While traditionally associated with elite status, metal cards have a sizable fan-base. In a recent consumer survey, 83% of consumers expressed the desire to own a metal card, and over half were willing to pay for the privilege: between 57% and 78%, depending on the geography.
Personalization and exclusivity have become major components of consumer preferences. In keeping with these trends, metal cards are now statements of identity and can appeal to many, boosting their value as a status symbol.
The metal attraction reflects deeper expectations about what the card provides. The benefits that consumers attach to these cards are why understanding the personas of those ready to adopt them is so important. When their needs get met, metal cardholders comfortably spend 17% more than plastic cardholders. Giving them custom options can further strengthen card usage and loyalty.
But who are these card users and aspirants?
What motivates them, and how do they relate to the world?
To understand this, IDEMIA Secure Transactions (IST) did an extensive analysis on consumer motivations, personalities and behaviors. This white paper summarizes our main findings in a breakdown of six personas, swinging from young aspirants to seasoned executives; all who love metal cards for different reasons, and not always the ones you expect.
Understanding who they are, and how to address them, is key for card issuers to provide the most relevant metal card offerings to their customers.
