UK Consumer Credit 2017: Forecasts and Future Opportunities

NEW YORK, Feb. 22, 2018 /PRNewswire/ -- Summary



Read the full report: https://www.reportlinker.com/p03375859


Rate of growth in consumer credit gross advances, which picked up in 2015, has slowed and year-end figures for 2017 are expected to show growth of around 4.6%. Growth will remain moderate throughout the rest of the forecast period, meaning that gross advances are expected to total of around £329bn by 2021. On the supply side, high incidences of bad debt, tighter lending criteria, and a cautious approach towards unsecured lending among providers and regulators will check the rate of growth of credit supply over the forecast period.

On the demand side, the slow pace of economic recovery, political uncertainty arising from the Brexit negotiations, low levels of consumer confidence, and weak retail sales- largely due to consumers choosing to withhold spending -will adversely impact consumers' appetite for lending.

Critical success factors include in this report -
- Retail finance specialists should identify which retail sectors offer the best opportunities for growth, whether due to rising levels of spending or lack of current finance options. Innovation from fintech companies will soon provide small retailers with new financing options, increasing competition in the market. Hence, they should tailor their propositions to meet the needs of customers.
- Partnerships with established firms that have a longstanding reputation will help achieve the much needed scale for P2P platforms to compete.

The report "UK Consumer Credit 2017: Forecasts and Future Opportunities", offers five-year gross lending forecasts for all major lines of consumer credit up to 2021, along with a detailed examination of the various demand- and supply-side factors that will determine the market outlook.

Moreover, these report offers insight into -
- The key macroeconomic, regulatory, and other factors that will drive the demand for, and supply of, consumer credit over the next five years.
- The outlook for total consumer credit including overdrafts, P2P, motor finance, payday lending, home credit, credit cards, and retail finance.

Companies mentioned in this report: TSB, RBS, Lloyds Bank, Provident Financial, Wonga, Money Shop, Dollar Financial, QuickQuidCashEuroNet, Zopa

Scope
- Peer-to-peer (P2P) lending will see double-digit growth up to 2021. The sector will continue to enjoy rapid expansion due to increased consumer awareness and partnerships with other related sectors.
- The motor finance boom has started to decline, with growth falling to a lower level of 3.4% in 2017. New car sales are falling, and the excess of vehicles that will enter the used car market over the next few years will drive down prices. Both trends will dampen demand for credit.
- Payday lending has been severely curtailed by tougher regulation, including strict price caps and comprehensive affordability checks. These measures have significantly reduced the supply of credit and will depress gross lending.

Reasons to buy
- Develop more targeted strategies through the analysis of key market developments.
- Inform your future plans with our five-year forecast of gross advances for all credit lines.
- Analyze trends with details of historic gross advances across a range of credit lines
- Benchmark yourself against competitors and ensure you remain competitive as new innovations begin to enter the market.
- Be prepared for how regulation will impact the consumer credit market over the next few years.
- List companies, categories, geographies and target audiences covered in the report.

Read the full report: https://www.reportlinker.com/p03375859

About Reportlinker
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.

__________________________
Contact Clare: [email protected]  
US: (339)-368-6001
Intl: +1 339-368-6001 

SOURCE Reportlinker