2022 is seeing ongoing recovery in consumer lending, which is mainly attributed to the now near absence of pandemic restrictions (for example, no more lockdowns), alongside an ongoing rebound in non-grocery purchases, primarily electronic and consumer appliances, home and garden, and media and educational games. Within this, the up-spending on items and refurbishment for the home has benefitted specialised card agencies.
The 2020-2021 period saw auto lending register declines, although the situation is looking better in 2022. It is noted that sales of cars enjoyed double-digit growth during the first half of the year, in comparison with the first quarter of 2020 when sales slumped.
When times are bad, whenever possible, the French tend to save money or invest in real estate. However, 2022 witnessed the slowdown of the real estate market in France due to the drop of prices in Paris.
One of the main events of consumer finance over 2021-2022 was the astonishing breakthrough of Buy Now Pay Later (BNPL) in France, not only in consumer lending but also in credit, charge, and store cards. While it was still an epiphenomenon in 2020, BNPL benefited in 2021-2022 from the enthusiasm of retailers and consumers for these credit solutions for small amounts and short durations that have, so far, escaped local consumer credit regulations.
Since the beginning of the Ukraine-Russia war and sluggish economies in industries in France, players in finance are becoming slightly less optimistic about consumer lending in the coming years than they were in the second half of 2021. In the middle of 2022, interest rates were soaring on the financial markets – e.
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Aggregate of Consumer Credit and Mortgages/Housing. Gross Lending: The total value of loans advanced by institutions in a given year; data refers to single year only. Outstanding Balance: The collective amount owed by borrowers at the end of a given year; data refers to the cumulative impact of debt.See All of Our Definitions
This report originates from Passport, our Consumer Lending research and analysis database.
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