This document examines differences in retail financial services across the 27 EU countries. It finds that while financial product ownership is high overall, there are large country-by-country differences driven partly by economic factors. Consumer behavior also varies significantly, with Scandinavians and those in Western Europe more likely to shop around and buy products online, while consumers in Southern and Eastern Europe prefer face-to-face transactions and recommendations from providers. There is also a general culture of inertia where consumers are reluctant to switch providers or seek the best deals.
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