Consumers and Retail Credit Sector Issues and Insights- UK - February 2018

Published on : Feb 27, 2018

Albany, New York, February 27, 2018: Retail credit facility is basically a financing process that offers loan services to retail customer so that they can buy goods and services. With the help of this facility consumer can take funds on a loan to purchase expensive or high value items but are not having enough capital. Due to this facility of retail credit, large number of customers are able to access goods and services sell by retailers. In UK, the better availability of goods and consumer’s confidence over the retail credit facility is driving the growth of retail credit market. According to lately published report on consumer and retail credit titled, “Consumers and Retail Credit - UK - February 2018,” online retail credit application and provision is expected to be more streamlined and is likely to attract more new consumers. This is possible due to innovations in technology. The most important factor which is expected to fuel the growth of the market is partnership with fintech firms which create accessibility of retail credit among consumers.

Consumers and Retail Credit – UK- Drivers

Sometimes retail credit card gives an offer of interest free period. For instance, many times consumers do not have to pay any interest on the amount which they have taken as loan. This facility can be availed even for first six months. This is one of the better way to manage the flow of cash, as long as the consumer is paying off their balance completely before this interest free period ends. To get special offers or more discounts is common thing for consumers who are holding retail cards. For instance, consumers holding retail cards can take an advantage of extra discounts apart from other discounts during sale. Signing up for retail card itself is beneficial as it give reward points and discounts on immediate purchase. 

Consumers and Retail Credit – UK- Restraints

Unlike standard credit card which are more flexible, retail cards generally do not come with similar flexibility. Retail cards are typically accessible in only those store, which issue those cards. For instance if consumer have purchased the retail card for a store which doesn’t sale Television then consumer would not be able to take advantages another store which sale TVs. Retail credit cards typically charge highest interest cards. For instance, if interest rate on standard credit card is 20%, the retail card charges around 30% interest rate. Due to squeeze on income, consumers have to cut back their spending power which can also hamper the growth of consumer and retail credit.  

Why you should buy this Report?

While examining this market, each and every interview has been taken into consideration and analyzed systematically. Average volume of market is assumed and it is reconfirmed before including it in the report. Various factors which are boosting the consumers and retail credit market are also assumed based on several segmentation, and thus average price for each treatment type is deduced in UK region which is covered in this report. An average value of UK consumers and retail credit market is finally calculated with the help of data that is offered on the basis of market volume. All these features make this report an exceptional one.

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