Shifting habits in Consumer finance

Oriental Outlook November 8

Consumer finance has gained popularity in China with Millennials and Generation Z becoming the primary force of consumption. unlike the elder generations who refrain from making purchases until they have saved enough money, the younger generation’s conception of finance and consumption has shifted significantly. They are keen to upgrade their consumption habits and improve their quality of life through consumer loans. Some e-commerce platforms have either established their own consumer finance models or collaborated with third parties to provide installment services. however, companies that provide installment loans for consumers should guide young people to use their services appropriately to prevent risk and ensure personal fiscal stability.