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Debt-Related Stress Brings Marketing Opportunities

Experts also say the best way to reach consumers is through omnichannel or multichannel marketing strategies.

A strong digital marketing strategy is critical for CUs.

Consumers are stressed out about debt, according to recent stats from Mintel and Experian.

Sixty-four percent of millennials feel the amount of debt they carry is causing them significant stress. What’s more, household debt reached a record level of $13 trillion in the second quarter of 2018 after rising for 16 straight quarters. Although the Fed is not expected to raise interest rates for the rest of this year after increasing them four times in 2018, today’s higher interest rate environment is not making life any less stressful for many consumers.

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Peter Strozniak

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