How Consumers in the UK Save and Invest, 2020 - 45% of Consumers Have Been Negatively Impacted by the COVID-19 Pandemic
DUBLIN, Aug. 14, 2020 /PRNewswire/ -- The "How Consumers Save and Invest 2020" report has been added to ResearchAndMarkets.com's offering.
The aim of this report is to study how UK consumers behave when they make financial investment and saving decisions.
45% of consumers who own savings and investment products have been negatively impacted by the COVID-19 pandemic, with the value of their money held in savings and investment products declining. Not surprisingly, given the impact of the crisis on stock market values worldwide, individuals who have money held in investment products like stocks and shares (labelled Investors) have felt its negative effects more than Savers (who tend to only own cash-based savings products), with 59% of Investors seeing a negative effect on their wealth.
COVID-19 has led to a sharp downgrading in sentiment regarding the growth of wealth over the past year. Pre-crisis, around four-in-ten Savers and Investors were happy with the growth of their wealth, compared with less than one-third today. Despite this, two-thirds of Savers and Investors have decided to take no action because of COVID-19 and effectively ride out the storm rather than change how they Save and Invest.
Despite wealthier Savers and Investors being the most adversely impacted by COVID-19, they still enjoyed higher returns over the past year compared with less affluent Savers and Investors. Over the past year, the typical saver and investor earned a return of around 3.6%, rising to 9.8% for those with 500,000 or more in wealth.
Examples of other findings from this report are:
WHO ARE SAVERS AND INVESTORS?
SAVING AND INVESTING PREFERENCES AND GOALS
WHERE MONEY IS SAVED AND INVESTED
HOW MONEY IS SAVED AND INVESTED
THE DRIVERS OF PRODUCT CHOICE
GETTING ADVICE AND SOURCING INFORMATION
SUSCEPTIBILITY TO SCAMS AND MIS-SELLING
THE IMPACT OF COVID-19 ON SAVINGS AND INVESTING
For more information about this report visit https://www.researchandmarkets.com/r/n9setl
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