Abstract
Overview
Introduction
Providers have struggled in recent years as the UK home collected credit
market stagnated. However, the tide appears to have changed following a couple
of years of growth. Yet this is still a mature market, with several ongoing
challenges that participants need to address in order to ensure continued
success.
Scope
- Sizes the UK home collected credit market and presents scenario-based five
year forecasts.
- Provides market share data for the major competitors in the home collected
credit market.
- Gives insight into the future challenges of the market and how lenders
could respond.
Report Highlights
The home collected credit market' s future growth remains inhibited by its
highly mature nature. There is still good reason for providers to look to
diversify into other product areas or grow the business through geographical
expansion, though lenders focused on the sector will be able to experience
higher lending volumes than in previous years.
Economic conditions have become tougher for home credit customers, as
household bills have increased in recent years. Such higher household expenses
are taking up a greater proportion of home credit customers' salaries and are
therefore pushing more of them towards home collected credit, more often than
not to fill the gap until the next payday.
Though the market has reached a stage of maturity, consolidation nevertheless
continues, creating opportunities for a number of larger lenders. So far,
Cattles and S&U are particularly taking advantage of the occurring
consolidation.
Reasons to Purchase
- Understand how the market is changing and where the new opportunities lie.
- Gives you a competitive edge by providing you with a thorough analysis of
the UK home collected credit market.
- Draw on Datamonitor' s five-year scenario-based forecasts to plan your
future strategy with confidence.
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