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Home equity lines of credit (HELOCs) and bank card usage are up 24% and 17%, respectively. We should see a slight increase in production in 2025 and 2026 driven by lower rates. Consumer Credit – Cards There is a shift of capital occurring to the prime tiers of cardholders. Unsecured personal loan usage is up 21%.
After all, if people aren’t carrying bills – or even cards – with them, how will traditionally non-digital retailers keep up? This month’s edition of the tracker features an interview with Scott Reich and Michael Winik, co-founders o f OurHarvest , a New York-based pop-up initiative that’s part farmers market, part online grocer.
Research from Morgan Stanley projects the online retail market will explode from $15B in 2016 to $200B in 2026. Millennials account for one-third of India’s population. Other shoppers paid for purchases using online wallets that could be topped up at brick-and-mortar stores or pre-paid cards.
When it comes to planning strategy and investment across retail banking channels, financial institutions (FIs) should acknowledge that, for younger consumers and millennials in particular, cash still has an extremely important part to play. Wide-range appeal. It could also be that they simply value the convenience of cash.
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