American Express: Talking Tags
Country where program ran: Australia
Program start date: 11/01/11
Program end date: 02/01/12
Advertiser/Client Name: American Express
Product/Service Description: Supplementary Cards are part of the American Express product portfolio and are marketed to existing American Express Charge or Credit cardmembers who don't currently have a Supplementary Card attached to their account.
Category: Financial Products and Services (FPS)
In the years following the global recession (2008-2011), growth in the Australian credit card market slowed to just 1.8% per annum. Driven by an urge to reduce their debt exposure, Aussies' appetite for credit slowed. Further complicating matters was the fact that the market for plastic payment cards was already saturated by a multitude of domestic and international banks; local credit unions (Building Societies) and any number of white-labelled solutions from leading domestic retail brands such as Myers, David Jones and Woolworths. Between them they offered myriad types of cards from no-frills-low-cost, to frequent flyer accumulators and to feature rich premium cards. What's more, with a total of 41million credit and debit cards in circulation by 2011, Australians could choose from, on average, 3 payment cards in their wallets.