Lifestage Marketing in Financial Services - US - January 2016
There are many ways to define a lifestage, including by age, marital status, or parental status. The financial needs of each lifestage are unique and financial institutions are always seeking ways to appeal to the needs of each one. While the recent recession affected everybody, it may have permanently altered the way Millennials, in particular, look at the financial world. This report examines the differences in the financial goals of each lifestage, how each gets information about financial services topics, what they are looking for from financial institutions, and how they make their decisions on which institutions to use – or not to use.
This report examines the following areas:
- America is aging
- Different generations use different media channels
This report covers how people in various stages of life define their financial goals and what they are doing to reach them. It also includes a discussion of how people get their financial information and the media channels most likely to elicit a response. The technology people use to conduct their financial transactions and those they plan to use in the future is also discussed.
For the purposes of this report, Mintel has defined “lifestage” primarily as generation, but at times as marital status and parental status as well.
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