Tom Bates
Managing Director
STRAT7 Audiences
The world is going through “interesting times”. Political, social and economic issues are hitting consumers every week. It seems like we’re in a period of constant change.
With things shifting so much, it’s hard to find the time to take a step back from tactical projects, like ad testing or product development, and take a holistic view of how opinions on finance differ between generations.
That’s what we’re aiming to do here.
We want to see if using generational theory as a lens reveals new and different insights into the world of financial services. In the process, we aim to help banks, insurance companies and card providers better understand the disparate needs of their customers’ different age cohorts, and win at change…
From Boomers to Zoomers pairs 90-minute, tri-generational family conversations with a 2,000-respondent survey across the UK & US. You’ll learn:
- How cost-of-living pressures and life-stage collide to shape money mind-sets.
- Where each cohort turns for guidance—and the opportunities that creates for providers.
- Practical, generation-specific actions to build loyalty when “everyone is struggling”
Executive summary:
Gen X are the sandwiched generation, supporting their kids and increasingly their parents as well. Financial challenges faced by Gen Z and Millennials are impacting financial stability of their Gen X parents. At the same time, the lack of worry from Boomers around finances may one day impact their Gen X children. This pressure means many Gen X are not thinking about saving (or are unable to save effectively) for the future.
Respondents liked to claim that they were financially literate, but there were many financial products and activities that people knew very little about, such as investing, or pensions that can be leveraged to achieve financial freedom.
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