Segmentation study
Generation Z describes those born between mid-to-late 1990s and early 2010s, and now includes adults aged 18-25. The cohort now represents close to 18% of the UK population, and it will make up 1/3 of the working age population by 2030, making this segment the one holding considerable purchasing power. It is therefore important to understand the challenges and needs this cohort is facing to offer the most suitable financial products.
Understanding Generation Z
► Gen Z Phase I – Introducing Gen Z and their financial habits and challenges
►Gen Z Phase II – How Gen Z saves and invests
Phase I
What will you learn?
This segmentation study of 1,000 individuals in the UK, belonging to the Gen Z cohort, examines:
► The financial challenges they face
► Current unmet needs by their banking providers
► Debt propensity
► Investment and savings strategies
► Future aspirations
Meet Gen Z
Ethical Explorer
► Low-middle income
► Conscious saver
► Places importance on financial products with a sustainability focus and good brand image
► Confident with managing money
Stretched Spender
► Low income
► Has low savings
► Price conscious and financially anxious
► Frequently uses credit products (e.g., credit card, BNPL) and incurs debt (e.g., overdraft)
Energised Entrepreneur
► Mid-high income
► Keen saver
► Has ambitious financial goals (e.g., starting a business)
► Has access to diverse financial products (incl. personal loans and investment account)
Sluggish Starter
► Majority unemployed /looking for work
► Least likely to save
► Has low financial engagement with no immediate financial priorities
► Intends to get a first job and travel over the next three years
Download here to get the full report ►
Please fill out the form to receive the report giving an in-depth introduction of each Gen Z persona and the challenges they face.
Please note: Link to the live stream of the walkthrough of the report will be emailed to you later.
Walkthrough will include:
Overview of how providers are currently meeting the needs of the Gen Z cohort
Current gaps
Proposed solutions
Spotlight on how the market is currently working on improving financial inclusion and assisting vulnerable customers
Designed to help you
Facilitate the development of personalised financial product offerings that meet the needs of Generation Z
Foster a comprehensive understanding of the influential role this demographic plays in shaping the contemporary societal and financial landscape
Gen Z Phase II – How Gen Z saves and invests
Phase II
What will you learn?
In this segmentation study of 1,000 individuals in the UK, belonging to the Gen Z cohort, you will:
► Learn about Gen Z saving habits and different challenges across personas
► Discover barriers and drivers to their investment decisions
► Find out what investment products Gen Z is attracted to
► Uncover what it would take for each of the 4 Gen Z personas to start investing
► Explore their attitudes towards the robo-advisors – are they in or out?
► Understand more about where Gen Z take their financial information from
► Gain access to our targeted persona recommendations on how to supercharge your product offer and create the foundations for long-lasting relationships with this attractive customer segment