Aeon looks to attract Generation-Y clients
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Targets 400,000 cards this year
Aeon Thana Sinsap (Thailand) will focus more on so-called Generation Y customers by offering entertainment and lifestyle privileges to broaden its cardholder base.
Members of Generation Y are generally described as those born between the early 1980s and the early 2000s.
Even though Gen Y consumers are not heavy spenders, they could grow into loyal customers, Yasuhiko Kondo, managing director of the Japanese consumer lender, said yesterday.
Gen Y holds 25 per cent of Aeon’s 2.15 million credit cards and uses them to spend on average Bt3,000-Bt5,000 a month. The company aims to increase Gen Y to 30 per cent of cardholders this year.
Besides entertainment and lifestyle privileges and promotions, this segment could also help expand the customer base via social media activities.
Yesterday, Aeon joined with Major Cineplex Group and McThai to launch a marketing campaign for Aeon cardholders.
Gen Y customers are issued with classic credit cards, but the company hopes to upgrade them to gold in the future as they climb the career ladder.
Aeon classic cardholders must show monthly income of Bt15,000. They make up 85 per cent of customers, while 15 per cent are Aeon gold cardholders with a monthly income of at least Bt20,000.
The company targets 400,000 new cards this year, of which 200,000 were already issued in the first half.
Spending via Aeon credit cards is expected to rise by more than 10 per cent this year from Bt20 billion last year.
The company is ready to expand in Cambodia once the government there allows non-banks do this business. It runs a microfinance business in Cambodia through its subsidiary, Aeon Microfinance (Cambodia) Co, which provides personal and hire purchase loans.
