Each lounge is unique, because the design and amenities fit the building. In Wales, the lounge is located in a former pizza restaurant. Naturally, Virgin Money is serving free pizza to customers.
If you're banking with Metro Bank UK, you don't walk into a branch, you walk into a store. The company keeps its stores open late and on weekends to allow customers plenty of time to have coins counted or bring dogs in for free water or even open a new account.
And despite the growing popularity of digital banking, branches still attract customers. Metro's data show that 55% of its customers go to its stores. Of course, its customers also use mobile banking and online services.
Yet looking at the UK bank industry overall, more than 700 bank branches around the UK were closed in 2017--the largest number of closures ever recorded in one year. Are banks going to carefully tailor branches for each community rather than have one-size-fits-all banking? Or will they shrink the size or number of branches to reduce costs while offering selected in-person services? Let's see what happens in 2018.
This post updates the Metro Bank example in Chapter 11 of Essential Guide to Marketing Planning.
