Abstract
Overview
Introduction
The UK unsecured personal loan sector has continued to contract in 2007 and
more lenders are now focusing on good quality customers rather than volume.
Moreover, the advent of the credit crunch has led to fewer players in this
sector and to significant increases in personal loan interest rates, as well
as a marked change in customer acquisition strategies.
Scope
- Provides market shares in balances outstanding and gross advances for
major unsecured loan providers.
- Provides advertising spend for top personal loan providers.
- Discusses the key competitive changes in the market over the last twelve
months.
Report Highlights
Many lenders have intentionally been reducing their market share as they shift
their focus to good quality lending and reject more customers, as opposed to
losing share naturally.
From a total of 57 unsecured personal loan providers in May 2007, this number
has fallen to just 46 in May 2008, representing a contraction of 19% in the
number of unsecured personal loan providers.
While rising bad debts was the trigger for a shift away from mass customer
acquisition, the credit crunch has further contributed to this trend.
Reasons to Purchase
- Gain insight into the performance of your competitors.
- Learn how the market is changing and evaluate any opportunities for your
business arising from these changes.
- Learn how your competitors are adapting their strategies in a changing
market.
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