Millennials Pivot Toward Homeownership; Economic Ripple Effects Still Unknown

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It was only a few short years ago that the conventional wisdom was that millennials were shaping up to be slower entering the homebuying market than their Gen X siblings and baby boomer parents. Millennials are no longer holding back when it comes to homeownership.

FinTech Bridges Millennial Investing Gap

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To move toward retirement, and to have the money in place to get there, millennials need to make the leap from bare bones banking — checking and savings — into investing. Statistics, he said, show that three out of five millennials don’t invest at all, opting instead to stay on the sidelines.

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Who needs millennials?

Chris Skinner

I have had many, many conversations about reaching the millennial customer. We need to be attractive to millennials? Millennials think differently, how do we reach them? Millennials are rejecting banks, is that right? The conversation seems to be one amongst older generational people who haven’t realised that the millennials is now their CFO, CEO, CDO and, in some cases, CEO. The challenge today is to think like a Millennial.

Beauty Market Ruled By Female Millennials

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A lady may never reveal her age, but the beauty market can likely brag about its appeal with younger generations. More and more, the beauty industry has become ruled by millennials , women between the ages of 18 and 34 being the main buyers, according to a survey by TABS Analytics. Millennials were found to be most likely to buy items in person from big-box retail stores. Retail beauty Beauty Market Millennials Women

Digital Banking, Millennially Mobile

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16 percent: Estimated CAGR of the global digital banking market through 2024. 72 percent: Share of bridge millennials who think mobile apps are important for accessing bank accounts. trillion: Size of the installment market as measured in 2017. Today In Data banking apps Digital Banking Millennials mobile banking News Today in DataBanking has gone beyond the branch, and financial services are increasingly rendered in bits and bytes.

Creating an Effective Financial Services Marketing Strategy for Millennials

Bank Innovation

On the surface, a financial services marketing strategy is not completely different than a marketing strategy for any other industry. A financial services marketing strategy must be more rigorous and well-thought-out in order to be successful. Mobile Online Payments Retail Sales & Marketing Sponsored Everfi GoogleThe crucial difference, though, is the higher and more demanding standard that financial services have from their customers.

Millennials Dump Tesla Stock

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Millennials have been unloading Tesla shares a week before the company revealed disappointing Q1 delivery numbers. The company’s Q1 report sent shares falling by more than 8 percent on Thursday (April 4), according to Markets Insider. Within the past week, a net 5,600 accounts on trading app Robinhood , which is popular with millennials, left their Tesla position, with the number of accounts holding the automaker’s shares falling by more than 4 percent.

Millennials’ Mobile Banking Usage Is Now Close to 70%

Bank Innovation

” For Millennials, the cry might as well be, “I want my mobile banking.” ” About 67% of Millennials now use mobile banking, according to a study released today by the Federal Reserve. Cards Commerce Marketing Mobile Online PFM Retail Technology demographics Federal Reserve millennials mobile research mobile usage research usageFor Gen Y, the rallying cry was, “I want my MTV.”

The Millennial Real Estate Boom Beckons?

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In addition, according to the study, affordability will be key, which will be a benefit for mid-sized markets. The market is still years away from reaching an adequate supply of homes to meet today’s demand from buyers. Demand will be robust, the report said, and with low rates, rising rents and “the ever-expending Millennial population” all contributing to that demand. Real Estate Editors' Picks housing market Millennials mortgages News real estate

Capturing the millennial market means mastering ATMs

Payments Source

Millennials view the ATM as central to how they manage their money and go about their daily lives, writes Yonas Marcos, president and CEO of Star Financial Services. ISO and agent Millennials ATMs Online payments Cash Retailers

Slice Integrates No-Fee Visa For Millennial Shoppers In India

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India’s pay-later app Slice is introducing a no-fee Visa card that offers its Gen Z and millennial customers cash back and no-cost EMIs during festive sales. “We Payments startup Slice was founded in 2016 to cater to the financial needs of the Gen Z and millennial generations. Slice is an exciting young proposition that is well suited to the millennial consumer’s credit and payment needs. Payment Methods credit india Millennials News Slice What's Hot

By 2030 Millennials Will Have $20 Trillion In Wealth. Here’s What They Want In Robo-Advisors

Bank Innovation

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 Factoring in for organic savings growth, market “impact,” and wealth […].

Franklin Templeton Teams Up With Razer To Woo Millennial Investors

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trillion global investment giant founded in the 1940s and named after Benjamin Franklin is teaming up with upstart Razer Fintech to create a digital wealth management platform targeted at millennials and young investors.

The Rapid Rise of Mobile Marketing Trends in Millennial Consumers

Bank Innovation

The face of banking and financial education has changed how we market in the course of a few short years. Digital media usage has nearly tripled since 2010, with the prevalence of smartphones responsible for more than 90% of this growth. Smartphones have become the device of choice for well over half of digital media […]. Mobile Online Retail Sponsored Everfi

Accounts Of Millennial Sobriety May Be Oversold

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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. Many of the soberish millennials interview for the article, for example, noted that they had substituted the use of cannabis for the use of alcohol. Folks in the millennial generation have maybe a better sense of balance.

5 Keys to Effective Financial Content Marketing

Bank Innovation

Many financial institutions—especially small, community-focused ones—have limited marketing budgets. Today we’re discussing five keys to effective financial content marketing that can help your institution get plenty of bang for its buck. Invest in mobility Any millennial will […]. Newswire Online Retail Sales & Marketing Social Media Sponsored brand marketing Gen Z millennial customers

Millennial-Focused Digital Bank Empower Finance Raises $20M

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San Francisco-based Empower Finance, a mobile banking app aimed at helping millennials save wealth, has raised $20 million in a Series A funding round led by Defy Ventures and Icon Ventures, according to a report. The opportunity is large in the sector, as digital banks represent only about 3 percent of the overall market. If you look at [the market] from the outside, it looks crowded.

Want To Reach Millennials? Embrace Digital Creativity

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Is there a secret sauce for merchants to capture the evolving millennial? One formula that offers engaging consumer experiences, and doesn’t insult the intelligence of millennials, is a combination of private-label debit and rewards or loyalty programs. Millennials are the real drivers of adoption when it comes to mobile payments and rewards programs in general,” she said, “and more and more of our merchant partners are looking to us” to make those connections with consumers.

Are Millennials Really Killing Canned Tuna, Too?

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The millennial path of destruction allegedly continues, with those young consumers now taking blame for the decline in the popularity of canned tuna — a product that joins a casualty list that already includes diamonds and restaurants such as Applebee’s. Pretty soon, one suspects, millennials will be blamed for not keeping alive the Velvet Elvis industry , letting another part of treasured Americana die off.). percent of the market, up from 3.7

How To Pay The Millennial Workforce

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Over the past two years, demand for mobile and digital P2P payments has risen notably (to the point that many FIs now consider such services a must-have), said Fiserv ’s Jeff McCrory, director of product marketing. In this month’s feature story, Lee explained how these instant payment apps are fast becoming table stakes for recruiting and retaining employees — millennial and Gen Z workers in particular.

Why Millennials And Gen Z Could Save 2020's Holiday Shopping Season

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We see millennial and Gen Z customers absolutely shopping, and the brands that deeply understand them are growing at faster rates than they have ever grown before,” Molnar said.

Reaching Millennial Travelers With Payments Technology

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Some millennials, in one case, would abandon travel booking processes if their preferred payment method was not offered. millennials who pay for hotels with debit cards or cash. 50%: Projected share of millennial spend in the personal luxury market by 2025. 20%: Portion of all global travelers comprised of millennials. 1.4T: Collective amount millennials are set to spend on travel annually.

Millennials Spend Less While On Business Trips

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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 spend, on average, 18 percent less than employees aged 36 to 65 on dining and entertainment, but spend on meals is a bit more similar.

Serving The Millennial Consumer With Convenient Offerings

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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. And in travel, Roost , which aims to match travelers with roommates to save on hotel rooms, counts millennials and Gen Zers in its target market through its digital platform.

AI-Powered Visual Shopping Experiences For Millennials, Gen Z

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Retailers looking to engage tech-savvy millennials and Gen Z consumers are quickly doubling down on their efforts to offer more visual content and enhance the discoverability of their products and services. Lihi Pinto Fryman, co-founder and chief marketing officer for visual AI software-as-a-service (SaaS) company Syte , stated that advanced learning tools like AI can enable such experiences, making the overall process more seamless and user-friendly.

Trending: Meeting The Millennial Need For AI-Powered Visual Shopping

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In other markets, the rise of marketplaces is giving old organizations new perspective. An AI-Powered Visual Shopping Experience For Millennials, Gen Z. Tech-savvy millennials and Gen Z consumers want a shopping experience that offers visual search to enhance product discoverability, harkening to social media apps such as Instagram and Pinterest.

New Amex Debit-Like Features Seek to Entice Millennials

Bank Innovation

While Amex remains at the top of the credit stack in terms of payment volume, its market share has been declining as banks like Chase and […]. Cards Exclusive Payments PFM American Express credit cards Float Credit JPMorgan Chase millennial customers paymentsEXCLUSIVE—With the new “Pay It, Plan It” features announced this week, credit provider American Express is banking on a more debit-like functionality to gain customers. But will that approach work?

What Post-Millennials Like

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Just as marketers started to get the hang of this newfangled “millennial” crowd, the next generation comes along to shake things up with different values, preferences and spending patterns. Some call them Generation Z, some call them post-millennials. By 2020, post-millennials are projected to make up some 40 percent of North America’s population. But the real surprise here comes from post-millennial media viewing numbers.

NEW DATA: How Bridge Millennials Are Upending The $400 Billion Apparel And Accessories Market

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This lower figure, plus the drive to digitize the market, is making the clothing industry increasingly competitive, with retailers clamoring to attract and maintain shoppers’ loyalty. And it’s easy to see why, as they are inheriting and embracing the apparel market. The retail torch is being passed to a small cross-section of consumers, where Generation X meets the millennial generation, known as the bridge millennials.

Millennials Make Big Push For B2B Personalization

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It said that 70 percent or more of millennials are involved in B2B buying decisions. “As Even so, Amazon has been steadily moving into the business-to-business market via Amazon Business. B2B Payments B2B Corevist ecommerce Editors' Picks Millennials NewsThanks to better data analysis — including via machine learning and artificial intelligence, among other emerging technologies — personalization is becoming a bigger part of the overall consumer experience.

Millennials Are Facing Their Second ‘Once-in-a-Lifetime’ Financial Crash

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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. On the other hand, a millennial born between 1981 and 1996 has only a 50-50 chance.

The Buyers: Hispanic Millennials’ Buying Power

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Millennials. million millennials, as reported by Pew Research Center , obtaining, maintaining and retaining consumers from this particular consumer segment is the golden ticket for retailers. Nielson research confirms that multicultural millennials make up 42 percent of the overall millennial population, and 47 percent of those multicultural millennials have a significant impact on the U.S.’s

What ‘The Simpsons,’ Art And Millennials Have In Common

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It was meant to be a criticism of the art market, and I think it’s going to double the value of the work.”. Because the millennial art buyers are arriving – and what they buy, how they buy it and how they relate to it is very different than prior generations. The Simpsons,” Dolls, Shoes – The Eclectic World of Millennials’ Collections. It wasn’t the only big sale for a KAWS piece that day – a millennial Chinese buyer dropped $2.6 It’s a very fast-moving market.”.

How Millennials Shop For Furniture With Direct-To-Consumer Brands

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Millennials value experiences over things, as the familiar digital age adage goes, but sometimes millennials do, in fact, need actual things , such as sofas, beds and tables to furnish their apartments and houses. To reach digitally native consumers who are willing to buy bulky items without the traditional brick-and-mortar experience, direct-to-consumer (D2C) furniture retailers are adopting millennial-friendly business models. ” Changing Millennial Needs.

The Millennial-Driven Evolution Of Jet.com

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To get more millennials on board, the Bentonville, Arkansas-based retailer is rolling out offerings designed to attract younger, well-to-do consumes in urban areas. Jet.com is broadening its selection and rolling out same-day delivery in the Big Apple for kinds of items that millennials purportedly crave, like craft beer and local foods. New York City provides “a dense market with wealthy shoppers,” according to CNN Money.