According to the Compass Observatory, almost all Italians (88%) have resumed making plans. 51% plan to go on a trip / vacation and 23% plan to buy a car / motorcycle. A priority is then to live in a world that is more respectful of the environment and nature (43%). 2022 is full of optimism!
Whether it’s traveling, buying a house or a vehicle, renovating the house, redecorating the furniture or, more simply, getting married, it doesn’t matter: the best news is that Italians are aiming for the year that has just begun to resume making plans and traveling.
Yes, because what has been lacking most is freedom of movement. The pleasure of discovering new destinations. To take care of yourself. To enjoy time spent with loved ones. It is no coincidence that 51% plan to go on a trip / vacation.
According to the latest edition of the Compass Observatory, about 1 in 2 Italians say they are more confident than last year, especially for the country’s economy. The research dedicated to the expectations of consumers and merchants for 2022 conducted by the consumer credit company of the Mediobanca Group therefore speaks of an economic recovery.
And consumer credit always supports the desires and spending possibilities of Italians.
Expectations for 2022 according to consumers and merchants
For about half of Italians (45%), 2022 will mark an improvement for the country’s economy. Trust grows and also affects the personal sphere. In fact, about a third of the sample (30%) is convinced that the economic situation of their family will improve.
And how do the exhibitors think? For the first half of 2022, the merchants interviewed appear optimistic: over half (51%) estimate a favorable economic situation and a marked recovery in sales volumes compared to the first half of 2021 for their own commercial activities (52%). The most confident sectors? Furniture (59% will increase sales), electronics (55%) and automotive (40%).
The impact of the pandemic on the business of merchants
An interesting fact immediately emerges from the opinions expressed by the Compass affiliates. According to half (47%), customer behavior changed with the pandemic. Now they are more attentive to promotions and offers, especially when it comes to cars / motorcycles and electronics. They are more in a hurry and go into the shop only for “necessity” purchases. There are also those who perceive on their part greater nervousness and concern, but also much more concreteness.
In other words, if they enter the store, it is very likely that they will buy. Which, in a 2021 in which for 55% of exhibitors the turnout has returned to pre-Covid levels, is no small feat.
The changes in customer behavior correspond to a different approach on the part of entrepreneurs. In 2021, 55% of merchants developed solutions that could provide concrete sales support. The main solutions adopted include the opening of social channels, the creation of websites and the collection of orders via instant messaging. In general, over 30% of the affiliated companies expect to carry out some development projects for their entrepreneurial activity in the next two years.
Environmental sustainability
During 2021, 21% of the affiliated companies carried out at least one intervention to be “greener”. 39% of these digitized the documentation, 29% carried out a restructuring of the store for energy efficiency. In addition, 29% has also expanded the product range with more eco-sustainable versions.
Buy Now Pay Later
The Buy Now Pay Later service is gradually gaining ground. And this both at the point of sale and on e-commerce sites. At present, 6 out of 10 affiliates (60%) know it, with 18% already offering this possibility or planning to do so in the coming months.
Respondents especially like the speed (23%) and simplicity (11%) of the deferred payment compared to traditional financing. In addition to the possibility of meeting the needs of its customers in an innovative way (18%). The costs to be incurred for the service are the most popular cons.
The consumer credit market
In the first half of 2021, the volumes of loans disbursed marked the record for the highest level ever reached since 2015. More than 12 billion euros were disbursed, up by + 47.1% compared to the first half of 2020 and by 1, 5% compared to 2019.
About Compass Banca
Compass Banca is the consumer credit company of the Mediobanca Group. Among the leading consumer credit companies operating in Italy, it currently has 2.5 million active customers and 13.3 billion in outstanding loans. It currently operates through over 44,000 affiliated businesses and over 4,400 bank branches, coordinated by a network of approximately 280 points of sale throughout the country. It has its headquarters in Milan. Over time, it has entered into over 370 partnership agreements in the banking, insurance, distribution and agency networks.
Info
www.mediobanca.com
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