While the current economic climate has fostered a defensive consumer mindset, stronger economic performance over the next year will stimulate more demand for loans.
Brian O’Connor, Category Director – Irish Reports
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Executive Summary
- Market dynamics and outlook
- Graph 1: outstanding credit advanced to households (excluding mortgage loans), 2019-28
- What consumers want and why
- Graph 2: credit/loan products that consumers currently owe money on (excluding mortgages), 2023
- Graph 3: when consumers took out their last loan, 2023
- Graph 4: how much consumers owe on loans or credit products, 2023
- Graph 5: agreement with selected statements relating to loans and loan providers, 2023
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Market Dynamics
- Market size
- Graph 6: outstanding credit advanced to households (excluding loans for home purchase), actual, estimated, forecast and projected, 2019-24
- Market forecast
- Graph 7: outstanding credit advanced to households (excluding loans for home purchase), forecast and projected, 2024-28
- Market drivers
- Graph 8: economic growth, estimated and projected, 2023-25
- Graph 9: economic growth, estimated and projected, 2023-25
- Graph 10: employment growth, annual %, estimated and projected, 2023-25
- Graph 11: employment growth, annual %, estimated and projected, 2023-25
- Graph 12: how consumers rate their own financial situation, 2023
- Graph 13: how consumers feel own financial situation compares to how it was a year or so ago, 2023
- Graph 14: how consumers feel about their financial situation over the next year or so, 2023
- Graph 15: inflation rate, annual %, estimated and forecast, 2023-25
- Graph 16: base interest rates, annual %, ECB and BoE, actual and forecast, 2023-25
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What Consumers Want and Why
- Ownership of loans and credit products
- Graph 17: credit/loan products that consumers currently owe money on (excluding mortgages), 2023
- Graph 18: consumers who owe money on a credit card, by gender and age, 2023
- Graph 19: consumers who owe money on a personal loan, by age, 2023
- Graph 20: consumers who owe money on a personal loan, by children in household, 2023
- Graph 21: consumers who do not owe money on any loan or credit product, by age, 2023
- Graph 22: consumers who do not owe money on any loan or credit product, by housing situation, 2023
- Graph 23: consumers who do not owe money on any loan or credit product, by social class and household income, 2023
- Timing and value of most recent loan
- Graph 24: when consumers took out their last loan, 2023
- Graph 25: how much consumers owe on loans or credit products, 2023
- Future plans for personal loans
- Graph 26: whether consumers intend applying for a new loan in the next 12 months, 2023
- Graph 27: consumers who say it is very unlikely they will apply for a loan in the next 12 months, by age, 2023
- Attitudes towards unsecured loans and lenders
- Graph 28: agreement with statements related to loans and credit, 2023
- Graph 29: consumers who regularly check their credit score, by age, 2023
- Graph 30: agreement with statement ‘The current economic situation makes me concerned about taking out a loan’, by housing situation, 2023
- Graph 31: agreement with the statement ‘Loan providers can be trusted to be transparent about fees’, 2023
- Graph 32: consumers who do not believe that loan providers can be trusted to be transparent about fees, by age, 2023
- Graph 33: agreement that it is better to find another way to borrow money as opposed to applying for a personal loan, 2023
- Graph 34: agreement that it is better to find another way to borrow money as opposed to applying for a personal loan, by age, 2023
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Competitive landscape
- Companies and brands
- Launch activity and innovation
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Appendix
- Supplementary data
- Report scope and definitions
- Methodology
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