Industry Analysis & Industry Trends
Over the past five years, many internet-savvy consumers turned to an increasing number of free online services, hurting industry revenue. Additionally, aggregate household debt slowly decreased over the period, along with the national unemployment rate, lessening the need for industry services. Revenue for the Credit Repair Services industry will continue to decline in the five years to 2020. As the economy improves and the unemployment rate continues to decline, the growth of consumer debt levels is expected to grow at a slower rate. Consequently, there will be a narrower scope for growth in credit repair services in the coming years.... purchase to read more
Industry Report - Industry SWOT Analysis Chapter
The Credit Repair Services industry is in the declining stage of the industry life cycle. In the 10 years to 2020, IBISWorld estimates that the industry's contribution to the overall economy, as measured by industry value added (IVA), will decrease at an average rate of 1.3% annually, whereas annualized GDP growth of 2.2% is expected over the same period. Although the industry has grown since the early 2000s, when consumers accumulated record levels of debt, it slowed in more recent years as consumers found alternatives to seeking industry services.
Industry products and services have remained the same... purchase to read more