Introduction
Following a muted performance in 2005, the consumer credit market delivered a
worse performance in 2006. Indeed, after more than a decade of strong growth,
the consumer credit market has now slowed. Moreover, the majority of
individual product lines performed badly over the year. So what' s in store for
the consumer credit market over the next five years?
Scope
- Covers unsecured personal loans, credit cards, overdrafts, motor finance
and retail finance in the UK.
- Provides forecasts under 3 different scenarios for the consumer credit
market as a whole as well as for individual product lines
- Examines the factors that have impacted on the consumer credit market over
the course of 2006, as well as the previous four years.
Report Highlights
Constrained by various factors such as a weaker labor market, increasing
consumer debts and low consumer confidence, gross lending amounted to £207.8
billion at the end of December 2006, representing a contraction of 4.5 per
cent on the 2005 level (£217.5 billion).
Unsecured personal loans and credit cards remain the dominant products in the
consumer credit market in terms of balances outstanding. However, credit cards
lost share over 2006 as a result of its poor performance and its share now
stands at 26.2 per cent, while personal loans continued to gain market share,
standing now at 56.6 per cent.
Though the consumer credit market suffered over 2006, it has nevertheless seen
significant growth over the last decade. Yet motor and retail finance have
been exceptions to the rule, with both product lines slowly losing market
share to direct lending. Indeed, over the last few years a number of leading
financiers have exited the POS market.
Reasons to Purchase
- Gain access to the latest market sizing and forecasting data for the
consumer credit market to place your performance in context to the market' s.
- Understand how the market is changing and evaluate any opportunities for
your business arising from these changes.
- Plan your future strategy with confidence using Datamonitor' s scenario
based forecasts of UK residential gross advances to 2011.
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