Abstract
Introduction
The recession in the UK has impacted lending considerably and the consumer
credit landscape is now very different to what it was a year ago. However,
with change comes opportunity, and with signs of a slow but steady recovery on
the horizon, lenders will need to move quickly to take advantage of the
improving consumer sentiment in the economy.
Scope of this research
- Covers unsecured personal loans, credit cards, overdrafts, motor finance
and retail finance in the UK with the main focus on unsecured personal loans.
- Provides forecasts under 3 different scenarios for the consumer credit
market as a whole as well as for individual product lines.
- Includes market share data for 2008 for major personal loan providers and
examines the latest competitor developments shaping the market.
- Provides discussion and analysis of several key issues facing UK consumer
credit lenders.
Research and analysis highlights
The UK personal lending market has suffered considerably over the past year.
Lending has declined across all product lines, and many lenders have left the
market entirely. While some signs of recovery are on the horizon, the supply
of credit is still restricted, and perhaps more importantly, consumers are
reducing borrowing and debt obligations.
Datamonitor expects conditions to remain tough throughout 2009 and 2010 before
improving in 2011. Datamonitor' s expectation is of an overall contraction of
around 12% in the market from £192.9 billion to £170 billion
between 2008 and 2009.
The competitive landscape has also shrunk considerably. In June 2008, there
were 46 lenders offering unsecured personal loans, down from 58 in June 2007,
however, by June 2009 this number had dropped further to just 37.
Key reasons to purchase this research
- Gain access to the latest market sizing and forecasting data for the UK
consumer credit market to place your performance in context to the market' s.
- Gain insight into how your competitors are responding to the various
issues facing the unsecured lending sector.
- Receive updated market share data to tell you how your company compares to
your closest rivals.
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