Global: Where are consumers most likely to buy a financial product?
Research from YouGov Global Profiles shows that 38% of consumers across every market in our database intend to purchase a financial product in the next six months. This varies somewhat between regions. In MENA and APAC, for example, nearly half of the public (48% in both) are likely to buy a financial product in the next six months; in the Americas, it’s closer to three in ten (30%); and in Europe, it amounts to just a fifth of the public (22%).
But what kinds of products are they likely to buy?
Our data shows that the group who are more keen to purchase a financial product are more likely to look for profitable ways to invest (77% vs. 61% on average), more likely to take risks in the stock market (46% vs. 31%), and more likely to say they don’t mind taking risks with their money (54% vs. 38%). In a very broad sense, then, investment products – and active investment products in particular – may be a solid bet for providers targeting this group. New savings accounts could also go down well: 75% vs. 66% are planning to save more money next year.
Cryptocurrency – an area of increasing controversy – could also be appealing. People who plan to buy a financial product in the next half-year are significantly more likely to believe that cryptocurrencies are the future of online financial transactions (47% vs. 37%), and more likely to say they’d be willing to give up their bank account and use Bitcoin, Litecoin, Ethereum, or other coins instead (22% vs. 15%). Companies looking to sell financial advice might also benefit from targeting this group: 41% say they don’t make financial decisions without talking to a professional compared to 34% of the global population on average.
This is just a brief overview of some of the variables available in our Global Profiles dataset, which can provide in-depth, market by market knowledge to help financial service providers better target consumers who intend to buy financial products in the next year.
Methodology
YouGov Profiles is based on continuously collected data and rolling surveys, rather than from a single limited questionnaire. Profiles data is nationally representative and weighted by age, gender, education, region, and race. Learn more about Profiles.