Saving and Investing for the Long Term - UK - February 2009
The world in early 2009 is much changed from a year earlier when Mintel’s previous Long-Term Savings & Investment report was published. A near financial meltdown in the autumn resulted in banks failing and markets faltering resulting in government intervention on a global scale. The impact on the UK financial services industry has been immense. Once great banking institutions have seen their market values fall by 90% with nationalisation of the RBS Group or Lloyds Banking Group increasingly likely. Billions of pounds of taxpayer’s money have already been spent on recapitalising these two businesses.
Lessons learnt by the Tripartite Authorities (the government, BOE and the FSA) from the run on Northern Rock in September 2007, when a lack of quick action caused savers to panic, prevented a similar situation developing in autumn 2008. Levels of deposit protection were quickly raised to £50,000 together with an implicit guarantee that all bank and building society deposits were safe. When it comes to equity-based investments, 2008 was also a tumultuous year for financial markets worldwide. Most major indices recorded decade lows with the FTSE 100 experiencing its worst year since its launch in 1984, down 31%.
This report looks at the impact of the financial turmoil on the market for long-term savings products, from cash to equity-based investments. It also examines the way in which consumer expectations of economic slowdown is affecting behaviour – whether people are increasing their ‘rainy day’ savings, or whether stretched budgets mean that day-to-day survival is more important than long-term savings. Drawing on both market data and fresh consumer research, this report presents an overview of the savings market – its size, the key trends, and the way in which it is responding to the seismic changes seen in the financial services industry.
What is the economic and investment climate?
How do industry executives view the current operating climate?
What is the state of consumer confidence and how financially active are consumers intending to be?
How has investment sentiment changed in recent years?
What savings and investment products do consumers have and what is the level of investible assets held?
How have consumers’ attitudes towards the security of their money changed as a result of the financial crisis?
What is the size of the key market sectors and how have they performed recently?
What you get
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