PROSPECTS AND OPPORTUNITIES
Uncertainty in the macroeconomic outlook could put Mexicans’ payment capacity at risk
Given that the main driver of growth in consumer credit in Mexico is the need to cover basic household necessities and stretch incomes to meet additional expenses, it can be expected that in the event of a loss of stability in the country’s economy, as a result of the change of government and other political factors, consumer credit is likely to benefit from a greater number of Mexicans adopting this alternative; however, the risk of growth in the percentage of debtors could also increase. It will be the responsibility of the different players, both traditional and digital, to continue promoting inclusion by making services available to the Mexican population that help them face any adversity, whilst minimising the risk of default in their operations.
Collaboration between traditional banks and fintech will be a key factor for the growth of consumer credit in the coming years
The banking industry has evolved towards offering a more agile and accessible environment for users, driven mainly by the rapid emergence of neobanks and digital banks, which by promoting financial inclusion have reduced barriers, and expanded the population’s access to financial services. Although this trend is expected to continue in the forecast period, it can be expected that traditional banking will react positively towards modernisation, and in this sense, collaborative alliances between both segments will be key.
AI expected to increase operational efficiency and top-line loyalty programmes
As more companies in financial services adopt technologies such as artificial intelligence and blockchain in a digital transformation environment, an evolution in the offering of products and services can be expected, which will become more tailored to the needs of customers. Led by a young population, digitalisation is the future.
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Overview:
Understand the latest market trends and future growth opportunities for the Consumer Credit industry in Mexico with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Consumer Credit industry in Mexico, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
The Consumer Credit in Mexico report includes:
- Analysis of key supply-side and demand trends
- Detailed segmentation of international and local products
- Historic volume and value sizes, company and brand market shares
- Five year forecasts of market trends and market growth
- Robust and transparent research methodology, conducted in-country
This report answers:
- What is the market size of Consumer Credit in Mexico?
- What are the major trends key to understanding Consumer Credit in Mexico?
- How has COVID-19, recession and macroeconomic volatility impacted the market?
- How long will the market take to recover? What are the opportunities now?
- How will political context and shifting cultural values shape future growth?
- Where is future growth expected to be most dynamic?
Consumer Credit in Mexico - Category analysis
KEY DATA FINDINGS
Market potential brings the increasing prominence of fintech companies in consumer credit in Mexico
High expectations around continuity in new government policies regarding the minimum wage
Dynamic credit ecosystem shifting consumers’ expectations
Uncertainty in the macroeconomic outlook could put Mexicans’ payment capacity at risk
Collaboration between traditional banks and fintech will be a key factor for the growth of consumer credit in the coming years
AI expected to increase operational efficiency and top-line loyalty programmes
Consumer Lending in Mexico - Industry Overview
Consumer lending in 2024: The big picture
2024 key trends
Nearshoring, along with more attractive interest rates, expected to boost mortgage lending in Mexico
BNPL shows itself as an attractive space for investors
What next for consumer lending?
DISCLAIMER
The following categories and subcategories are included:
Consumer Credit
- Auto Lending
- Card Lending
- Durables Lending
- Education Lending
- Home Lending
- Other Personal Lending
Consumer Credit
Non-mortgage consumer debt extended to individuals for personal or household use including installment loans and credit cards. Examples of consumer credit include auto lending, card lending, durables lending, education lending, home lending and other personal loans. Consumer credit includes both revolving and non-revolving credit.
See all of our definitionsWhy buy this report?
- Gain competitive intelligence about market leaders
- Track key industry trends, opportunities and threats
- Inform your marketing, brand, strategy and market development, sales and supply functions
This report originates from Passport, our Consumer Credit research and analysis database.
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