SINGAPORE: 'Super consumers' – just 10% of all consumers – spearhead profitability in any category, driving an estimated 30% of sales and more than 50% of profits, according to an analysis by Nielsen across 140 categories globally.

The finding was revealed at the Qual360 event in Singapore by Michael Zdraski, head of retail and co-brand cards at Singapore's OCBC Bank.

He explained how he had used the insight to develop a new rewards-oriented credit card targeted at this market. (For more details read Warc's exclusive report: How Singapore's OCBC Bank is winning over 'super-shoppers' with credit card rewards.)

Singapore, one of the world's wealthiest countries per capita, is saturated with financial products, with the average credit card user in Singapore having six different cards. In comparison, credit card penetration in neighbouring South East Asian countries is less than 5%.

Discerning Singaporean consumers have so much choice in financial products that capturing their attention can be difficult: "The customer had to be at the heart of the proposition if we were to stand a chance," said Zdraski.

Research revealed that Singapore's super-consumers were looking for not only maximised rewards, but also peace of mind: like shoppers in many countries in Asia, they worry about the unreliability of e-commerce deliveries. In response to this discovery, OCBC's new credit card product offered e-commerce protection against non-delivery or defective goods to build trust in online shopping.

"We did some more analysis and found that if you do well with the super-consumers, you do well in the market," added Anshul Dhar, executive director of qualitative growth and emerging markets at Nielsen, who worked on the OCBC Bank project.

"Your brand share among the super-consumers and your brand share among the market are almost perfectly correlated," he noted.

"If you don't engage with the super-consumers, there is a high chance you may not engage the normal consumer."

Data sourced from Warc