Due to economic uncertainty and high interest rates in all financial entities to demotivate debt, short-term consumer loans have taken a toll, even more so than long-term loans that tend to have lower value quotas. Banks have sought new ways to encourage Chileans to choose consumer credit.
E-commerce has progressively gained momentum in Chile over the years, but was significantly adopted by local consumers following the emergence of the pandemic. Due to prolonged quarantine periods, Chileans turned to different platforms to purchase various items.
The inflation control measures taken by the Central Bank since the end of 2021 should reach their most restrictive points during 2022 before beginning to relax over 2023. The consequent rate reduction could reactivate the local economy and boost consumer credit gross lending.
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Understand the latest market trends and future growth opportunities for the Consumer Credit industry in Chile with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Consumer Credit industry in Chile, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
Non-mortgage consumer debt extended to individuals for personal or household use including installment loans and credit cards. Examples of consumer credit include auto lending, card lending, durables lending, education lending, home lending and other personal loans. Consumer credit includes both revolving and non-revolving credit.See All of Our Definitions
This report originates from Passport, our Consumer Credit research and analysis database.
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