表紙
市場調查報告書

千禧新生代:銀行的機會

Millennials: Banking the Opportunity

出版商 GlobalData 商品編碼 841570
出版日期 內容資訊 英文 49 Pages
訂單完成後即時交付
價格
Back to Top
千禧新生代:銀行的機會 Millennials: Banking the Opportunity
出版日期: 2019年04月12日內容資訊: 英文 49 Pages
簡介

過去20年,千禧新生代 (別名,Y世代) ,在其規模、經濟力、社會文化的影響的點變得成熟。許多千禧新生代,熟悉自己的職業生涯,準備好利用投資和財務建議。

本報告提供金融服務商品相關千禧新生代的想法和行動調查分析,形成生活方式的主要原因和目標等相關的系統性資訊。

第1章 摘要整理

第2章 千禧新生代,零售銀行的重要的客戶

  • 定義人口統計上的機會
  • 千禧新生代,大半金融商品為指數以上
  • 其生活方式以生命活動為特徵

第3章 千禧新生代的想法和行動,保證特別關注

  • 千禧新生代,對擁有的商品表現中度滿足感
  • 千禧新生代,有效利用銀行商品的功能
  • 千禧新生代,在研究的選擇中相當典型

第4章 附錄

目錄
Product Code: FS0189IA

Also known as Generation Y, millennials are distinct from the surrounding generations based on their unique formative experiences, which include pronounced technological, economic, and social shifts. In the last two decades, millennials have matured in terms of their size, economic strength, and socio-cultural influence.

Many millennials are well into their careers and are ready to invest and use financial advice. Their current and imminent financial commitments - such as paying off tertiary education, and buying their first house or car - will fuel growth in the banking sector for the foreseeable future.

Understanding their lifestyles, goals, and behavior is key given their status as a fast-rising financial services market. The industry must respond with relevant strategies that leverage the shifts in banking behavior and seize the maturing opportunity.

The report "Millennials: Banking the Opportunity", explores the attitudes and behaviors millennials have with regards to their financial services products. It explores the major factors shaping their lifestyles and goals, and what this means for the financial services industry. Products covered in the report range from everyday current accounts to all forms of credit to investments.

Scope

  • Millennial penetration over-indexes in 14 of 21 financial holdings. This underscores the importance of targeting these consumers with products they value delivered in ways they prefer.
  • Millennials are more likely to experience a number of key life events in the coming years. Banks can capitalize on this with targeted products designed to facilitate these events or mitigate the disruption they cause.
  • Millennials still make safe and conformist choices about where to bank. They express moderate satisfaction with their product holdings, but there is a real interest in new (particularly digital) product features.

Reasons to buy

  • Gain insight into the purchasing path of millennial consumers.
  • Identify which financial products have already gained traction with the millennial segment and which are potential growth markets.
  • Assess which attitudes and behaviors of millennials truly set them apart from older segments, and which are merely the result of their younger age.

Table of Contents

1. EXECUTIVE SUMMARY

  • 1.1. Overview
  • 1.2. Key findings
  • 1.3. Critical success factors

2. MILLENNIALS ARE A KEY AUDIENCE FOR RETAIL BANKING

  • 2.1. Defining the demographic opportunity
    • 2.1.1. Millennials were born between 1983 and 1996
    • 2.1.2. Millennials have emerged as the largest living generation in many (but not all) nations
    • 2.1.3. Millennials are highly urbanized and more diverse than their predecessors
  • 2.2. Millennials over-index for the majority of financial products
    • 2.2.1. Financial product usage has increased among millennials as the cohort has matured
    • 2.2.2. Over 80% of millennials globally hold a current or savings account, making debit cards the primary financial product
    • 2.2.3. Over two thirds of millennials own a credit card
    • 2.2.4. Lifestage and generational circumstances have prompted a heightened need for loans
    • 2.2.5. Millennials have emerged as the most important generation-based mortgage market
    • 2.2.6. Under half of millennials have a pension at a time when day-to-day expenses take priority
    • 2.2.7. Millennials are important investors in spite of their day-to-day financial challenges
    • 2.2.8. A majority of millennials have adopted most insurance products
  • 2.3. Millennial lifestyles are characterized by life-defining events
    • 2.3.1. Millennials are more likely to be contemplating married life and starting a family
    • 2.3.2. Millennials represent the largest group of customers buying a house for the first time
    • 2.3.3. The fluid nature of millennials' lifestyles make relocation a desirable and doable option
    • 2.3.4. Generation- and lifestage-defining events are shaping millennials' financial goals
    • 2.3.5. Despite negative stereotypes, millennials are good at managing money

3. MILLENNIAL ATTITUDES AND ACTIONS WARRANT SPECIAL FOCUS

  • 3.1. Millennials express moderate satisfaction with their product holdings
    • 3.1.1. Millennials are more likely to be promoters than detractors for their major account holdings
    • 3.1.2. Millennials are typically ambivalent towards the mortgages and loans they hold
    • 3.1.3. Millennials rate their mobile banking experiences positively
  • 3.2. Millennials could be making better use of banking product features
    • 3.2.1. A wide range of financial management tools are desired but not widely used
  • 3.3. Millennials are pretty typical in their research choices
    • 3.3.1. Savings: Millennials want the best rate from a reputable brand offering friction-free banking
    • 3.3.2. Mortgages: Millennials are fixated on securing the best rate, ideally from a local bank brand
    • 3.3.3. Loans: The influences shaping loan choices are consistent for millennials and the total market
    • 3.3.4. Investments: Millennials' motivations are led by a desire for an immediate income stream

4. APPENDIX

  • 4.1. Abbreviations and acronym
    • 4.1.1. Definitions
  • 4.2. Methodology
    • 4.2.1. GlobalData's 2018 Retail Banking Insight Survey
  • 4.3. Secondary sources
  • 4.4. Further reading

List of Figures

  • Figure 1: GlobalData's age demographics view millennials as born between 1983 and 1996
  • Figure 2: Millennials have come of age in the last 20 years to assume greater economic strength and socio-cultural influence
  • Figure 3: At least half of global millennials hold eight of the 21 financial services products covered
  • Figure 4: Millennials' importance to retail banking is underscored by the strength and breadth of their product holdings relative to the general market
  • Figure 5: More than 80% of millennials globally hold a current or savings account
  • Figure 6: Card penetration among millennials varies notably across countries
  • Figure 7: Millennials are 1.26 times more likely than the general market to hold a personal loan
  • Figure 8: Card purchases and debt consolidation are key to millennials' need for a loan
  • Figure 9: Car dealerships are not commonly used for millennial lending in spite of vehicle purchases being such a key driver of borrowing
  • Figure 10: Just over a third of millennials globally have a residential mortgage on a primary residence
  • Figure 11: Just under half of millennials globally have a pension
  • Figure 12: Hong Kong millennials notably over-index in equity holdings
  • Figure 13: Four of the six insurance products have at least 50% penetration among millennials
  • Figure 14: Millennials' financial priorities are anchored by a number of key lifestage events as they adjust to a new phase of life
  • Figure 15: The US aside, millennials are far more likely than other generations to be expecting or preparing for a baby in the next two years
  • Figure 16: Marriage/civil partnership is more likely to be on the horizon for millennials than other generations
  • Figure 17: New Zealand millennials stand out for their desire to buy their first home imminently
  • Figure 18: Millennials are the most likely cohort to anticipate a job change within two years
  • Figure 19: Over a third of Generation Z and millennials anticipate moving home within the next two years
  • Figure 20: Millennials globally are most likely to be saving for a holiday, which highlights their inherent desire for new experiences
  • Figure 21: Millennials are subject to negative coverage and stereotyping in much of the media
  • Figure 22: Millennials are more buoyant about the future than other generations
  • Figure 23: Current account NPS reflects a positive, albeit largely unenthused, millennial customer base
  • Figure 24: US millennials are more effusive than their global counterparts towards their savings accounts
  • Figure 25: The NPS results for mortgages make for mixed reading
  • Figure 26: Like other product holdings, millennials from Hong Kong lead the negative sentiment towards the provider of their personal loan
  • Figure 27: Europeans are embracing mobile banking across a range of devices, especially smartphones and tablets
  • Figure 28: Millennials express high levels of satisfaction towards the mobile banking user experience
  • Figure 29: Millennials generally report low usage levels for financial management tools
  • Figure 30: The product attributes millennials seek from a current account are in line with the overall market
  • Figure 31: Interest rate, arrangement fees, and brand reputation drive millennials' choice of mortgage
  • Figure 32: Interest rate, simplicity, and existing relationships drive millennials' choice of loan provider
  • Figure 33: Millennial investments are primarily driven by a desire for an immediate income stream
  • Figure 34: Markets covered in the 2018 Retail Banking Insight Survey
Back to Top