Market Research Report
United States (US) Retail Banking 2020 - Review, Forecasts, and Future Opportunities
|Published by||GlobalData||Product code||962474|
Delivery time: 1-2 business days
|United States (US) Retail Banking 2020 - Review, Forecasts, and Future Opportunities|
|Published: September 11, 2020||Content info:||
This report explores trends in the US retail banking sector and offers insight into consumer preferences and behaviors. It highlights some of the most important data points available on the performance of the sector comparable to other markets, as well as the performance and perception of firms within the industry. New trends and innovations are also noted, as are the implications of COVID-19 for the sector.
Growth in the US retail banking sector has been strong over the past decade despite the significant impact of the global financial crisis. COVID-19 will significantly alter trajectories and forecasts in 2020, and mixed responses to the pandemic have led to a delay in the expected recovery. A V-shaped recovery is hoped for, although the likelihood of growth post-COVID-19 following similar trends and rates to those pre-COVID-19 is becoming less likely. Until 2020, economic growth in the US had been strong following pro-business tax cuts and a more favourable regulatory environment, despite the ongoing trade war with China and internal political tension. However, many of the benefits of such growth have failed to trickle down effectively, and infrastructure and investment plans have not been met.