2004e-2009f 160

Figure 51: Under pessimistic scenario, used car finance will fare slightly better than new car finance, 2004e-2009f 163

Figure 52: Under the pessimistic scenario, gross advances in point of sale retail finance products are forecast to decline considerably over the next five years, 2004e-2009f 164

Figure 53: Under optimistic scenario the performance of key economic drivers will have a positive impact on the growth of the consumer credit market over the next five years 166

Figure 54: Under optimistic scenario, the consumer credit market is forecast to grow on average by 6 per cent each year to 2009, 2004e-2009f 168

Figure 55: Under the optimistic scenario, the dominance of credit cards as the most popular consumer credit product is forecast to become even more pronounced, 2004e-2009f 169

Figure 56: Under the optimistic forecasting scenario, gross advances in both new and used car finance will register strong growth levels, 2004e-2009f 172

Figure 57: Under the optimistic scenario, gross advances in retail finance products are still forecast to decline, albeit at gentler pace, 2004e-2009f 173

Figure 58: Point of sale product aggregations used within this report 200

Figure 59: Datamonitor’s core consulting capabilities 207