INDUSTRY INSIGHTS YOUR PEERS ARE READING
Millennials are expected to have $20 trillion in wealth by 2030, according to a July 2018 CB Insights study. Currently, millennials’ combined financial assets come up to $4.5 MORE
Embracing Tech Change to Win Over Millennials. In the May feature story, DeBoer explained how the credit union has adopted a series of innovations, including Touch ID and facial recognition, in order to appeal to its millennial members. “We MORE
As to be expected, baby boomers and millennials were at different ends of the spectrum in terms of the types of houses bought, differences in improvement choices and amount of money spent on repairs. As we reported back in February, millennials are saddled with much more debt than baby boomers were at the same age. Another factor impacting the millennial generation is the 2008 recession. MORE
It’s still technically summer for a few more days, but we already know how shoppers — Baby Boomers and millennials — are going to shop this holiday season. But how are Baby Boomers and millennials going to gift this year? Millennials , well, they’ve got their wallets and they’re ready to spend , with most planning on spending significantly more this holiday season than last year. Those millennials simply just say, “No, thanks.”. So, what are millennials buying? MORE
Millennials are in the driver’s seat of innovation. But a new study from FIS, released this week, suggests that millennials are not as unique as many think — at least in terms of financial service preferences. DataBank Databank Mobile banking digital banking FIS millennial MORE
And the numbers strongly indicate that millennials will be leading that surge – 60 percent of first-time homebuyers are millennials, and many will be looking to build their first “grown-up” kitchen. Retail Bridge Millennials cookware kitchenware News Shop Talk MORE
A 10-year study by the National Endowment for Financial Education shows that millennials who are no longer relying on mom and dad for financial help are more confident and happier overall. In addition, financially sufficient millennials are also making better financial choices such as working more hours to earn more and saving up for big purchases instead of accumulating credit card debt. MORE
The stated goal, according to new CEO Jim Brett – is for the brand to build back its audience particularly among millennial shoppers. We believe the Bridge Millennial is the bellwether for how connected commerce will evolve over the next five to 10 years,” Webster wrote. “We MORE
Millennial women have the funds available to start investing, but are held back by a fear of beginning the process, as well as the typical reason most millennials aren’t investing: debt, a study released yesterday by loan provider SoFi found. MORE
Most of this funding (75%, according to figures, it released last week) went to millennial homebuyers, the majority of which were also first-time […]. MORE
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. The PYMNTS study found that 65 percent of high-income millennials — consumers born between 1978 and 1995, and with annual incomes ranging from $75,000 to $150,000 — made at least one gas purchase per week. MORE
millennials), “plastic does not even have to be a card anymore; it means access to … schemes such as Visa and Mastercard, perhaps through mobile devices … they will get on that and stay on that.”. Payment Methods Featured News lost in transaction Millennials PaysafePlastic. MORE
The stated goal, according to new CEO Jim Brett, is for the brand to build back its audience, particularly among millennial shoppers. We believe the bridge millennial is the bellwether for how connected commerce will evolve over the next five to 10 years,” Webster wrote. “We MORE
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. MORE
Millennial consumers are ready to be brand ambassadors — especially when engaging in mobile commerce with private-label debit 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. The interview with Bailey comes amid increasing focus on how millennials might change gas and convenience store payments. MORE
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. MORE
Millennials are making up an increasingly large portion of corporate buying teams, and it’s shaping the way buyers interact with their suppliers, finds the latest research from SnapApp and Heinz Marketing. According to the data, 13 percent of companies said they have at least one millennial who is a decision-maker on their buying committees, while 27 percent said they have a millennial that is an influencer. MORE
As more millennials become adults and baby boomers pass on, these young adults will have larger purchasing power. Census, shared that the number of millennials (75.4 Given these figures, and varying degrees of purchasing power, and interest in trying out new technologies in everyday settings, millennials seem to have the upper hand. Millennials especially want to use technology that empowers them to better manage their lives,” Taylor said. MORE
It’s crucial for banks to start participating in the finance revolution, especially as millennials are on the hunt for open banking—at least, according to bankers. DataBank Databank Innovations Online Technology APIs open banking Financial Regulation millennial customers psd2 MORE
This is also the case for the drinking habits of millennials vs. baby boomers. According to PYMNTS research, millennials of drinking age drank 42 percent of the wine that was drunk in 2015, with the average millennial downing just over three glasses in a sitting. In terms of beverage choice, millennials are drinking far more wine than their older counterparts, consuming nearly 160 million cases in 2015 alone,” said Tina Hay, CEO of Napkin Finance. MORE
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. MORE
A new report shows that millennials use Venmo more than they use ATMs as if there was any doubt that to this audience an app like Venmo is a prime method of payment. MORE
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. Beyond carrying big brand products, Jet.com launched a private-label brand called Uniquely J last year to home in on the urban millennial crowd. MORE
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. Some notable revelations about the apparel and accessories sector in our study included: Millennials, on average, make 19.3 MORE
One fourth of full-service millennial investors have either tried, or are actively using, a robo-advisory platform, according to a new study by J.D. The study suggests that millennials have now accumulated enough wealth to be in the “sweet spot” for engaging a wealth manager. MORE
Turns out millennials are not the different-kind-of-banking-breed some had thought. In a survey held from the end of June into early July and conducted by SurveyMonkey , the web-based survey firm queried more than 1,000 adults above the age of 18, 290 of which were defined as 18- to 34-year-olds: millennials. Venmo remains a distant second, at 11 percent, with even greater adoption among millennials at 30 percent. MORE
Among the most influential drivers of retail change is a subset of consumers PYMNTS identifies as “ Bridge Millennials.” It also spends approximately $2,225 per year on retail purchases, which is more than $830 more than baby boomers and nearly $300 more than younger millennials. MORE
Helping CUs Engage and Retain Millennial Talent . When it comes to careers, millennials are more mission-driven than previous generations. In the war for talent, this gives the credit union market an advantage in encouraging millennial job candidates to pursue careers in the industry. MORE
11 survey from Accenture, millennial participants would consider parking their money with nontraditional institutions, and they picked winners. Commerce E-Commerce Mobile Online Payments Retail Startups Technology Accenture amazon Google Google Wallet millennials Mobile banking online bankin MORE
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. Retailers are also taking note, for both traditional millennials and Bridge Millennials. MORE
While they enjoy many FinTech innovations, most millennials don’t have a snowball’s chance of earning more than their parents — ever. But that downward slide took a nosedive for the kids born in the 1980s — or what we call today the millennial generation. It’s a fact. MORE
While millennials remain the top adopters of mobile banking, the generation is also more likely to have problems with their financial apps, a new survey released by online mobile payment and identity verification company Jumio found. MORE
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. But the store has a decidedly digital native, millennial-friendly touch. MORE
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. MORE
Whether you’re annoyed that they take selfies or that they would rather share than own things, plenty of people knock millennials, especially when it comes to work ethic. Believe it or not, the report found that millennial business owners are not only forward-focused in the market, but they’re also the most prepared when starting and owning a business. For those millennials that have started or are thinking about starting a business, that number is growing, too. MORE
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. MORE
Millennials Want To Own. The good news is this: There is a growing body of data, not all of it blatantly self-serving, that indicates millennials do want to own vehicles and not just share them — nor tie their lives to ridesharing services such as Lyft and Uber. Millennials can also be reached via their preference for constant connection — at least that is what car manufacturers are betting on. MORE
26) new research that revealed over six out of 10 millennials declined for credit are not seen applying again for at least 12 months. In a press release , the company said the study found that millennials often apply for credit but are declined due either to their lack of credit history or to low credit scores, despite often having an ability to repay, according to data from the ID Analytics ID Network, one of the nation’s largest networks of cross-industry consumer behavioral data. MORE
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 MORE
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. MORE
Millennials may know something that their older counterparts haven’t figured out yet: Cash is better than credit cards. While older generations grew up with the mantra, “Charge it,” millennials came of age during a tough time in the economy when record foreclosures and high unemployment were the norm. In addition to avoiding credit cards, millennials are also moving toward payment methods that do not require cash or credit. MORE
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 either dragging down the housing market because they can’t/won’t buy houses, or millennials are both leading the modern mortgage market and simultaneously leading it into the digital age. MORE
I’ve spotted a couple of interesting discussions about millennials and money in the last week, both of which say that the views on them are wrong. Stereotyped as avocado-crunching, cappuccino drinking, needies, the general media view is that this is a generation spoilt by helicopter parents to grow up to … The post Millennials: STOP EATING AVOCADOS!!! MORE
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 challenge today is to think like a Millennial. MORE
Millennials Related Topics 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. Retailers are also taking note, for both traditional millennials and Bridge Millennials.
PYMNTS
DECEMBER 4, 2018
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.
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. But that downward slide took a nosedive for the kids born in the 1980s — or what we call today the millennial generation. It’s a fact.
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. We believe the bridge millennial is the bellwether for how connected commerce will evolve over the next five to 10 years,” Webster wrote. “We
PYMNTS
DECEMBER 18, 2018
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. But the store has a decidedly digital native, millennial-friendly touch.
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. We believe the Bridge Millennial is the bellwether for how connected commerce will evolve over the next five to 10 years,” Webster wrote. “We
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.
PYMNTS
AUGUST 23, 2017
As more millennials become adults and baby boomers pass on, these young adults will have larger purchasing power. Census, shared that the number of millennials (75.4 Given these figures, and varying degrees of purchasing power, and interest in trying out new technologies in everyday settings, millennials seem to have the upper hand. Millennials especially want to use technology that empowers them to better manage their lives,” Taylor said.
PYMNTS
OCTOBER 2, 2017
millennials), “plastic does not even have to be a card anymore; it means access to … schemes such as Visa and Mastercard, perhaps through mobile devices … they will get on that and stay on that.”. Payment Methods Featured News lost in transaction Millennials PaysafePlastic.
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.
PYMNTS
AUGUST 2, 2018
Among the most influential drivers of retail change is a subset of consumers PYMNTS identifies as “ Bridge Millennials.” It also spends approximately $2,225 per year on retail purchases, which is more than $830 more than baby boomers and nearly $300 more than younger millennials.
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 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.
PYMNTS
SEPTEMBER 18, 2018
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. Beyond carrying big brand products, Jet.com launched a private-label brand called Uniquely J last year to home in on the urban millennial crowd.
PYMNTS
NOVEMBER 15, 2018
And the numbers strongly indicate that millennials will be leading that surge – 60 percent of first-time homebuyers are millennials, and many will be looking to build their first “grown-up” kitchen. Retail Bridge Millennials cookware kitchenware News Shop Talk
PYMNTS
SEPTEMBER 11, 2018
Millennial consumers are ready to be brand ambassadors — especially when engaging in mobile commerce with private-label debit 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. The interview with Bailey comes amid increasing focus on how millennials might change gas and convenience store payments.
Bank Innovation
JANUARY 20, 2017
11 survey from Accenture, millennial participants would consider parking their money with nontraditional institutions, and they picked winners. Commerce E-Commerce Mobile Online Payments Retail Startups Technology Accenture amazon Google Google Wallet millennials Mobile banking online bankin
PYMNTS
JULY 2, 2018
A 10-year study by the National Endowment for Financial Education shows that millennials who are no longer relying on mom and dad for financial help are more confident and happier overall. In addition, financially sufficient millennials are also making better financial choices such as working more hours to earn more and saving up for big purchases instead of accumulating credit card debt.
Bank Innovation
APRIL 12, 2017
It’s crucial for banks to start participating in the finance revolution, especially as millennials are on the hunt for open banking—at least, according to bankers. DataBank Databank Innovations Online Technology APIs open banking Financial Regulation millennial customers psd2
Bank Innovation
MAY 25, 2017
Millennials are in the driver’s seat of innovation. But a new study from FIS, released this week, suggests that millennials are not as unique as many think — at least in terms of financial service preferences. DataBank Databank Mobile banking digital banking FIS millennial
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. The PYMNTS study found that 65 percent of high-income millennials — consumers born between 1978 and 1995, and with annual incomes ranging from $75,000 to $150,000 — made at least one gas purchase per week.
Chris Skinner
AUGUST 7, 2018
I’ve spotted a couple of interesting discussions about millennials and money in the last week, both of which say that the views on them are wrong. Stereotyped as avocado-crunching, cappuccino drinking, needies, the general media view is that this is a generation spoilt by helicopter parents to grow up to … The post Millennials: STOP EATING AVOCADOS!!!
PYMNTS
APRIL 27, 2017
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.
PYMNTS
OCTOBER 27, 2016
26) new research that revealed over six out of 10 millennials declined for credit are not seen applying again for at least 12 months. In a press release , the company said the study found that millennials often apply for credit but are declined due either to their lack of credit history or to low credit scores, despite often having an ability to repay, according to data from the ID Analytics ID Network, one of the nation’s largest networks of cross-industry consumer behavioral data.
Bank Innovation
MARCH 8, 2018
While millennials remain the top adopters of mobile banking, the generation is also more likely to have problems with their financial apps, a new survey released by online mobile payment and identity verification company Jumio found.
Bank Innovation
APRIL 6, 2018
Millennial women have the funds available to start investing, but are held back by a fear of beginning the process, as well as the typical reason most millennials aren’t investing: debt, a study released yesterday by loan provider SoFi found.
PYMNTS
JULY 28, 2017
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
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 either dragging down the housing market because they can’t/won’t buy houses, or millennials are both leading the modern mortgage market and simultaneously leading it into the digital age.
Bank Innovation
JULY 27, 2018
Millennials are expected to have $20 trillion in wealth by 2030, according to a July 2018 CB Insights study. Currently, millennials’ combined financial assets come up to $4.5
PYMNTS
MAY 15, 2018
Embracing Tech Change to Win Over Millennials. In the May feature story, DeBoer explained how the credit union has adopted a series of innovations, including Touch ID and facial recognition, in order to appeal to its millennial members. “We
PYMNTS
JULY 18, 2017
Turns out millennials are not the different-kind-of-banking-breed some had thought. In a survey held from the end of June into early July and conducted by SurveyMonkey , the web-based survey firm queried more than 1,000 adults above the age of 18, 290 of which were defined as 18- to 34-year-olds: millennials. Venmo remains a distant second, at 11 percent, with even greater adoption among millennials at 30 percent.
PYMNTS
AUGUST 16, 2016
Millennials may know something that their older counterparts haven’t figured out yet: Cash is better than credit cards. While older generations grew up with the mantra, “Charge it,” millennials came of age during a tough time in the economy when record foreclosures and high unemployment were the norm. In addition to avoiding credit cards, millennials are also moving toward payment methods that do not require cash or credit.
PYMNTS
JULY 9, 2018
Millennials Want To Own. The good news is this: There is a growing body of data, not all of it blatantly self-serving, that indicates millennials do want to own vehicles and not just share them — nor tie their lives to ridesharing services such as Lyft and Uber. Millennials can also be reached via their preference for constant connection — at least that is what car manufacturers are betting on.
Chris Skinner
JUNE 21, 2017
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 challenge today is to think like a Millennial.
PYMNTS
MARCH 7, 2017
As to be expected, baby boomers and millennials were at different ends of the spectrum in terms of the types of houses bought, differences in improvement choices and amount of money spent on repairs. As we reported back in February, millennials are saddled with much more debt than baby boomers were at the same age. Another factor impacting the millennial generation is the 2008 recession.
Bank Innovation
FEBRUARY 6, 2018
Most of this funding (75%, according to figures, it released last week) went to millennial homebuyers, the majority of which were also first-time […].
PYMNTS
SEPTEMBER 12, 2017
Millennials are making up an increasingly large portion of corporate buying teams, and it’s shaping the way buyers interact with their suppliers, finds the latest research from SnapApp and Heinz Marketing. According to the data, 13 percent of companies said they have at least one millennial who is a decision-maker on their buying committees, while 27 percent said they have a millennial that is an influencer.
PYMNTS
MAY 10, 2018
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. Some notable revelations about the apparel and accessories sector in our study included: Millennials, on average, make 19.3
PYMNTS
SEPTEMBER 14, 2016
Whether you’re annoyed that they take selfies or that they would rather share than own things, plenty of people knock millennials, especially when it comes to work ethic. Believe it or not, the report found that millennial business owners are not only forward-focused in the market, but they’re also the most prepared when starting and owning a business. For those millennials that have started or are thinking about starting a business, that number is growing, too.
PYMNTS
MARCH 20, 2018
Helping CUs Engage and Retain Millennial Talent . When it comes to careers, millennials are more mission-driven than previous generations. In the war for talent, this gives the credit union market an advantage in encouraging millennial job candidates to pursue careers in the industry.
PYMNTS
SEPTEMBER 20, 2016
It’s still technically summer for a few more days, but we already know how shoppers — Baby Boomers and millennials — are going to shop this holiday season. But how are Baby Boomers and millennials going to gift this year? Millennials , well, they’ve got their wallets and they’re ready to spend , with most planning on spending significantly more this holiday season than last year. Those millennials simply just say, “No, thanks.”. So, what are millennials buying?
Bank Innovation
OCTOBER 1, 2018
A new report shows that millennials use Venmo more than they use ATMs as if there was any doubt that to this audience an app like Venmo is a prime method of payment.
PYMNTS
NOVEMBER 1, 2016
This is also the case for the drinking habits of millennials vs. baby boomers. According to PYMNTS research, millennials of drinking age drank 42 percent of the wine that was drunk in 2015, with the average millennial downing just over three glasses in a sitting. In terms of beverage choice, millennials are drinking far more wine than their older counterparts, consuming nearly 160 million cases in 2015 alone,” said Tina Hay, CEO of Napkin Finance.
Bank Innovation
APRIL 11, 2017
One fourth of full-service millennial investors have either tried, or are actively using, a robo-advisory platform, according to a new study by J.D. The study suggests that millennials have now accumulated enough wealth to be in the “sweet spot” for engaging a wealth manager.
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