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Strategy Briefing
Consumer Lending 2014: Trends, Developments and Prospects
Jun 2014
US$1,325Added to Cart
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About This Report
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If you purchase a report that is updated in the next 60 days, we will send you the new edition and data extract FREE!
The developed world has the largest consumer lending markets, but growth is slowing as borrowing takes off in emerging markets. In emerging markets, the story is about moving the unbanked into the financial mainstream, but this newfound access to credit also poses challenges.
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Overview
Why buy this report?
Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.
Most consumer debt is carried by developed market consumers
Globally, consumer lending debt stood at US$37.3 trillion in 2013. North America was the largest consumer lending market in terms of debt in 2013, with an outstanding balance of US$14.5 trillion, followed by Western Europe.
Card lending extends lead over mortgages in terms of new loan issuance
Gross mortgage lending as a share of consumer lending has steadily fallen from its high in 2003 as the mortgage industry collapsed. In 2010, card lending surpassed mortgages as the top lending type and has since expanded its lead.
Card lending opens door to credit for many emerging consumers
The arrival of financial cards to emerging markets not only gave many consumers a new way to pay, but it also gave them easy access to credit. Consumers could now more easily pay at a later date for a purchase. Of course, this newfound access to credit came with its own set of challenges.
Latin America embraces card lending
Three Latin American countries ranked in the top 10 for the fastest growth in card lending debt since 2008. In addition, out of the top 15 markets with the greatest reliance on card lending as of 2013, four are Latin American markets.
Scandinavians are more indebted than any part of the world
Three of the top markets worldwide for the highest level of indebtedness are in Scandinavia, which includes Denmark, Norway and Sweden. When taken together, the debt in the three markets stood at 190% of income as of 2013.
North America expected to remain top market for outstanding balance
North America is projected to remain the largest consumer lending region in terms of debt, with an outstanding balance of US$17.2 trillion in 2018, followed by Western Europe.
European debt crisis continues to inhibit consumer lending growth
The continued economic stagnation in Europe coming on the heels of the European debt crisis continues to hurt future consumer credit growth prospects in those markets.
What this report includes
- Top-level strategic analysis of how major consumer trends will influence global markets
- Consumer insight
- Impact across all relevant consumer markets
- Unique graphics and case studies
- Key market snapshots
- Accompanying presentation to synthesise main findings
Why buy this report
- Identify factors driving change now and in the future
- Understand motivation
- Forward-looking outlook
- Briefings and presentation should provoke lively discussion at senior level
- Take a step back from micro trends
- Get up to date estimates and comment
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Introduction
Scope
Key findings
Overview of Global Lending Market
OVERVIEW OF GLOBAL LENDING MARKET
Borrowing in developed markets still hurt by weak mortgage market
Global debt dominated by mortgages in developed markets
Debt has been expanding across all categories on a global basis
Card lending extends its lead over mortgages as top loan type
Developed market consumers borrow more than emerging ones
Mainstream lenders dominate consumer lending market globally
Payday lenders face increased scrutiny in several markets
Card Lending Opens Door to Credit
CARD LENDING OPENS DOOR TO CREDIT
Card gross lending expands, surpasses mortgages as top loan type
Popularity of loan types by region
Perception as an easy way to obtain credit aids card lending growth
Asia Pacific overtakes North America as top card lending region
Emerging countries rely on card lending more than other market
Latin America: Example of a region embracing card lending
Card lending becomes a popular conversion tool for the unbanked
Chile illustrative of Latin American credit card binge
Rapid economic success leads to high indebtedness in Chile
Credit card binge has left many Latin Americans deep in debt
La Polar scandal brought to light abusive practices by non-banks
High levels of indebtedness could limit future growth prospects
The Scandinavian Consumer Debt Crisis
THE SCANDINAVIAN CONSUMER DEBT CRISIS
Scandinavians owe nearly twice their disposable income in debt
Vast majority of debt across Scandinavia relates to housing market
Popularity of home lending also adds to housing-related debt
Norwegians posted the greatest rise in indebtedness since 2008
Norwegians just now coming to grips with looming housing crisis
Swedish amass debt in belief that housing is a sound investment
Rising level of consumer indebtedness in Sweden worries many
Denmark has fared the worst among its Scandinavian neighbours
Danes turn to other personal and card lending to maintain lifestyle
Indebtedness expected to rise further in Norway and Sweden
Danish indebtedness falling, but still expected to top ranking in 2018
New Scandinavian regulations aim to discourage borrowing
Growth of Scandinavia’s GDP will continue to outpace neighbours
The Way Forward: Lending Prospects
THE WAY FORWARD: LENDING PROSPECTS
North America is projected to remain largest lending market in 2018
Highest growth in new loans expected in Middle East and Africa
Card lending is projected to increase its lead over mortgages
Rise of middle class and urbanisation to spur auto lending
Rise of home renovations expected to boost home lending category
Economic stagnation in Europe continues to inhibit lending growth
Report Definitions
Data parameters and report definitions (1)
Data parameters and report definitions (2)
Why buy this report?
Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.
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