An Exploratory Study on Social Media Influence on Investment Decisions of Individuals from the Indian Context

Social media now plays an increasingly significant role in influencing people’s financial decisions. Social media played a significant influence in decision-making because of its broad audience and quick access to information on investments. Investment experts use social media as a platform to spread investment-related information. In certain ways, social media has significantly impacted investment decisions with its perceived benefits whereas there are certain perceived risks also involved such as cybersecurity issues, unauthorized information, and potential scams. Hence the study was conducted to analyze the influence of social media on an individual’s investing choices in the Indian setting. The study was conducted by collecting samples from 100 respondents. The primary data was gatheredusing a convenient sampling method through structured questionnaires. It was shown that social media and its influence on financial choices are significantly correlated. It was understood that the users of social media have investment-related benefits from it such as global reach, information from investment experts, and accessibility.