NIELSEN: KOREA RANKED THE 5TH GLOBALLY AMONG TOP 10 CREDIT CARD USING MARKETS
- KOREAN CONSUMERS (39%) RANKED THE 1ST GLOBALLY AMONG THOSE WHO RELY ON FINANCIAL PLANNER/ADVISER ON THEIR INVESTMENT DECISION
- KOREAN INVESTORS (56%) ARE CONSERVATIVE ON INVESTMENT RISK…FEMALES (63%) ARE MORE CONSERVATIVE THAN MALE INVESTORS (51%)
(Graph 1) Finance/Investment Decisions
(Graph 2) Perception on Investment Risk
Korean consumers also prefer to pay with cash(67 percent) and debit cards(36%) while majority of the global consumers pay with cash(80 percent), followed by credit cards(52 percent) and debit cards(43 percent).
Of those that use credit cards, most of Korean consumers (85 percent) indicated they repay all of their credit cards in full each month, which is higher than the global average (68 percent) and ranked the 4th globally amongst the total markets surveyed.
“Through this survey, we can reaffirm that credit cards usage in Korea is much higher and analysed why Korean consumers prefer credit cards to cash when it comes to a common payment method. It is because that Korean consumers utilize credit cards as not only a payment tool but also an investment technique by making use of a variety of benefits such as discount and point saving provided by credit cards company.” said SeongRim Sohn, director of financial industry research in Nielsen Korea.
Finance/Investment Decisions
Nielsen’s survey shows that when making personal finance or investment decisions, nearly 4 out of 10 Korean investors (39 percent) said they seek advice from a financial planner/adviser, which ranked the 1st globally among the total markets surveyed. On the other hand, nearly half of global (49 percent) and Asia Pacific respondents (47 percent) said they rely on themselves and even don’t trust anybody else. (See graph 1)
Perception on Investment Risk
When asked about perception on investment risk, Korean consumers show conservative attitude. 16 percent of Korean investors said “I would be very concerned about any volatility and will not accept any potential loss of principal” and 40 percent indicated that “I am conservative, but can accept some minor fluctuations in my portfolio's value and some potential loss (+/-5%) of principal”. Particularly, Korean female investors (63 percent) are more conservative than male investors (51 percent). (See graph 2)
Investment Transaction Channels
Three-quarters of Korean consumers investing their money use online banking (75 percent) for their investment transactions, followed by bank (physical branch, 68 percent) and mobile phone (31 percent).
When examining global investors by age, Nielsen finds that while 75 percent of younger investors aged 21 – 29 use online banking to conduct investment transactions, 60 percent of investors aged 50 – 59 and 50 percent of consumers aged 60 and over do so. Comparatively, 15 percent of investors aged 50 - 59 use mobile phones for their investment transactions while 41 percent of consumers under 20 and 35 percent of consumers aged 21 – 29 do so.
“Although concerns exist around security, consumers are seeking information through their mobile phones for investment decisions. The adoption of this platform is greatest amongst younger age groups and as the level of smartphone penetration accelerates, mobile usage for investment decisions is expected to grow accordingly, becoming a vital tool for making swift investment transactions and capturing different investment opportunities on the go.” said Sohn.
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웹사이트: https://nielseniq.com
연락처
Corporate & Marketing Communications
Nielsen Korea
Hee Jung Yang, manager
02-2122-7080
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