New Delhi: Indians are more dependent on others while taking decisions for investments through internet compared to their global peers, as per a survey by information and measurement firm Nielsen.
“Nielsen’s survey shows that when making personal finance or investment decisions, nearly half (49%) of global online consumers rely only on themselves,” it said.
The survey, however, said compared to ordinary customers, net savvy Indians are more independent while taking investment decisions.
“As opposed to the average customer, online consumers in India appear to be far less dependent on others in decision exhibiting a marked independence in being self sufficient and not entirely trusting of people around them,” Nielsen India director Subhash Chandra said.
The report said 16% of Indian respondents indicated that they would take the advice of friends, relatives and colleagues while making financial decisions.
Globally, 20% of respondents sought advice from a financial planner or adviser while 18% relied on friends, relatives and colleagues for advice, the survey said.
When it came to investment options for the Indians, 64% of the respondents favoured mutual funds among the top four asset classes, Nielsen said.
It is followed by precious metals (63%), stocks (56%) and bonds (40%) as the most favoured investment options by online Indian consumers, it added.
“The increasing popularity of mutual funds as an important investment tool is fuelled by the aware online consumer, who sees great benefit in systematic investment plans on offer now,” Chandra said.
Besides, Indian netizens continue to be enamoured by precious metals for traditional purposes as well as investments because of the perception that these are profitable over the years, he added.
The global study, which surveyed over 28,000 internet respondents in 56 countries, showed that a total of 42% online Indian consumers made investments.
Interestingly, despite being net savvy, about four out of five (77%) of online consumers in India conduct their transactions at the branch of their favoured bank.
While 68% of respondents use online banking facilities, 42% use the mobile phone for their banking needs. Less than 37% use landline phone or financial planners for their banking and investment needs, the Nielsen survey said.
“In India, the urban Internet savvy consumer still prefers going to a physical branch to conduct banking transactions. The comfort of physical transactions outweighs a perceived insecure transaction mode of the online space,” Chandra said.
Considering other Asia Pacific countries, Indonesia tops with 81% respondents preferring conducting their transactions in a physical bank over online banking, followed by Malaysia with 79% and Philippines with 76%.
