INSIGHTS ¦ A new way to view the UK consumer credit market

Oplo Whitepaper

Summary
This document outlines the profound shifts within the UK consumer credit market, identifying an emergent category called "The New Mainstream." This category encapsulates a significant portion of British consumers who no longer fit traditional prime or near-prime classifications due to evolving credit behaviours and economic conditions. The report, prepared by Oplo in July 2021, challenges outdated segmentation models and calls for a more dynamic approach to consumer credit, advocating for a focus on consumer potential rather than past credit problems.
Key Points

Emergence of 'The New Mainstream': This new category represents consumers who straddle traditional prime and near-prime segments.
Shift in Consumer Behaviour: Rapid changes in consumer behaviours and credit access are influencing market dynamics.
Outdated Segmentation Models: Traditional customer profiling in the credit industry fails to accommodate the fluid nature of consumer financial situations.
In...