Q3 2017 QUARTERLY REPORT TRENDS:
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The narrative around young consumers and technology is that it isolates them—but Gen Z and Millennials see tech as essential to maintaining their friendships. In fact, the majority of 13-35-year-olds say that technology is very/extremely important in helping them stay close to friends. In their experiences, social and chat platforms are major parts of navigating and building relationships, and from Snap streaks to Instagram comments, digital interactions have become integral parts of being friends as a young person today. More and more of their time with friends is spent in digital spaces, and new tools to hang out with friends virtually are being created all the time. We explored the digitalization of friendships and social lives among these young generations to find out what role digital platforms are playing, and how technology has become an essential piece of their friend groups.
ESPORTS LEVELS UP
Competitive video gaming is well on its way to moving from niche to mainstream, as more Millennials & Gen Z take interest and take part in the growing trend. Esports has levelled up from its roots in streaming, and in recent years proven its power to draw in viewers as more major networks air gaming competitions and content. Ninety-seven percent of 13-35-year-olds who watch esports told us they think competitive video gaming is getting more popular with people their age, and brands have noticed. The industry is expected to rake in $1.1 billion in 2019, making it a potential marketing goldmine. We’re exploring why and how esports has captured the attention of young viewers and the brands trying to reach them, and dives into the opportunities available to creatively move into the space.
For a while, the emergence of technology in the financial space was a competitive edge new players used over slow-to-evolve traditional institutions—but now the entire financial industry is in a fintech race. Young consumers’ digital preferences have reshaped the financial world, and they’re fueling the biggest trends in fintech. Robo-advisors, or digital platforms that provide financial advice through algorithms with little to no human interaction, and peer-to-peer payment apps are just some of the tools that have emerged. But how many Millennials are actually using these digital solutions, and what do young consumers really want from their financial services? Fintech Rising looks at the how Millennials are really behaving in this space, and what they want next.