电信战中的低成本竞争对手如何重新定义行业

QUALIFICATIONS, ASSUMPTIONS, AND LIMITING CONDITIONSThis report is for the exclusive use of the Oliver Wyman client named herein. This report is not intended for general circulation or publication, nor is itto be reproduced, quoted, or distributed for any purpose without the prior written permission of Oliver Wyman. There are no third-party beneficiarieswith respect to this report, and Oliver Wyman does not accept any liability to any third party.Information furnished by others, upon which all or portions of this report are based, is believed to be reliable but has not been independently verified,unless otherwise expressly indicated. Public information and industry and statistical data are from sources we deem to be reliable; however, we makeno representation as to the accuracy or completeness of such information. The findings contained in this report may contain predictions based oncurrent data and historical trends. Any such predictions are subject to inherent risks and uncertainties. Oliver Wyman accepts no responsibility foractual results or future events.The opinions expressed in this report are valid only for the purpose stated herein and as of the date of this report. No obligation is assumed to revisethis report to reflect changes, events, or conditions, which occur subsequent to the date hereof.All decisions in connection with the implementation or use of advice or recommendations contained in this report are the sole responsibility of theclient. This report does not represent investment advice nor does it provide an opinion regarding the fairness of any transaction to any and all parties.In addition, this report does not represent legal, medical, accounting, safety, or other specialized advice. For any such advice, Oliver Wymanrecommends seeking and obtaining advice from a qualified professional. © Oliver WymanSAMPLEDETAILSMaleFemaleOther/donot wantto disclose18-2425-3435-4445-5455-6465+© Oliver WymanAge distribution (%)Sex distribution mobile•Trading accelerates across Europe driven by price sensitivity: 27% of EU consumers declare they are likelyto change operator in the next two years, +5 p.p. YoY, driven by Italy (27%, +9p.p. vs. ’23) and UK (31%,+6p.p. vs. ’23)•Traditional telcos lose almost half of their customers to low cost players: but trading dynamics divergeacross markets: shift to low cost accelerates in Spain and Italy; while in Germany and UK, traditionaloperators improve their resiliencefixed•Intentional churn increases too, in most markets: 25% of EU consumers are likely to change operator inthe next two years, ca. +4 p.p. YoY-Network speed and price as key drivers•FTTH availability and consumer appetite expands; with a notable wake-up in Germany (+19 p.p. YoY)•Fixed-mobile bundling push stagnates- not driving trading dynamics in UK and Germany and saturating inSpain and France - Only in Italy FMC is being actively pushed•Expectations of telco value propositions focused on connectivity and entertainment; questioning theirright to play to consolidate non-telco household servicesBrand power•Traditional telcos still retain consistently higher levels of brand power (awareness and perception) acrossmarkets; only in UK and Italy we see brand power converge•However, in every market we findlocal champions(low cost or local challengers) with brand perception ashigh as well established traditional brands•Non clients underscore low cost, butlow cost customers declare as strong (sometimes stronger)attachment to their brandsvs. customers with traditional brands 4 Brand analysis•Low cost players account for lower levels of brand awareness and perception•On a player by player basis,a low cost brand is among the top 3 brandsin all the countries•Thegap between traditional and low cost is reducedwhen comparing market vs clients’ perception,obtaining also significant higher marks•Non clientsgenerallyunderscore low cost players– especially in France and Spain•However,low cost customershave astrong brand perception of their operator– particularly in Germany,France and Italy•FMCclients generally have a stronger brand perceptionexcept in Spain, where FMC is commoditized, andin UK, where FMC is moving backwards 5 CONSUMER TRENDSIN MOBILE CONNECTIVITY © Oliver Wyman62%56%14%18%6%5%10%13%8%8%55%47%25%32%9%9%9%10%2%2%2023202420232024202320242023 20242023 202420232024How likely are you toswitch mobile phoneservice provider?% of respondents, by countryI have no plansto changeUnlikely to change56%47%22%26%4%10%12%8%12%3%…within24months… butdon’t knowwhen…within6months…within12monthsLikely to change49%45%29%28%12%11%7%14%4%2%55%39%27%34%9%12%6%13%3%2%59%48%16%21%5%5%10%13%10%13%26%24%Likely to change2722%31%25%21%20%27%23%27%18%EuropeAverageUKSpainItalyFranceGermanyTRADING ACCELERATES ACROSS EUROPE: 27% OF EU CONSUMERS DECLARE THEY ARE LIKELY TOCHANGE OPERATOR IN THE NEXT TWO YEARS, +5 P.P. YOY, DRIVEN BY IT AND UKSource: Oliver Wyman Telco Consumer Survey 2024 and 2023 © Oliver WymanWhich reasonsinfluen