“The rapid reduction in consumer spending caused by lockdown has resulted in a severe drop in outstanding consumer credit but COVID-19 has also seriously knocked the confidence of some borrowers. Older Millennials are most heavily reliant on unsecured debt, but their comfort with borrowing has been severely shaken and there is a risk that this will permanently affect their attitudes towards borrowing. Meanwhile, the attitudes of younger adults towards debt ...
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Overview
Overview
This report provides in-depth analysis and insight supported by a range of data. At the same time, introductory and top-level content is provided to give you an overview of the issues covered.
Executive Summary
The Impact of COVID-19 on Consumer Attitudes Towards Debt
Issues and Insights
Market
Market
Mintel provides a range of market information across categories including: forecasting and share information; internal and broader market environment information; and the issues that affect the market in question.
The Market – What You Need to Know
Unsecured Debt – Market Context
Secured Debt – Market Context
Cost of Debt
Consumer Context
Economic Outlook
Write-offs, Repossessions and Insolvencies
Regulatory and Legislative Changes
Advertising and Marketing Activity
Consumer
Consumer
Mintel conducts exclusive and original consumer research for reports, bringing up-to-date and unique insight to topical issues. This research examines the impact of social, economic, cultural and psychological influences on consumers.
The Consumer – What You Need to Know
Types of Credit Held
Value of Unsecured Debt
Changes in Debt Situation
Debt Intentions
Comfort with Level of Debt
Impact of COVID-19 on Credit and Debt
Experiences of Debt
Attitudes Towards Debt
Data
Data
Reports provide appendices of data to support the research and insight produced. Our tables of data are easily manipulated and downloadable to support your research needs and covers factors from consumer attitudes to market forecasts.
Appendix – Data Sources, Abbreviations and Supporting Information
11th March 2021
“M&S has announced the closure of its current accounts and in-store branches while re-launching its credit card and introducing a new digital credit option for loyalty card holders. With payments now a key battleground for retailers seeking differentiation in a tough market, some of the biggest retailers are starting to ... 
3rd February 2021
“The Woolard Review has recommended that BNPL firms lose their exemption from regulation. This will mean greater protections for consumers without having a detrimental impact on the sector.”
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The impact of COVID-19 on consumer attitudes towards debt and credit.
