Banks should bank on affordable luxury to instil confidence

Two weeks ago you posed the question, ‘What can the new and devolved banking brands do to instil confidence in their customers?’ (Voxpop, DW 12 November).

High street banks need genuine high street attitudes if they hope to attract consumer buy-in. They need to look at successes like the boom in affordable luxuries, and work out how they can draw a line from lipsticks and chocolate bars to mortgages, pensions and overdraft facilities.

It might sound weird, but consumers are flocking to products that are easy to buy, which express the soft, less tangible parts of brand offers like ‘belief’ and ‘values’ – and which also give people that feelgood factor.
Nigel Davies, Managing director, 300 Million, by e-mail