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.
Buy Now Pay Later: Why Millennials and Gen Zs are crazy for split payment options
Payments Dive
FEBRUARY 5, 2021
Buy Now and Pay Later has become a trend during 2020 and looks like, given the appeal it has for Millennials and Gen Z's it will be part of the payments industry in the future. Chaim Lever, co-founder of Four, a split-payment platform, shares his thoughts on why especially these two groups prefer to buy now and pay later.
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Millennial Marketshare: How Financial Institutions Can Grab an Unfair Advantage
Payments Dive
SEPTEMBER 15, 2020
Born between 1981 and 1996 and numbering over 75 million, millennials have become the largest demographic group in the US, according to the Brookings Institution.
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Report: Millennials, Buy Now Pay Later And The Shifting Dynamics Of Online Credit
PYMNTS
DECEMBER 10, 2020
It has been suggested that millennials are averse to having and using credit cards. Millennials are in fact as likely as other generations to have credit cards, with nearly nine out of 10 having at least one card, according to PYMNTS’ latest research. percent of bridge millennials have used BNPL, close to double the average.
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How to Attract Multiple Generations to Open New Accounts and Apply for Loans
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How are Gen X, Millennials, and Gen Z defined? What makes the group different in how they receive information? This entertaining and informative eBook will help your financial institution uncover the best practices when it comes to appealing to mass audiences.
Millennials SME Owners Prefer Online Alternative Lenders to Tradtional Ones
Bank Innovation
FEBRUARY 19, 2018
small businesses, specifically and unsurprisingly with those run by millennials, according to a new report by Mercator Advisory Group. According to Mercator’s report, Business Banking Services: Keeping Up with Millennial Owners, 27% of total U.S. Online alternative lenders are gaining momentum with U.S.
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303 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.
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Built For Speed: Millennials Drive Move To Faster Payments
PYMNTS
NOVEMBER 5, 2020
As to who’s getting instant payments and where they are getting those payments from, it’s the bridge millennials, the younger generations, right on down to Generation Z. And the data show that millennials and Gen Z are among those cohorts most likely to have received instant payments. percent of millennials. And with 25.8
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Serving The Millennial Consumer With Convenient Offerings
PYMNTS
FEBRUARY 11, 2020
Reynolds Group Holdings is actively working to court the millennial market , which has a particularly strong focus on convenience. For this reason, the firm has focused keenly on recipe integration in recent years — and, as it turns out, millennials are excellent recipe followers. All this, Today in Data.
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Deep Dive: Keeping Up With Bridge Millennials’ Retail Impact
PYMNTS
DECEMBER 10, 2019
Bridge millennials’ rise is changing the retail ecosystem ahead of the 2019 holiday season, but their impacts will continue to be felt in the year ahead. Bridge millennials are consumers aged 30 to 40 whose shopping and financial preferences straddle Gen X and millennial demographics.
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Survey Finds Financial Stress High Among Millennials, Gen Z
PYMNTS
JUNE 25, 2020
While younger people in the millennial and Gen Z age groups report high levels of stress in a recent survey, the COVID-19 pandemic is not necessarily the main reason for that, CNBC reports. That decline was matched by Gen Z respondents. But finances are a particular point of concern for both generations.
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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.
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Deep Dive: Travel, Hospitality Get A Millennial Makeover
PYMNTS
JANUARY 13, 2020
Millennials have long been sought-after travel and hospitality customers, partly because they are perfectly placed to seek such experiences. This unique status creates both opportunities and challenges for firms in the space, as millennials search for the experiences they crave. Furthermore, millennials are set to spend $1.4
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154 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
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Reynolds CEO: Recreating Grocery’s Home Goods Aisle For The Millennial
PYMNTS
FEBRUARY 10, 2020
In 1947, Reynolds Group Holdings began mass manufacturing it for home use. Reynolds (the founder of Reynolds Group Holdings) believed that aluminum foil for home cooking was on the verge of being a big business. Moving On Millennials . However, the focus among millennials is particularly strong. Bracing For The Shift.
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Accounts Of Millennial Sobriety May Be Oversold
PYMNTS
APRIL 9, 2019
Have millennials started starving a segment of commerce in a socially positive way? Added to the list of things millennials are killing — along with homeownership, the institution of marriage and diamond jewelry — is apparently alcohol. Folks in the millennial generation have maybe a better sense of balance. Data from U.S.
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Citizens Financial Group Launches Neobank Citizens Access
Bank Innovation
JULY 11, 2018
Citizens Financial Group joins the latest band of established FIs in launching its version of a digital-first bank called Citizens Access.
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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.
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Can Millennials Revive Call Center Commerce?
PYMNTS
APRIL 22, 2019
Millennials have long borne the blame for a variety of problems in commerce, including the decline in popularity of diamonds and certain fast casual restaurants. Millennials could be helping to bring new life to call center commerce. Millennials are increasingly seeking access to luxury goods — including relatively affordable items.
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What Hath Bridge Millennials Wrought To Commerce And Payments?
PYMNTS
DECEMBER 28, 2018
The new year will bring a new round of one of the hottest games in the payments-and-commerce world: What makes millennials tick? Census, millennials are 25 to 34 years old. The reason for that is because data shows a significant difference in payments and commerce between this segment and the Census view of millennials.
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How We Will Pay, Brief 1: Bridge Millennials, Superconnecteds Lead In Digital-First Living
PYMNTS
DECEMBER 8, 2020
How We Will Pay , a PYMNTS and Visa collaboration, surveyed a census-balanced sample of nearly 9,600 consumers on how they browse and shop for groceries and other goods, and found while the pandemic affects everyone, “no one has changed quite as much as the two most connected consumer groups of all: bridge millennials and superconnected consumers.”.
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New Study by Project Catalyst Uncovers Millennials’ Use of Mobile Wallets
Bank Innovation
JUNE 27, 2016
Phoenix, AZ – June 27, 2016 – Millennials are driving innovation in the fintech space and many traditional financial institution applications miss the mark with the younger generations, leaving them.
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FTC: Millennials Report Losing $71M To eCommerce Fraud In Two Years
PYMNTS
OCTOBER 1, 2019
A new report by the Federal Trade Commission (FTC) has revealed that millennials are 25 percent more likely to report losing money to fraud than consumers ages 40 and over. The top five frauds to which millennials report losing money are online shopping frauds, business imposters, government imposters, fake check scams and romance scams.
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The Complexities Of Wooing Bridge Millennials
PYMNTS
OCTOBER 5, 2018
The stated goal, according to new CEO Jim Brett – is for the brand to build back its audience particularly among millennial shoppers. And as Karen Webster noted in a commentary on the rise of the Bridge Millennials – and what it will mean – merchants are not wrong to be a little obsessed with this group of consumers. “We
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Retail Feels The Wide Impact Of Bridge Millennials
PYMNTS
SEPTEMBER 18, 2019
Among the forces working to influence and change retail — and do so into the 2019 holiday shopping season, as well as the 2020s — is the rise of bridge millennials. Having had the time to establish their careers, they enjoy higher spending power than younger millennials, who are just now dipping their toes into the professional world.
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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
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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
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The Retail Complexities Of Wooing Bridge Millennials
PYMNTS
OCTOBER 5, 2018
The stated goal, according to new CEO Jim Brett, is for the brand to build back its audience, particularly among millennial shoppers. And, as Karen Webster noted in a commentary on the rise of the bridge millennials – and what it will mean – merchants are not wrong to be a little obsessed with this group of consumers. “We
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Silicon Valley Is Losing Its Luster With Millennials
PYMNTS
APRIL 18, 2019
Silicon Valley is losing its luster with young adults, as recent polling shows millennials are gearing up to leave the San Francisco area at an increased rate. The survey also showed the area could become less diverse, with African Americans the leading ethnic groups that signaled they would leave the Bay Area.
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How Millennials are Impacting the Housing Market
SWBC's LenderHub
MARCH 12, 2020
In the past ten years, the country has made great strides towards economic recovery, and many millennials who entered the job and housing markets during the downturn have had a chance to pay down their student loan debt and advance in their careers, which means that they finally feel confident about owning a home.
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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.
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131 Millennials Impacted By Fraud More Than Older Consumers
PYMNTS
OCTOBER 1, 2019
A new report by the Federal Trade Commission (FTC) has revealed that millennials are 25 percent more likely to report losing money to fraud than consumers ages 40 and over. The top five frauds to which millennials report losing money are online shopping frauds, business imposters, government imposters, fake check scams and romance scams.
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Deep Dive: How Bridge Millennials Are Reinventing The Gas Run
PYMNTS
AUGUST 2, 2018
Driving this change is a group of more-connected consumers with higher expectations of what they want from their shopping experiences. Among the most influential drivers of retail change is a subset of consumers PYMNTS identifies as “ Bridge Millennials.” Technology is an essential element of Bridge Millennials’ shopping processes.
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Baby Boomers vs. Millennials: Which Generation Has More Entrepreneurs?
PYMNTS
MAY 10, 2017
The millennial generation is often viewed as the entitled group of youngsters that believe everyone should get a participation trophy, while baby boomers are typically seen as more of a “pull yourself up by your own bootstraps” kind of generation. What makes this even worse is that millennial unemployment is an astounding 11.5
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Millennials, Mobile Payments And Debit: A Recipe For Consumer Engagement
PYMNTS
SEPTEMBER 11, 2018
Millennial consumers are ready to be brand ambassadors — especially when engaging in mobile commerce with private-label debit programs. The interview with Bailey comes amid increasing focus on how millennials might change gas and convenience store payments. Or targeting apps at a particular group of consumers who are on the rise?
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126 Why Millennials Want To Crowdfund Their Mortgage Down Payments
PYMNTS
JULY 17, 2018
When one tries to Google the phrase “millennials and mortgages,” something curious happens. Two different – and in some cases, mutually exclusive sounding – accounts of millennials and their home-buying habits, or lack thereof, emerge. Millennials are shaping the market more than anyone realized.
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131 What 2019 Will Mean for Millennial Commerce and Payments
PYMNTS
DECEMBER 27, 2018
The new year will bring a new round of one of the hottest games in the payments-and-commerce world: What Makes Millennials Tick? Among the most influential drivers of retail change is a subset of consumers PYMNTS identifies as “ Bridge Millennials.” Take those bridge millennials. Retail Response. And retailers are taking note.
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100 Why Retailers Should Stop Focusing On Millennials
PYMNTS
MARCH 16, 2018
With marketers clamoring to attract the fleeting attention of millennial and Gen Z shoppers, the older demographic (roughly between the ages of 53 and 71) is often overlooked. Marshal Cohen, chief industry analyst for the NPD Group, told USA Today that advertisers are mistaken to put all their eggs in the millennial basket.
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108 Can Millennials Drive Mobile Payments For Gas?
PYMNTS
AUGUST 15, 2018
43 percent : That is the amount of high-income millennials who said they would be more likely to visit a gas station if its app offered them convenience, loyalty and savings. Or targeting apps at a particular group of consumers who are on the rise? Part of the reason is worry about the security of using mobile apps for gas purchases.
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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.
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Deep Dive: Bridge Millennials And The C-Store Experience
PYMNTS
NOVEMBER 27, 2018
Convenience store operators would be wise to pay close attention to the purchasing habits of a certain subset of consumer: the Bridge Millennial — the first generation of connected consumers with spending power. Building A Better Bridge Millennial Gas App. For C-Stores, An Opportunity To Woo Bridge Millennials.
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Building Bridges To Emerging Consumer Groups
PYMNTS
MAY 10, 2018
Demographic groupings make sense. They offer insight into what consumers are buying so pitches can be customized, helping to avoid unnecessarily selling apparel and accessories to demographic groups that don’t buy them. 30 percent: The share of “bridge millennials” who have tried a new merchant in the last month.
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Millennials and Mortgages
SWBC's LenderHub
AUGUST 15, 2019
In February 2019, Realtor.com released their 2018 Generational Propensity Report which outlined homebuying trends based on generational groups. Here are the biggest takeaways: Millennials passed Generation X as the group taking on the most new mortgages in January 2017.
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With Home Equity Lacking, Will Millennials Embrace POS Financing?
PYMNTS
APRIL 5, 2019
Against this backdrop, we find, then, that millennials do not embrace credit cards as readily as other groups of users. Bankrate has estimated that roughly 33 percent of millennials have cards. FinTechs have been stepping in to feed demand for installment loans. Square late last year introduced an installment plan offering.
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