PROSPECTS AND OPPORTUNITIES
Inflation levels and BoE’s base rate will determine future growth of card lending
Gross lending on cards in the UK is predicted to record a 2% value CAGR (at constant 2024 prices) over the forecast period. One of the main factors driving this growth is the expectation that the local population will continue to rely on credit to deal with financial constraints, support their regular spending, and maintain their lifestyles.
Limited understanding of BNPL and excessive use for everyday purchases are raising concerns and prompting authorities to finally establish regulations
Upcoming regulations are anticipated to have an impact on BNPL's future growth. Although the introduction of regulations has been postponed for several years, the UK's new government has declared that efforts to consider regulations pertaining to this type of lending will begin in the short term.
Future expansion of auto lending in the UK set to be hindered by growing trend of car subscription models
The outstanding balance from non-card lending is expected to strongly rise over the forecast period, with a major contribution from education lending, where outstanding balance is set to record a 7% value CAGR (at constant 2024 prices). This will be driven by expectations for further increases in tuition fees and maintenance costs, which push students to apply for more loans for their studies.
Delivery:
Files are delivered directly into your account soon after payment is received and any tax is certification is verified (where applicable).
This report comes in PDF with additional info in Excel included.
Overview:
Understand the latest market trends and future growth opportunities for the Consumer Credit industry in United Kingdom 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 United Kingdom, 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 United Kingdom 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 United Kingdom?
- What are the major trends key to understanding Consumer Credit in United Kingdom?
- 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 the United Kingdom - Category analysis
KEY DATA FINDINGS
Gross lending and outstanding balance on consumer credit rises further as more individuals rely on credit to pay for everyday expenses
Rising tuition fees and cost of living drive up outstanding balance on education lending
BNPL usage continues to rise across the UK as regulations are further delayed
Inflation levels and BoE’s base rate will determine future growth of card lending
Limited understanding of BNPL and excessive use for everyday purchases are raising concerns and prompting authorities to finally establish regulations
Future expansion of auto lending in the UK set to be hindered by growing trend of car subscription models
Consumer Lending in the United Kingdom - Industry Overview
Consumer lending in 2024: The big picture
2024 key trends
Outstanding balance of mortgages/housing rises as many customers’ low fixed rate agreements expire
Strong local adoption of BNPL supports growth of other personal lending
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.
NEW REPORT GUARANTEE
If you purchase a report that is updated in the next 60 days, we will send you the new edition and data extraction Free!