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United States Private Label Credit Cards Market Report 2021-2022: Emphasis on Retail Credit Card Program Features and Benefits Analysis, Retail Card Strategies, and Growth Trends -
[June 09, 2021]

United States Private Label Credit Cards Market Report 2021-2022: Emphasis on Retail Credit Card Program Features and Benefits Analysis, Retail Card Strategies, and Growth Trends -

The "Private Label Credit Cards in the U.S., 12th Edition" report has been added to's offering.

This report covers the U.S. market for private-label credit cards (PLCCs), including store cards, with an emphasis on retail credit card program features and benefits analysis, retail card strategies, and growth trends.

More specifically, the report:

  • Analyzes the impact of COVID-19 on the retail sector and the private-label credit card market.
  • Provides an analysis of large retailer strategies to innovate/stay above water during COVID-19's window of unprecedented stress on the retail economy.
  • Outlines the going-forward strategies of top private-label credit card issuers. Those issuers are Alliance Data Systems, Citi Retail Services, Capital One (News - Alert), Synchrony Financial Services, TD Bank, and Wells Fargo.
  • Conducts an in-depth analysis of seven private-label credit card programs from within the context of the retailer's loyalty program and its results. Program analysis of American Eagle, Forever 21, Kohl's, Macy's, Target (News - Alert), and Victoria's Secret are included. Each profile includes survey-based analysis of customer demographics.
  • Assesses consumer use of private-label credit cards segmented by retailer type, including the type of card they use most frequently, and which features and benefits would entice private-label credit cardholders to use this purchasing method more frequently.
  • Loans outstanding and purchase value estimates for the U.S. private-label credit card (PLCC) market are provided for 2019 and 2020, and loans outstanding and purchase value forecasts are provided for 2021-2022.

Key Topics Covered:

Executive Summary

  • Scope of Report
  • Report Methodology
  • Context for Market Performance
  • Market Size and Growth
  • Top Private-Label Credit Card Issuers
  • Alliance Data (News - Alert) Systems
  • Capital One
  • Citi Retail Services
  • Synchrony Financial
  • TD Bank
  • Wells Fargo (News - Alert)
  • Private Label Credit Card Consumer Trends
  • 55% Have Private-Label Credit Cards
  • Store Card Usage and Demographics
  • Market Size and Growth
  • Market Background
  • First Credit Cards Were Retailer-Specific
  • Retailers Sell Credit Card Portfolios to Financial Services Firs
  • Major Retailer Benefits: Data and Loyalty
  • Major Cardholder Benefit: Buying Power
  • Market Performance
  • Context for Market Performance

Market Size and Growth

  • Drivers of Retail and Private-Label Credit Card Performance
  • The COVID Economy
  • Store Sales Tanked, E-Commerce Surged
  • Amazon Stumbles Gave Big Box Retailers an Opportunity
  • Troubled Retailers Filed for Bankruptcy
  • Some Big Box Retailers Reimagined Their Businesses After the Great Recession
  • In 4Q 2020, Issuers Pulled in Available Credit
  • Broad Retail Adoption of BNPL Accelerated (News - Alert) by Pandemic
  • Retailers' Loyalty Programs Increasingly Separate from PLCC Enrollment

Profiles of Top Private-Label Credit Card Issuers

  • The Top Issuers

Alliance Data Systems

  • Overview
  • Alliance Data Stresses Corporation-wide Changes to Address Market Realities
  • ADS in POS Installment Loan Business
  • Business Strategy
  • Operating Segments
  • Finance Charges Drive Revenue
  • Competitive Positioning
  • An Evolving Client Base
  • Key Positioning: Primary Marketing, Loyalty, and Payment Services Provider
  • Other Competitive Strategies
  • Private-Label Credit Card Partners
  • Williams-Sonoma
  • Other Partners

Capital One

  • Program Partners
  • Walmart
  • Kohl's
  • Neiman Marcus
  • Hudson's Bay Company

Citi Retail Services

  • Activity and Acquisitions
  • Top Four Retail Partners
  • Other Partners

Synchrony Financial

  • Retail Card Sales Platforms
  • Payment Solutions
  • CareCredit
  • Corporate Strategies for 2021 and Beyond
  • Loan, Interest, and Fee Growth
  • Growth Strategies

TD Bank

  • Nordstrom
  • Target
  • Other Partners

Wells Fargo

  • Six Turnkey PLCC Financing Solutions
  • Move to Sell, Decision to Retain Private-Label Card Segment

Profiles of Selected Private-Label Credit Card and Loyalty Programs

American Eagle

  • Aerie Brand
  • Key Business Priorities & Strategy
  • Loyalty Is Real Reward(ing)
  • The App for Real Rewards

Forever 21

  • Afterpay's BNPL Service at In-Store Checkout


  • Relying on Loyal Customers to Survive the Pandemic Year
  • Driving Sales through Targeted and Personalized Communications
  • The Kohl's App: Familiarity Breeds Familiarity. And Sales


  • Kitchen Sink Marketing Strategy
  • Customer Base
  • Media Network
  • Current Guidance
  • Rewards Program
  • Top Tier Customers Represent 30% of the Chain's Revenues
  • Retooled Rewards Program Includes Non-Card Using Shoppers
  • Macy Invests in Klarna, the Largest BNPL Provider
  • Macy's App Is Both Simple and Richly Featured
  • The Marketing Angle
  • After Closing Stores, Macy's Tries New Concepts to Backfill Markets

Neiman Marcus



  • Investments in Human Capital and Distribution Made Target Pandemic Read
  • Target Circle Brings Non-RedCard Shoppers Into Marketing Engine

Victoria's Secret

  • Overview
  • From 2015 to Early 2020, Victoria's Secret Market Share Fell by Half
  • Chain Misses the Mark on Female Sexy, Comfort and Fit
  • Alliance Data Introduces Contactless Store Cards for Victoria's Secret and PINK
  • VS Uses Rapidly Escalating Rewards to Pursue Share of Wallet
  • The Marketing Angle: Reconciling VS and PINK

Private Label Card Usage Trends

  • Private Label Credit Cards in Context
  • 72% Have Credit Cards
  • 55% Have Private-Label Credit Cards
  • Private-Label Card Psychographics
  • Store Card Usage
  • Store Card User Demographics
  • Historically Trended Customer Base for Selected Private-Label Store Cards


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