Survey: Hire Purchase Ever More Popular among Slovaks

Bratislava, April 27 (TASR) - A survey carried out by Home Credit has shown that the average value of consumer goods purchased via instalments is growing year by year. Slovaks spent €674 per hire purchase in brick-and-mortar or online shops on average last year, €56 more than five years before. There has been no sign of a decline so far even during a year marked by the consolidation of public finances. In general, men engage in hire purchase much more often than women, with as many as 58 percent of all such purchases made by them. Customers are mainly focused on modern technology, with smartphones more popular than laptops, TV sets, smart watches and home appliances. The survey also showed that the amount financed via hire purchase has gradually increased in recent years. According to data available to Home Credit, the average value of a single consumer goods purchase was €618 in 2019, while it was €641 in 2022, €655 in 2023, and as high as €674 last year. "Interestingly, although a partial decline was expected this year, the trend of moderate growth persists, with data from the first months of 2025 attesting to this - an average of €688 was reported in January, €683 in February and €642 in March. However, there are usually fewer purchases in February and March, while Slovaks often make use of New Year sales in January," said Home Credit's sales director Marek Tomcik. ko/df