The Brazilian banking sector is highly consolidated, with a handful of large banks controlling a significant market share. Product ownership rates are high, particularly for current and savings accounts. Both younger and older age groups use branches often. Internet penetration in Brazil is low, and hence providers need to maintain a multi-channel approach or focus on specific geographical areas in the country. Consumers are generally conservative in their choice of provider, with a bias towards those with which they have an existing relationship. With new regulations being introduced by the Central Bank of Brazil, the market has opened up to new entrants to encourage greater competition within the sector.
- The top three banks hold 70% of the market. Two of the top three providers (Banco do Brasil and Itaś) have both recorded notable increases over the last 12 months, while Caixa Economica Federal saw its market share decline over the same period. New entrants such as NuBank and Banco Original have all launched their current account propositions. Competition has boosted customer mobility and made it easier for new entrants to acquire customers.
- Branch and online dominate channel usage in the Brazil. The next step for banks is to upgrade their digital channels with chatbots and other functionality to help with query resolution. Overall, online is the preferred channel and satisfaction with mobile is
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BANK INFRASTRUCTURE & REGULATION
Brazil Retail Report
BMI View: Brazil is in the midst of the largest economic and political crisis
in more than a decade. This is having an adverse impact on household incomes and
consumer confidence. While a gradual recovery is expected to start in 2017, a
weak labour market, elevated inflation and reduced access to consumer credit
will continue weighing o
Clothing and Footwear Retailing in Brazil: Market Snapshot to 2017
"Clothing and Footwear Retailing in Brazil: Market Snapshot
to 2017" contains detailed historic and forecast retail sales values of Brazil
Clothing and Footwear Retailing.
The report provides an opinion to help companies in the retail industry better
understand the changes in their environment, seize opportunities and formulate
crucial business st
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