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4:25 - 4:55 Carl Rutstein


The Death of Co-brands?


Carl Rutstein
Partner, Americas, AT Kearney


Session Description


  • Co-brands once comprised over 50% of the card spend space and have eroded to now less a 25% share of consumer spend. The forces that have driven the erosion are getting stronger not weaker.  Yet, there are reasons to believe that co-brands will always be a factor in the credit card marketplace.  This session will answer what is driving the overall erosion of co-brands and the implications for the major banks, the major co-brands, and what forces might change this trajectory.
  • Three major forces to be explored in this session are the growth of bank-branded cards, the decreasing attractiveness of co-brands given rising costs and the risk of interchange regulation/open banking which could gut the underlying co-brand construct.
  • Finally, we’ll reserve a portion of the time to engage in a lively Q&A session where no topic is off-the-table (e.g., implications of retailer consolidations or bankruptcies, long-term consequences of network interchange deals to secure co-brands, lack of de novo co-brands, implications of mobile and in-app payments)



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