Private Label Credit Cards in the U.S., 10th Edition

CHAPTER 1: EXECUTIVE SUMMARY

REPORT SCOPE

REPORT SUMMARY

MARKET SIZE AND FORECAST

Market size

Market forecast

TRENDS AND OPPORTUNITIES

Apps to the rescue

Private label credit cards in context: loyalty programs and apps

PRIVATE LABEL BANK ISSUERS

Alliance Data Systems

Capital One

Citi Retail Services

Synchrony Financial Services

TD Bank

Wells Fargo

PRIVATE LABEL CREDIT CARD USAGE TRENDS

Credit card usage trends over time

Types of private label credit cards used

PRIVATE LABEL CREDIT CARD APPLICATION & USAGE MOTIVATORS

Private label credit card loyalty and engagement attitudes

Private label card application & usage frequency influencers

Private label card usage frequency influencers

CHAPTER 2: MARKET SIZE AND FORECAST

LOANS OUTSTANDING AND PURCHASE VALUE BY ISSUER

Five issuers dominate the market

Table 2-1: Private-Label Credit Cards: Loans Outstanding, by Issuer, 2015-2016

Table 2-2: Private-Label Credit Cards: Purchase Value, by Issuer, 2015-2016

PRIVATE LABEL CARDS MARKET FORECAST

CHAPTER 3: TRENDS & OPPORTUNITIES

APPS TO THE RESCUE

Retailer-specific mobile apps an important means of consumer engagement

Table 3-1: Retailer-Specific Mobile App Usage: Smartphone Users, by Demographic, 2017

But should mobile app engagement among private label card users be higher?

Table 3-2: Retailer-Specific Mobile App Usage: Private Label Credit Card, Have vs. Used in Past 30 Days, by Demographic, 2017

Retail app features: usage and interest

Table 3-3: Usage and Interest in Retailer-Specific Mobile Apps, by Feature, 2017

Table 3-4: Private Label Credit Card User in Past 30 Days: Usage and Interest in Retailer-Specific Mobile Apps, by Feature, 2017

PRIVATE LABEL CREDIT CARDS IN CONTEXT: LOYALTY PROGRAMS AND APPS

JCPenney

Kohl’s

Macy’s

Table 3-5: Macy’s Credit Card: Rewards Tiers and Benefits, 2017

Target

CHAPTER 4: PRIVATE LABEL BANK ISSUERS

SELF-MANAGED PROGRAMS A THING OF THE PAST

ALLIANCE DATA SYSTEMS

Competitive positioning

Card Services

Epsilon

LoyaltyOne

Private label credit card partners

Key private label credit card retailer accounts

Table 4-1: L Brands and Ascena Retail Group Private-Label Credit Card Sales and Sales Share, 2016

Table 4-2: Signet Jewelers: Sterling and Zales Divisions, Private-Label Credit Sales and Share, 2015-2017

Table 4-3: Signet Jewelers: Sterling Jewelers Division, Private-Label Credit Card Metrics, 2015-2017

Table 4-4: Bon-Ton Stores, Inc. Private-Label Credit Card Sales and Sales Share, 2015-2016

Table 4-5: HSN Private-Label Credit Card Sales and Sales Share, 2015-2016

Table 4-6: Stage Stores Private-Label Credit Card Sales and Sales Share, 2016-2017

Table 4-7: Pier 1 Imports Private-Label Credit Card Sales and Sales Share, 2016-2017

Table 4-8: J. Crew Private-Label Credit Card Sales and Sales Share, 2016-2017

Performance analysis

Table 4-9: Alliance Data Systems, Credit Card Metrics, 2012-2016

Table 4-10: Alliance Data Systems, Credit Card Metrics, Annual Percentage Change, 2012-2016

Table 4-11: Alliance Data Systems, Revenue, Loan Receivables and Purchase Value Per Active Account, 2012-2016

CAPITAL ONE

Table 4-12: Capital One Private Label Credit Card Loans and Purchase Value, 2014-2016

Program partners

Table 4-13: Capital One Financial: Private Label and Co-Brand Credit Card Program Partners, Retail Segment and Card Type, 2017

Kohl’s

Table 4-14: Capital One Private Label Credit Card Loans and Purchase Value, Kohl’s vs. Non-Kohl’s, 2014-2016

Neiman Marcus

Hudson's Bay Company

CITI RETAIL SERVICES

Key retailers

Table 4-15: Citi Retail Services Top Six Retail Partners, by Domestic Sales, 2014-2016

Performance analysis

Table 4-16: Citi Retail Services: Purchase Value, Loan Balances and Open Accounts, 2012-2016

Table 4-17: Citi Retail Services Private-Label Credit Cards: Purchase Value and Loans Outstanding, 2015-2016

SYNCHRONY FINANCIAL SERVICES

Loan and interest and fee growth over time

Table 4-18: Synchrony Financial Loan Receivables, by Business Segment, 2014-2016

Table 4-19: Synchrony Financial Credit Card Loan Receivables, by Business Segment, 2014-2016

Table 4-20: Synchrony Financial Interest and Fees on Loans, by Business Segment, 2012-2016

Retail Card

Table 4-21: Synchrony Financial Retail Card Segment: Loans, Purchase Value and Active Accounts, 2012-2016

Table 4-22: Synchrony Financial Retail Card Partners, by Segment & Start, Renewal and Contract Expiration Date, 2017

Growth strategies

Key Retail Card private label credit card programs

Payment Solutions

Table 4-23: Synchrony Financial Loans, Purchase Value and Active Accounts, Payment Solutions Segment, 2012-2016

Table 4-24: Synchrony Financial: Payment Solutions Interest and Fees on Loans, by Partner Retail Segment, 2016

Table 4-25: Synchrony Financial: Payment Solutions Segment, Top 10 Partners, Sales, 2016

CareCredit

Table 4-26: Synchrony Financial Loans, Purchase Value and Active Accounts, CareCredit Segment, 2012-2016

Private label credit card performance analysis

Table 4-27: Synchrony Financial Private-Label Credit Cards: Purchase Value and Loans Outstanding, by Business Segment, 2015-2016

TD BANK

Table 4-28: TD Bank Private Label Credit Cards, Loan Balances and Purchase Value, 2015-2016

Nordstrom

Table 4-29: Nordstrom Private Label and Co-Brand Credit Cards, Loans Outstanding and Payment Value, 2012-2016

Target

Table 4-30: Target Private Label and Co-Brand Credit Cards, Loans Outstanding and Payment Value, 2016

WELLS FARGO

Dillard’s

Home products marketers and small chains

Turnkey programs

Purchase value and loans outstanding

Table 4-31: Wells Fargo Private-Label Credit Cards: Purchase Value and Loans Outstanding, 2015-2016

CHAPTER 5: PRIVATE LABEL CREDIT CARD USAGE TRENDS

CREDIT CARD USAGE TRENDS OVER TIME

Table 5-1: Credit Card Usage: Any, General-Purpose and Department Store Credit Cards, 2011-2017

Active card usage trends

Table 5-2: Credit Card Usage In Pact 30 Days: Any, General-Purpose and Department Store Credit Cards, 2011-2017

General-purpose and store credit card usage & usage in past 30 days

Table 5-3: General-Purpose & Store Card Usage, Active Usage & Engagement Rate, 2017

Card usage frequency trends

Table 5-4: Credit Card Usage Frequency Share, General-Purpose Cards, by Brand; and Department Store Cards, 2011-2017

Table 5-5: Credit Card Used Most Ratio: General-Purpose Cards, by Brand; and Store Cards, by Type, 2017

Demographic analysis

Table 5-6: Credit Card Indexed Use in Past 30 Days, by Card Brand/Type and Gender, 2017

Table 5-7: Credit Card Indexed Use in Past 30 Days, by Card Brand/Type and HH Income, 2017

Table 5-8: Credit Card Used Most: by Brand/Type and by Demographic, 2017

CHAPTER 6: STORE CARD USERS

Types of cards used

Table 6-1: Private Label Credit Cards Used & Used in Past 30 Days, by Retailer Type, 2017

Demographic analysis

Table 6-2: Private Label Credit Used in Last 30 Days: Usage Share by Card Type and Gender, 2017

Table 6-3: Private Label Credit Used in Last 30 Days: Usage Share by Card Type and Age, 2017

Table 6-4: Private Label Credit Used in Last 30 Days: Usage Share by Card Type and HH Income, 2017

Monthly spending

Table 6-5: Monthly Spending on Private Label Card Used Most, 2017

Portion of balance paid

Table 6-6: Portion of Balance Paid on Private Label Card Used Most, 2017

CHAPTER 7: PRIVATE LABEL CREDIT CARD APPLICATION & USAGE MOTIVATORS

LOYALTY BAROMETER

Table 7-1: Consumer Loyalty Attitudes about Private Label Card Used Most, 2017

PRIVATE LABEL CARD APPLICATION & USAGE FREQUENCY INFLUENCERS

Overview

Private label card application influencers

Table 7-2: Private Label Credit Card Application Influencers, 2017

Application influencers: savings, discounts and rewards

Table 7-3: Private Label Credit Card Application Influencers: Savings, Discounts and Rewards, Private Label Credit Card Holders vs. Non-Holders, 2017

Table 7-4: Private Label Credit Card Application Influencers: Savings, Discounts and Rewards, by Gender, 2017

Application influencers: perks, interest rates, mobile and social networking

Table 7-5: Private Label Credit Card Application Influencers: Perks, Rates, And Networking, Private Label Credit Card Holders vs. Non-Holders, 2017

Table 7-6: Private Label Credit Card Application Influencers: Perks, Rates and Networking, by Gender, 2017

PRIVATE LABEL CARD USAGE FREQUENCY INFLUENCERS

Table 7-7: Private Label Credit Card Usage Frequency Influencers, 2017

Usage frequency influencers: savings, discounts and rewards

Table 7-8: Private Label Credit Card Usage Frequency Influencers: Savings, Discounts and Rewards, by HH Income, 2017

Table 7-9: Private Label Credit Card Usage Frequency Influencers: Savings, Discounts and Rewards, by Gender, 2017

Usage frequency influencers: perks, interest rates, mobile and social networking

Table 7-10: Private Label Credit Card Usage Frequency Influencers: Perks, Rates and Networking, by HH Income, 2017

Table 7-11: Private Label Credit Card Usage Frequency Influencers: Perks, Rates and Networking, by Gender, 2017

APPENDIX

BACKGROUND

Major retailer benefits: usable data and customer loyalty

Major cardholder benefit: buying power

METHODOLOGY

Consumer survey methodology

Market size and forecast methodology

TABLE INDEXES

TERMS AND DEFINITIONS

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