As Black Friday approaches, the holiday shopping season once again brings a heightened risk of overspending, with social media and credit dependency playing key roles in driving financial vulnerability.
Europe’s economic recovery has been uneven across generations, with younger consumers facing greater financial challenges than their older counterparts. Intrum’s latest European Consumer Payment Report (ECPR) reveals that while many Boomers are navigating economic pressures successfully, Millennials and Gen Z consumers are struggling to keep up with rising costs, often turning to credit to bridge the gap.
Despite steady improvements in consumer confidence across Europe in 2024, many households continue to grapple with financial challenges. Intrum's European Consumer Payment Report (ECPR) reveals that, while more consumers are paying bills on time, regional disparities and heavy reliance on short-term credit highlight ongoing economic fragility. The survey offers a snapshot of financial resilience across Europe, showing that while Southern Europeans rank high in timely payments, many Northern households remain vulnerable.
Corporate indebtedness in Europe has become a critical concern as economic pressures push insolvency rates higher. With businesses facing mounting challenges from inflation, supply chain disruptions, and rising interest rates, understanding how these factors interplay is key to navigating the uncertain road ahead.
European businesses estimate that they are owed a staggering €10.5 trillion in receivables, an amount close to the combined GDP of France, Germany, and the UK. As this sum grows, the risk of late or unpaid invoices increases, putting significant pressure on businesses' cash flow, liquidity, and potential for future growth.
As AI continues to evolve, European businesses are increasingly turning to artificial intelligence to enhance credit management and improve payment processes. According to the European Payment Report 2024, businesses see AI as an essential tool in handling the complexities of late payments and fraud detection, but there are also significant risks involved.
A significant burden for European businesses, late payments consume an average of 73 business days. This article explores the variations in time lost across different countries, highlighting the ongoing challenges of managing receivables in the current economic landscape.
Payment terms and actual payment times remain a critical area of focus for businesses across Europe. Which country has best and worst payment discipline?
Insights from a pulse survey conducted in January 2024, indicate a positive development as some consumers feel that their household finances are improving. Consumers are confident about meeting their commitments – but financial wellness is about more than paying bills
The time that businesses spend chasing late invoices and negotiating payment terms soon adds up. According to our 2023 survey data, the average European business spends around 10-and-a-half hours each week chasing customers for payment. This is costing Europe a quarter of a trillion euros a year.
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