Resources

The personal lending market in 2022

September 30, 2022

What’s the big picture & what does it tell marketers?

Quad’s new e-book “The personal lending climate: What’s the best course for financial institution marketers?” presents a comprehensive look at what’s going on in the marketplace now and offers insights to help FI marketers succeed in today’s challenging environment.

Americans are still spending and looking for additional financial resources, but they have qualms.

  • The number of consumers who expect not only a recession but “one of the worst recessions we have seen” is twice what it was in 2020 and 2021 at the height of the pandemic — 30% vs. between 14% and 18%.*
  • Globally, more than half (54%) of consumers believe companies are raising prices beyond their own rising operating costs in an attempt to increase profits.
  • A belief in unfair pricing correlates to consumers planning to spend less.**

What to make of these trends? Mixed economic signals make charting the customer journey and planning an effective marketing strategy harder than usual. Quad can help.

*McKinsey & Co.
** Deloitte