In addition to economic recovery, promoting financial literacy is crucial to ensure that Brazilian consumers can manage their existing debts and access new loans in the years ahead. While access to banks and financial institutions has been expanding in Brazil, with the majority of adults having some connection to the National Financing System (SNF) and access to credit, the overall level of financial education among the population remains low.
Brazilians are accustomed to dividing payments into instalments, whether through traditional retail credit (“crediário”) or credit cards. With consumers actively searching for the best deals, aided by easy access to online information, lenders face a competitive landscape.
The importance of instalments in the payments landscape is so significant that the mere discussion of possibly ending the interest-free instalment option to consumers, or even attaching a fee to it, make retail, foodservice, small establishments in general, and even airlines, worried that the less affluent will have their purchasing power significantly limited. Such discussion is expected to be concluded in the final quarter of 2023 and was suggested by Brazil’s Central Bank as a way to constrain indebtedness among the most vulnerable sections of society by making it more expensive for the latter to take on debt, which would therefore contribute to lower default levels.
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Understand the latest market trends and future growth opportunities for the Consumer Credit industry in Brazil with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
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Consumer Credit
Non-mortgage consumer debt extended to individuals for personal or household use including installment loans and credit cards. Examples of consumer credit include auto lending, card lending, durables lending, education lending, home lending and other personal loans. Consumer credit includes both revolving and non-revolving credit.
See All of Our DefinitionsThis report originates from Passport, our Consumer Credit research and analysis database.
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