The 2023 Ipsos edition for Le Cercle des Epargnants on the preferences and investment strategies of the French people shows how much the revaluation of the yield on savings accounts has influenced opinion in recent months.
Asked about their favorite financial products, the French placed regulated savings accounts ahead of life insurance for the first time: 37% consider them their favorite investment, and 50% among the best products, a score on the rise. by 20 points compared to last year – when the booklets still brought in only 0.5%.
Life insurance, for its part, lost 4 points compared to 2022, and 7 points compared to 2021. This was followed by home savings plans and accounts, employee savings, as well as PEAs – which remained more or less stable – followed by PER, slightly up on 2022 (+1 point).
| Ipsos/Le Cercle des épargnants survey, Jan. 2023. Response rate to the questions: “To save money, what are the best products in your opinion? First? And second? (two possible answers)”.class=”empty”> | ||||
|---|---|---|---|---|
| Financial product | Favorite product in 2023 | First or second favorite product in 2023 (total) | vs. in 2022 (total) | vs. in 2021 (total) |
| Regulated savings account (Livret A, LDDS, LEP, Livret Jeune) | 37% | 50% | 30% | 30% |
| Life insurance | 15% | 27% | 31% | 34% |
| Housing Savings Plan/Housing Savings Account | 9% | 23% | 22% | 22% |
| Employee savings | 5% | 14% | 15% | 15% |
| PEA (share savings plan) | 4% | 10% | 8% | 9% |
| PER (retirement savings plan) | 3% | 10% | 9% | 10% |
| Accounts titles | 3% | 7% | 7% | 7% |
| Perp, Madelin, Prefon, CRH, Corem | 3% | 6% | 5% | 3% |
| Group retirement savings plan (Perco) | 2% | 4% | 5% | 3% |
| Taxed bank books | 1% | 4% | 2% | 3% |
| None of these products | 18% | 27% | 27% | |
More cicadas and more ants
In a context of high inflation, unprecedented for 40 years, the Ipsos survey also notes a “polarization” of savings behavior: two very distinct blocks are tending to strengthen: those who, on the one hand, think that is better” spend and enjoy the present because we don’t know what the future holds (43%), and on the other, those who consider it necessary “to set aside and save just in case, or for the future (39%, knowing that this proportion is more significant among people with “significant” financial assets, of €50,000 and more: 56%).
Risk appetite is gaining ground, especially among young people
Regarding savings strategies, no major upheaval has been observed: less risky, less liquid and less profitable products are still the investments favored by the French, but the survey notes that riskier investments, which yield more, are gaining more and more ground, in particular among profiles “ who plan to save more in 2023 ” as well as among the youngest: 44% of those under 35 say they prefer products that bring in a lot of money but are not very liquid, compared to 34% for the average French person.