Greenlight Research - Grocery retailers having impact on traditional high street providers for loans, online

Greenlight's latest quarterly report ' Retail Banking Report - Issue 11', reveals that the majority of UK online consumer searches for retail banking-related products in January pertained to loans, with grocery retailers taking two of the top three spots in terms of visibility for loan-related products.

The report profiles online consumer search behaviour in the financial sector. It reveals the number of searches conducted for retail banking products (bank accounts, credit and debit cards, mortgages and loans), the most popular search terms used, and the most visible brands and review sites to those searches. This it bases on analysis of online search-related data sourced from Hydra's One Platform, a leading provider of SaaS tools for digital marketers.

Search terms pertaining to loans and mortgages most queried

Greenlight's report reveals that in January, UK consumers made a total of 2.5 million online searches for retail banking-related products.

Loans accounted for the majority (37%) of searches (934,234) with the keywords 'Loans', 'Payday loans' and 'Student loans' being the top three terms consumers used to conduct their searches.

Mortgages, accounting for 30% of overall retail banking-related queries, followed.  Interestingly, the term 'Mortgage calculator' was the most popular search term across the board.

Bank accounts and credit and debit cards-related queries accounted for a 21% and 12% share of overall search, respectively.

Table 1: Loans - Top 10 keywords

Keyword

Number of searches

% share

Loans

201,000

22%

Payday loans

165,000

18%

Student loans

49,500

5%

Loan calculator

40,500

4%

Loans for people with bad credit

40,500

4%

Personal  loans

40,500

4%

Loan

22,000

2%

Payday loan

22,000

2%

Student loan

22,200

2%

Cheap loans

18,100

2%

Source: Google AdWords

Leading grocery retailers make up two of the top three most visible sites for loans

Whilst MoneySupermarket, MoneySavingExpert and Halifax were the most visible websites for retail banking related-searches overall in natural search , for loans specifically, the sites that dominated were MoneySupermarket followed by Tesco Bank then Sainsbury's Bank.

 Table 2: Top 10 - Most visible websites for loans keywords

No.

domain

Reached Volume

Missed Volume

% reached

1

moneysupermarket.com

580,721

353,513

62%

2

tescobank.com

293,316

640,918

31%

3

sainsburysbank.co.uk

285,038

649,196

31%

4

comparethemarket.com

278,582

655,652

30%

5

moneysavingexpert.com

277,506

656,728

30%

6

barclays.co.uk

216,187

718,047

23%

7

quickquid.co.uk

214,113

720,121

23%

8

paydayloans.org.uk

188,640

745,594

20%

9

santander.co.uk

169,423

764,811

18%

10

dcloans.co.uk

168,480

765,754

18%

Source: Greenlight (Powered by Hydra)

In a recently published report, '2012: Trends to Watch in UK Retail Banking', market analysis firm Datamonitor says providers will have to work hard to attract deposits in a low interest rate environment.  With consumer borrowing staying subdued, Datamonitor expects lending to come under further pressure. In addition, the analyst house predicts non-traditional providers will make greater inroads into lending in 2012.

Against this backdrop, players should look to implement strategies that help to maximise their presence online and make them immediately visible to consumers researching or looking for financial services and offers via the internet, as opposed to competitors stealing share of gaze!

Filter posts

Powered by

Back to Top

© Copyright 2014 Greenlight. All Rights Reserved Terms & Conditions