Consumer Finance

In a time of uncertainty, brands must ensure that the value proposition provided by their loyalty schemes is firmly aligned with customer needs, priorities and expectations, continuously refined and adapted to withstand disruption and changing market…

Loans became more expensive for consumers in 2023, as a result of the European Central Bank's interest rate policy, with rates rising in response to high inflation in the EU since the energy crisis broke out in 2022 and the war in Ukraine began. The…

Consumer credit has experienced a significant drop in all areas of gross lending in 2023. In light of the sharp increases in the cost of living since 2022, Austrians have generally been frugal with expenditure. Individuals are focused on meeting…

Following a decade of low borrowing costs, businesses and consumers now face increasing financial pressure due to a surge in interest rates in 2023. High interest rates have far-reaching consequences on economies, businesses and households, impacting…

As in so many cases, perhaps the biggest story for store cards in the US in 2023 has been the twin forces of high inflation and high interest rates. While inflation has crept down over the course of 2023 in the US, the price increases that have…

Store cards remained a niche in Austria in 2023, continuing a downward trend with a double-digit decline in transaction values despite the continuing shift to card payments. Most consumers in Austria are unfamiliar with store cards, and the usage of…

2023 is likely to go down as the first generally “normal” year of the 2020s. While 2022 saw most companies return to at least some form of hybrid working, the emergence of the Omicron variant early in the year had a significant effect on the overall…

Closed loop pre-paid card transactions in Austria are essentially merchant-issued gift cards, and demand for these continued to increase in 2023. In a time of persistently high inflation with increased prices of essentials such as food and petrol,…

The biggest news of 2023 has been administrative, with the Federal Reserve fighting inflation and the threat of recession. With inflation well above recent norms in 2022, the Fed spent roughly 18 months in a constant dance of deciding whether to…

Although cash transactions continued to play a strong role in Austria, a clear shift from cash to card payments continued in 2023. The outbreak of COVID-19 in Austria further accelerated the change, with consumers appreciating the contactless form of…