Consumers tap credit cards, loans to manage inflation: Fed report
Payments Dive
AUGUST 26, 2024
Gen Z and millennials were the age groups most likely to use loans and credit cards to respond to higher prices, a Federal Reserve research report said.
Groups Management Millennials 
By 2030 Millennials Will Have $20 Trillion In Wealth. Here’s What They Want In Robo-Advisors
Bank Innovation
JULY 27, 2018
Millennials are expected to have $20 trillion in wealth by 2030, according to a July 2018 CB Insights study. Marketing investment options and robo-advisors to this mobile-centric group will require a specific strategy. Currently, millennials’ combined financial assets come up to $4.5 trillion in wealth.
Millennials 
277
277 Join 23,000+
Insiders
Sign Up for our Newsletter
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
Trending Sources
AI/BOTS: AI Bank Tech And Millennials
PYMNTS
AUGUST 23, 2017
Having a malleable thought process when it comes to transforming an industry is something that banks will probably need in order to capture one of the arguably most influential up-and-coming group of consumers in the United States. Census, shared that the number of millennials (75.4 million) had surpassed that of baby boomers (74.9
Millennials 196
196 
Number Of Millennial Households Expected To Soar Over Next 10 Years
PYMNTS
JUNE 29, 2016
A lot of millennials are still living at home with their parents, but as more and more of them begin moving out in the coming years, they could have a significant impact on both the housing and rental markets. So what will fuel this significant growth in new millennial households? That number hit 21.3
Millennials 186
186 
One-fifth of consumers consider BNPL to stretch holiday budgets: survey
Payments Dive
OCTOBER 3, 2023
Millennials are the most willing age group to consider BNPL to manage holiday spending amid rising prices, according to a Square and Afterpay report.
Survey 243
243 
Millennials Are Facing Their Second ‘Once-in-a-Lifetime’ Financial Crash
PYMNTS
MAY 26, 2020
The data on millennials’ lifetime earnings potential were already fairly grim long before the word “coronavirus” became part of everyone’s daily conversations – and before the U.S. A 2016 paper led by Stanford University Economist Raj Chetty found that millennials were in deeper economic trouble than a quick look at the U.S.
Millennials 153
153 
Banks should know these 5 Traits of Millennial business owners
Abrigo
AUGUST 1, 2016
Everywhere you look, it seems, there are articles about Millennials: Millennial workers, Millennial customers, Millennial homeowners, Millennial voters. No doubt the group, which this year surpassed baby boomers as the largest segment of the U.S. population, will be important for bankers to understand.
Millennials 150
150 
The Complexities Of Wooing Bridge Millennials
PYMNTS
OCTOBER 5, 2018
Crew, however, is not content to go down without a fight – and now under new management the brand has been making big changes as it tries to hit the reset button. The stated goal, according to new CEO Jim Brett – is for the brand to build back its audience particularly among millennial shoppers. You can’t be one price.
Millennials 128
128 
The Retail Complexities Of Wooing Bridge Millennials
PYMNTS
OCTOBER 5, 2018
Now under new management, the brand has been making big changes as it tries to hit the reset button. The stated goal, according to new CEO Jim Brett, is for the brand to build back its audience, particularly among millennial shoppers. J.Crew , however, is not content to go down without a fight. You can’t be one price.
Millennials 122
122 
Millennials Spend Less While On Business Trips
PYMNTS
AUGUST 23, 2017
Millennials get a bad rap for everything from being unable to commit to a job to jeopardizing the cereal market. But, here’s a bit of good news coming out of travel and expense management company Concur: Businesses that have millennials in their workforces may actually save money — at least when it comes to business travel.
Millennials 111
111 
OAK + FORT: Flexible-Payment Plans Boost Luxury Purchases
PYMNTS
SEPTEMBER 30, 2020
Luxury retailers are also targeting millennial and Generation Z consumers to expand their customer bases, with one report showing that millennials accounted for 35 percent of high-end retail purchases, for example. Australia-based installment payment provider Afterpay , for example, has seen its revenues hit $3.8 About The Tracker .
Payments 279
279 
Debit Beats Credit With Bridge Millennials
PYMNTS
FEBRUARY 4, 2020
Older “ bridge millennials ” led the way when it comes to living within one’s means by showing a clear preference for debit products. Emerging trends in debit usage reveal lines of demarcation between various consumer groups and generational cohorts, along with deeply held beliefs about money that are just now coming into focus.
Millennials 131
131 
Baby Boomers Vs. Millennials: Home Renovations Edition
PYMNTS
MARCH 7, 2017
Recently Harvard University’s Joint Center for Housing Studies conducted a study titled Improving America’s Housing 2017: Demographic Change and The Remodeling Outlook that looked at the various types of home renovations and which of those are more popular among different age groups.
Millennials 109
109 
Wall Street Investors Place Their Bets On Millennials
PYMNTS
APRIL 24, 2018
When it comes to stock market picks, Wall Street investors are placing their bets on the buying power of the millennial generation. With that in mind, John Khoury, founder and managing partner of the $2.7 Horton, which he believes should get a boost as more millennials become first-time homebuyers. homebuilder D.R. In fact, D.R.
Millennials 100
100 
Millennial Entrepreneurs’ Optimism Is Booming — Here’s Their Top Concern
PYMNTS
OCTOBER 30, 2017
As millennials continue to grow their presence in the small business (SMB) community, the dynamics of SMB finance are also changing. According to some experts , millennial small business owners no longer accept mediocre or sub-par services from their financial providers.
Millennials 109
109 
Millennials Shun Credit Cards After Getting Denied
PYMNTS
OCTOBER 27, 2016
ID Analytics, a consumer risk management company, announced Wednesday (Oct. 26) new research that revealed over six out of 10 millennials declined for credit are not seen applying again for at least 12 months. A frequently referenced Bankrate.com study reported that 63 percent of millennials do not have a credit card.
Millennials 100
100 A Day In The Life Of The Bridge Millennial
PYMNTS
NOVEMBER 1, 2019
As in past reports, we collected data from consumers of all ages, incomes and shopping habits, but there were two groups in particular whose behavior caught our attention this year: bridge millennials and super-connected consumers. Bridge millennials are a bit different, however. Bridge millennials engage in 14.1
Millennials 101
101 A Day In The Life Of The Bridge Millennial
PYMNTS
NOVEMBER 1, 2019
As in past reports, we collected data from consumers of all ages, incomes and shopping habits, but there were two groups in particular whose behavior caught our attention this year: bridge millennials and super-connected consumers. Bridge millennials are a bit different, however. Bridge millennials engage in 14.1
Millennials 100
100 The Coming Millennial FinTech Crisis
PYMNTS
DECEMBER 19, 2016
While they enjoy many FinTech innovations, most millennials don’t have a snowball’s chance of earning more than their parents — ever. It’s one thing for the millennial offspring of the billionaire hedge-fund scions to fall short of making a billion because they only manage to pull down $760 million a year. It’s a fact.
Millennials 100
100 
4 Ways to Reach Aging Consumers About COVID-19 and Vaccines
Perficient
FEBRUARY 10, 2021
While the Centers for Disease Control and Prevention(CDC ) recommends healthcare consumers over 65 get vaccinated, few communications have targeted these groups or provided understanding and navigation to how to access the vaccine in their community. Help caregivers help their loved ones access COVID-19 vaccinations.
New York City 484
484 
Millennials Are Buying More Gift Cards Than Ever — For Themselves
PYMNTS
SEPTEMBER 8, 2016
Maybe millennials really are a self-centered bunch? Mercator Advisory Group surveyed 3,009 U.S. Still, Mercator Advisory Group did note that the number of men purchasing retailer-specific gift cards has “grown steadily” since the firm began tracking the number in 2013.
Millennials 100
100 
Why Visa Is Starting A Conversation About Millennial Females and Money
PYMNTS
JULY 13, 2018
It has made the millennial generation of women — either entering or settling into their prime spending years — something of a unique class of citizens when it comes to financial services. Millennial women are evolving into very [a] different relationship with money,” said Reilly. I think we are at a tipping point.
Millennials 111
111 
Weddings, The Millennial Way? There’s A Marketplace For That
PYMNTS
AUGUST 6, 2019
Courtesy of the relationship and romance experts at PYMNTS, here is one of the few obvious statements that still manages to convey deep and eternal wisdom: Weddings are not for the fainthearted. All this new revenue is going from the cities where most millennials live to the countryside,” he said. An Idea is Born.
Millennials 120
120 
Number Of Millennial Households Expected To Soar Over Next 10 Years
PYMNTS
JUNE 29, 2016
A lot of millennials are still living at home with their parents, but as more and more of them begin moving out in the coming years, they could have a significant impact on both the housing and rental markets. So what will fuel this significant growth in new millennial households? That number hit 21.3
Millennials 101
101 
BJ’s On The Block, Amex’s Millennial Problem And Another Big Breach
PYMNTS
APRIL 24, 2017
The long-suffering team at American Express has a new headache to handle — losing the love of those millennial customers. And hackers have managed to hit about 1,200 InterContinental Hotel locations in the U.S. — InterContinental Hotel Group, the U.K.-based and yes, this looks like card data breach. Ready to jump in?
Millennials 109
109 
What The Trendsetters Say About How We Will Pay Next Decade
PYMNTS
SEPTEMBER 16, 2019
In the payments ecosystem, we need look no further than the bridge millennial for how the connected purchasing experience will evolve over the next decade. The group’s connected commerce behaviors are well-documented in the annual PYMNTS/Visa How We Will Pay 2019 study released just today. This group of 60 million U.S.
Millennials 222
222 Vantiv Finds Millennial And Boomer Expectations Meet On Mobile
PYMNTS
APRIL 26, 2017
Living up to consumer expectations is difficult work these days for many reasons, not the least of which is that consumers are a fairly heterogeneous group of people with widely varying expectations. There has been a shift in behavior, and as the technology evolves to support it, millennials and boomers alike are keeping up with that.”.
Millennials 118
118 
Chime On Millennials And Mobile Banking – Will The Love Last?
PYMNTS
JUNE 15, 2016
When you talk to the co-founder and CEO of a mobile-first digital bank account offering, you are likely to hear that millennials, to put it lightly, are not fond of big banks. Whether it’s Chime or other apps, millennials are increasingly turning to their mobile devices to keep track of their financial health.
Millennials 100
100 
Zoku Sushi: Ghost Kitchens Are Key To Winning The Delivery Wars
PYMNTS
FEBRUARY 18, 2020
based QSRs draw millennials consumers, with half of this age group reporting that they place more deliveries now than they did two years ago. Deep Dive: Cloud Inventory Management Can Ease Back-Of-House Woes. Inventory management is particularly challenging in the food industry. A strong delivery strategy can help U.S.-based
Millennials 232
232 
NEW DATA: Gas Apps And The $22B Opportunity For C-Stores
PYMNTS
NOVEMBER 20, 2018
Bridge Millennials, a highly influential group of consumer bellwethers, agree that convenience is key for mobile app adoption. The report includes a Deep Dive into how Bridge Millennials are using mobile apps and outlines the experiences that could accelerate adoption among this group.
Millennials 177
177 
Matchmaking Millennials To The Experiences They Desire
PYMNTS
MARCH 8, 2017
While millennials aspire to seek out meaningful experiences, they don’t necessarily have the spending power that enables them to do so. While on the other side of the coin, there are millennials who like to go out in groups, with budgets that may be more restricted but with time to go out more frequently.
Millennials 101
101 
The Great Subscription Race: How Walmart+ Stacks Up Against Amazon Prime
PYMNTS
NOVEMBER 17, 2020
It’s just that management didn’t have much in the way of hard figures or any big announcements about new additions to the platform. Moreover, demographics seem to make something of a difference in subscription enthusiasm, particularly among the highly coveted “bridge millennial” demographic. 17) were doubtless a little disappointed.
Millennials 190
190 
Meeting Diversifying Wealth Management Needs in 2021
PopularBank
FEBRUARY 19, 2021
As we look to the year ahead, diversifying wealth management needs and client expectations continue to challenge financial consultants and advisors. The Great Wealth Transfer will continue to drive diversifying wealth management needs in 2021. By 2030, this group will be in control of more than $15 trillion of inherited wealth.
Meeting 98
98 Are you giving millennials what they want?
NCR
JULY 7, 2017
All banks are aware of the importance of catering to the needs of the millennial generation. But developing a clear idea of what a certain group of customers want, and then coming up with strategies to meet these expectations, is by no means an easy task. He told Venture Beat : “[Millennials] just want to live their lives.
Millennials 75
75 New Data: U.S. Consumers And The ‘Everyday App’
PYMNTS
AUGUST 9, 2019
Nor is interest in everyday apps exclusive to any particular age group. These two groups were the second- and first-most likely age groups to express interest in using everyday apps, respectively. These two groups were the second- and first-most likely age groups to express interest in using everyday apps, respectively.
Data 155
155 Look To Gen Z For More Retail Trend-Setting
PYMNTS
AUGUST 28, 2019
Forget millennials – well, at least for a moment. The items are sold in small quantities to catch the interest of Generation Z and millennial consumers who aren’t interested in buying in bulk. This group is also big on conversations, both online and offline: Engagement Labs finds that they drive 19 percent of purchases.
Retail 148
148 
How Much Can Technology Improve Healthcare Payments?
PYMNTS
MAY 25, 2018
Touted by observers and industry players as one of the top trends that could impact medical billing and data management for 2018, the technology is increasingly being viewed as part of the path to better efficiency in payments. Among the latest hopes for healthcare payments is blockchain.
Technology 166
166 
Key Areas Of SMB Finance Show Need For Improvement
PYMNTS
OCTOBER 8, 2018
The statistic , released from Mercator Advisory Group in its report, “Business Credit Cards and B2B Payments: Opportunity to Improve Market Penetration,” found millennial small-business owners are less likely than their older peers to use a business credit card, and more likely to use their personal card for business spend.
Millennials 197
197 From Investing To Budgeting, How Millennials Are Disrupting Personal Finance
CB Insights
SEPTEMBER 10, 2019
While the media often portrays millennials as preoccupied with the rising prices of festival tickets and avocado toast, their real financial concerns are a bit more practical. Download the free report to find out how fintech is shaping the future of wealth management and investing. get the REPORT on next generation investors.
Millennials 77
77 
Walmart+ And Amazon Prime Face Off As Consumers Decide Who Gets Their Business
PYMNTS
NOVEMBER 2, 2020
consumer seems happy to test the waters — and none more so than the coveted bridge millennials. According to PYMNTS survey data, nearly three times as many bridge millennials are Amazon Prime members as Walmart+ members. But three in 10 bridge millennials already report having both, just a month in. Those are the 47 million U.S.
Millennials 246
246 
Ace Is The Place With The Helpful Omnichannel Strategy
PYMNTS
MARCH 13, 2020
Recent data shows that while millennial and Generation Z consumer groups certainly consider themselves to be digital shoppers — nearly 86 percent of millennials consider that to be the case, according to one recent report — large percentages of them still head to physical stores on a regular basis to shop.
Strategy 179
179 
Your Guide to Healthcare Personas
Perficient
JULY 20, 2020
Chronic Condition (perhaps managing diabetes). Personas generally originate with marketing because that group owns “voice of the consumer.” When different groups are at odds about next steps, all involved should take a step back and ask: What does [insert name of persona here] need? Perhaps: Unengaged Young Millenial.
UX 332
332 
Corporate T&E Adjusts To The ‘Bleisure’ Wave: Rydoo
PYMNTS
SEPTEMBER 18, 2018
The changes that tech-savvy workers have imposed on their employers’ travel and expense (T&E) policies and strategies go beyond adoption of expense management FinTech solutions, too. The Pew Research Center found millennials are already the largest generation group in the U.S. They are digital,” said Bogaert.
Millennials 138
138 Open Banking Will Bank On Customer Service To Boost Traction With SMBs: Accenture
PYMNTS
DECEMBER 27, 2018
Open banking, bank APIs and data sharing flourished in 2018, with small business and corporate financial services squarely in the path of this financial services trend as banks and FinTechs consider new ways to enhance business payments, accounting, treasury and financial management.
Let's personalize your content