Bureau de change. Exchanging one currency for another. As commodity markets go, this is as pure as they come. After all, the ‘product’ itself, money, is literally identical between suppliers. Unsurprising then that ‘zero commission, great rates’ is the deafening cry from the numerous competing providers seeking to attract custom from travellers.
The challenge of somehow transcending this purely price-driven marketing strategy was one which Moneycorp, an operator of bureau de change, had been considering for some time.
Can we meaningfully differentiate in a largely commoditised environment? Or are we better to lead a ‘race to the bottom’ and compete on price as is the traditional approach?
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