How German Credit Buyers Use Different Channels

July 11th, 2008

Alexander Hesse

Vanessa Niemeyer, Ph.D.

With contributors:

Benjamin Ensor , Lauriane Camus

Summary

Although more and more financial services firms in Germany let customers apply for mortgages, personal loans, and credit cards over the Internet, most Germans stick to in-person channels like branches and sales representatives when it comes to researching and buying mortgages and consumer loans. The reasons for consumers' channel choices differ between credit products. While mortgage loan buyers turn out to be price-sensitive, credit card buyers just want a quick buying process. eBusiness and channel strategy executives in financial services firms should use this insight into consumer behavior to drive credit sales across multiple channels.

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