The ban on Sunday trading not only affects a large proportion of entrepreneurs and consumers themselves, but also companies from the non-banking sector. Services in the digital lending sector , i.e. electronic short-term loans, were particularly affected .
Forecasts and reality
Even before the new regulations were introduced , it was predicted that the ban on Sunday trading could have a positive effect on the amount of short – term loans granted online . It was expected that the inability to do traditional shopping at the weekend would increase interest in online shopping, and thus a greater demand for the services of loan companies.
The reality turned out to be completely different. Since a quite controversial provision for many business environments has been introduced restricting trade on Sunday (from 1 March 2018) , many experts have argued about the disastrous effects of this ban on many sectors of the Polish economy, including the financial market. Only after a few months of trade restrictions can you notice a significant difference between the number of financial services carried out on commercial Sundays and the number of commitments given on non-trading Sundays.
The research of the Polish Association of Loan Institutions shows that it fell by as much as 15% interest in online loans on Sundays with a trade ban compared to trading Sundays. According to all forecasts, this trend will get worse over time.
Why is this happening?
The introduction of a trade ban on Sundays, naturally, significantly changed the shopping habits of a large proportion of Poles. Many clients of loan companies decided to make a financial commitment while shopping on Sundays. Every third consumer uses mobile devices when submitting a loan application outside their own place of residence. It is in this group of people that the decline in commitments is seen to fall on a Sunday with a trade ban. The reason is simple – since there is no way to shop, there is also no need for a quick short-term loan.
The natural consequence of introducing the Sunday trade ban is a decrease in interest in online loans on days covered by these restrictions. At the same time, it confirms the trend that Poles like to do more shopping on non-working days, when they can meet their material needs without haste.