FARMINGTON, Conn., April 11, 2013 /PRNewswire-iReach/ -- Here's a worrying trend: the savings rate in the U.S. is falling. Paralleling this under-saving trend, analysts are observing that more Americans are portioning a greater share of their wealth in retirement accounts. At the optimal ratio, it makes sense to have more in higher yield retirement accounts than in liquid savings. However, because overall liquid savings are at significantly lower levels, it may explain why there's been an increase in the number of people taking out loans against their 401(k) plans or paying early withdrawal penalties. Less cash on hand means less preparedness for life's rainy days or sudden financial potholes.
Similar trends are happening in other parts of the world as well. Economists are cautioning people in Europe of a "demographic timebomb" as ageing populations place an unstainable burden on already strained public finances. The solution? Encourage people to save more. But what strategies should be employed? How do the factors driving savings behaviour vary across different consumer segments? What are consumers' main priorities and concerns with respect to their savings?
A new report "UK Savings Map" examines the significant challenges facing the savings market in the U.K. Low interest rates and pressures on household budgets are reducing both the inclination and ability of many consumers to save, and the market is becoming increasingly fragmented with respect to savings-related behaviour.
The report identifies key trends driving consumer attitudes and behavior, and recommends strategies that providers can use to attract different types of saver.
More information about this report and a free sample are available at http://www.giiresearch.com/report/dc268582-uk-savings-map.html
Retail Savings & Investments: Global Industry Guide
An essential resource for top-level data and analysis on the global retail savings and investments industry, this report includes detailed data on market size and segmentation, textual analysis of the key trends and competitive landscape, and profiles of the leading companies.
More information about this report and a free sample are available at http://www.giiresearch.com/report/mkl258775-retail-savings-investments-global-industry-guide.html
Banks are turning to the online channel as a way to help people save more by making retail banking easier and more convenient. The proportion of new savings accounts opened online exceeded the proportion opened in-branch for the first time in 2011, and the gap is widening. In 2012, just one third of new accounts were opened in-branch, compared to nearly six in 10 online. New research from "Next-Generation Online Banking: Mobile, PFM, and Bill Pay" examines how online banking is evolving from transaction-oriented platforms to be more powerful and convenient by utilizing customer-centric solutions.
Highlights from the report include: Ways for financial institutions to achieve an online banking presence; The diverse range of online services from mobile remote deposit capture (RDC) to personal financial management tools (PFM) enabled by advances in mobile and tablet technology; Growth opportunities for online banking products in the United States, Europe, and Asia; New capabilities under development for both online and mobile banking.
More information about this report and a free sample are available at http://www.giiresearch.com/report/mag263963-next-generation-online-banking-mobile-pfm-bill-pay.html
In the UK retail banking market, the online banking channel has already proven its worth, but changing pressures and ever-demanding consumers mean that providers need to ensure that their online propositions continue to meet customer needs.
"Online Banking in the UK: Sizing the Market Opportunity" explores the balance between maintaining a satisfactory online banking proposition that allows consumers to carry out their day-to-day banking, and the merit of additional online features such as personal financial management (PFM).
More information about this report and a free sample are available at http://www.giiresearch.com/report/dc268584-online-banking-uk-sizing-market-opportunity.html
Find more market research for the banking service industries
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