PROSPECTS AND OPPORTUNITIES
Little change in the competitive landscape
No major changes are expected in the competitive landscape. While the share of key lenders such as mainstream banks are likely to see some annual fluctuations, no drastic changes are expected, apart from those connected to changes in ownership of certain players.
BNPL expected to continue growing
The growing popularity of BNPL schemes will remain a key trend in consumer lending over the forecast period, led by Klarna. While other personal lending itself is a relatively small part of consumer credit in 2024, BNPL has made significant progress and represented some 90% of other personal gross lending in 2024.
Role of AI is expected to strengthen
In consumer credit, the role of AI is expected to strengthen over the forecast period. For example, Klarna has already been in the media headlines amid plans to significantly reduce its workforce due to technological change.
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Overview:
Understand the latest market trends and future growth opportunities for the Consumer Credit industry in Norway 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 Norway, 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 Norway 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 Norway?
- What are the major trends key to understanding Consumer Credit in Norway?
- 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 Norway - Category analysis
KEY DATA FINDINGS
Card lending continues to rebound post-pandemic
Norwegians prefer to pay back credit swiftly
Mainstream lenders account for majority of gross lending
Little change in the competitive landscape
BNPL expected to continue growing
Role of AI is expected to strengthen
Consumer Lending in Norway - Industry Overview
Consumer lending in 2024: The big picture
2024 key trends
Mortgages/housing face challenges amid rising interest rates
High interest rates prevail to counter inflation
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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