A RAPIDLY CHANGING MARKET ENVIRONMENT: IMPACT OF THE FINANCIAL CRISIS

Sources. Hooman Estelami. Marketing Financial Services. New York: Dog Ear Publishing, 2006 (chapter one). Newspaper articles.

A point made by Hooman Estelnami: the consumer base has fragmented as a result of the financial crisis that started in 2008. This is especially the case in the West, where many people took on high levels of debt and are now in need to 'deleverage'.

On the other hand, a much thinner slice of the population did extremely well during the last decade, especially in Asia and in emerging economies.

This is yet another reason why financial services will become even more diverse in the coming years and decades.

[QUESTION / TASK. Find more evidence of this in newspapers, web]
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