What Hath Bridge Millennials Wrought To Commerce And Payments?

PYMNTS

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.

Are Millennials Really Killing Canned Tuna, Too?

PYMNTS

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.

The Coming Millennial FinTech Crisis

PYMNTS

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.

The Retail Complexities Of Wooing Bridge Millennials

PYMNTS

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

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

PYMNTS

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.

The Complexities Of Wooing Bridge Millennials

PYMNTS

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

What 2019 Will Mean for Millennial Commerce and Payments

PYMNTS

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.

AI/BOTS: AI Bank Tech And Millennials

PYMNTS

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.

Plastic Pulls Weight With Millennials?

PYMNTS

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.

Deep Dive: Bridge Millennials And The C-Store Experience

PYMNTS

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.

Deep Dive: How Bridge Millennials Are Reinventing The Gas Run

PYMNTS

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.

Millennials Spend Less While On Business Trips

PYMNTS

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.

The Millennial-Driven Evolution Of Jet.com

PYMNTS

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.

Great Jones On Serving Up Cookware For Millennials

PYMNTS

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

Millennials, Mobile Payments And Debit: A Recipe For Consumer Engagement

PYMNTS

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.

Millennials Are Ready for the Bank of Amazon

Bank Innovation

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

Study: Financially Self-Sufficient Millennials Are Happier

PYMNTS

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.

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Open Banking Is A Must for Millennials, Bankers Claim

Bank Innovation

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

Turns Out, Millennials Are Not That Unique

Bank Innovation

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

Can Millennials Drive Mobile Payments For Gas?

PYMNTS

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.

Millennials: STOP EATING AVOCADOS!!!

Chris Skinner

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!!!

What Post-Millennials Like

PYMNTS

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.

Millennials Shun Credit Cards After Getting Denied

PYMNTS

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.

Millennials Use Mobile Banking More (But Trust It Less)

Bank Innovation

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.

Millennial Women Are (Still) Held Back from Investing by Student Debt, SoFi Says

Bank Innovation

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.

The Buyers: Hispanic Millennials’ Buying Power

PYMNTS

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

Why Millennials Want To Crowdfund Their Mortgage Down Payments

PYMNTS

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.

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. Currently, millennials’ combined financial assets come up to $4.5

NEW REPORT: Millennials Raise Credit Unions’ Innovation Bar

PYMNTS

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

For Millennials, Traditional Banking Is Not Anathema

PYMNTS

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.

Millennials Are Shunning Credit Cards

PYMNTS

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.

How Millennial Drivers Are Changing Automotive Practices

PYMNTS

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.

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 challenge today is to think like a Millennial.

Baby Boomers Vs. Millennials: Home Renovations Edition

PYMNTS

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.

It’s Time to Stop Ignoring the Millennial HomeBuyer, Better Mortgage Growth Suggests

Bank Innovation

Most of this funding (75%, according to figures, it released last week) went to millennial homebuyers, the majority of which were also first-time […].

Millennial Corporate Buyers Get Personal With Suppliers

PYMNTS

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.

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

PYMNTS

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

Study Says Millennials Business-Savvy Over Selfies

PYMNTS

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.

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NEW REPORT: Visa On Arming CUs To Win The War For Millennial Talent

PYMNTS

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.

Boomers Vs. Millennials: Holiday Shopping … In September?

PYMNTS

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?

Millennials Prefer Venmo to Cash, Duh

Bank Innovation

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.

Millennials Vs. Baby Boomers: Raise A Glass To Purchasing Preferences

PYMNTS

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.

Robo-Advising on the Rise Among Full-Service Millennials

Bank Innovation

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.