Consumers select «premium» items as a means of validating their status and feeling part of a select community. We can see examples of this segment in products such as coffee, whiskey or smartphones. But now they are looking for the next level of product, as “premium” brands have become the norm, driving a move towards “super-premium” brands.
A continued increase in demand for these types of products is expected, as it is anticipated that a high percentage of the world’s population will enjoy an increasing level of disposable income. This growth will change the shape of the economy and drive social transformation: the middle and upper middle class, which represent more than a third of the global economy: this trend has been taking place for a few years now.
Rapid expansion of metal cards: This trend has recently moved to credit cards, where issuing banks offer a fancy metal card to their select customers as a form of differentiation. Financial institutions began offering metal credit cards or hybrid versions of them as they saw the impact of prestigious products in a market that promises enormous potential for expansion. Metal cards have gained notoriety with demand, sometimes outstripping existing stocks. Many issuers have launched metal card programs starting in the United States, but now there is strong potential for growth internationally, including Latin America.
Metal cards, issued by a trusted brand, convey attributes generally associated with prestigious products, such as high quality, exclusive design, and above-average style. Today, metallic credit cards are still in the early stages of adoption, but growing by leaps and bounds. According to various surveys, more than 60% of global consumers were not aware of metallic credit cards. This lack of information represents an incredible market development opportunity.