Young People and Finance - Ireland - June 2011
Young consumers aged 18-24 provide a key target market for many financial providers. Banks are keen to acquire and retain younger customers and so offer them a range of specific products and services tailored to their needs, hoping to gain their loyalty young, thus helping to generate lifetime customers.
The recession has taken its toll on young consumers’ finances, and seen them become more aware of their finances than past generations were, resulting in more savvy customers who are also more demanding.
Some key points from the report include:
- Addressing the needs of the youth market – How do financial providers target 18-24-year-old consumers and address their needs specifically? How successful are they in this attempt?
- Changes in spending priorities – Young consumers can be the most at risk of being unemployed during the recession. How has it changed their spending priorities and in turn their financial requirements?
- How young consumers view financial matters – How engaged are young consumers in finance? How do they rate their financial planning skills and how high is their interest level in their finances?
- Targeting mediums – What are the preferred mediums for banks and other financial institutions in targeting young consumers? What role do social networks play in targeting 18-24-year-olds?
- The effects of population change and migration – With net migration at a high point, and consumers aged 18-24 continuing to account for a smaller percentage of the Irish population, how will this impact on their targeting of financial products to young consumers?
What you get
This market report provides in-depth analysis and insight supported by a range of data. At the same time, introductory and top-level content is provided to give you an overview of the issues covered.
Mintel provides a range of market information, frequently through the category level, including market size and forecasting, complete with market drivers that illustrate the forces that shape a category or market.
Mintel's proprietary consumer research provides our analysts with the attitudinal and behavioral data used to provide valuable insight to topical issues.
Mintel provides overviews of the top brands and manufacturers, and uses consumer research to explore attitudes and reactions to brands, as well as insight into what will resonate with consumers.
Market reports provide appendices of data to support the research and insight produced. Our tables of data are easily manipulated and downloadable to support your research needs and covers factors from consumer attitudes to market forecasts.
* This is a sample representation of the report layout and does not reflect the research included in this report.
Why buy from us?
Our reports will provide you with market data, consumer research and competitive intelligence to succeed in your market.
Buy now and you'll have instant access to the information you need to make the right decisions.
Find out what's next in the markets that matter to you: where opportunities lie and what challenges you will face.
A business Superbrand, Mintel is a source you can trust. We have been defining and refining the Market Intelligence mix since 1972.