These Fintech Solutions Are Teaching Gen Z About Finance

Millennial research, Millennial insight, Millennial marketing, Gen Z research, Gen Z marketing, Gen Z insight, youth research, youth marketing


Let’s face it—Gen Z hasn’t grown up with a very financially stable idea of the world. The majority of the generation doesn’t remember a time before the Great Recession, which gave them a heightened sense of social, cultural, and, of course, financial anxiety that Millennials were able to skip. That might not be such a bad thing—while many Millennials went into college with a sense that everything would work out in the end only to be met with mounting debt and a stagnant job market, Gen Z has been raised with a healthy dose of caution. In response, teens today are surprisingly pragmatic and frugal—last year, when we asked them to divulge their top personal goals, “saving money” broke the top 10. In fact, some 60% of Gen Z already has a savings account, according to Rave Reviews, and New York University found that 35% have enrolled in a financial class of some sort, surpassing the financial literacy goals of Millennials (12%) and Baby Boomers (16%). What’s more, 64% of Gen Z has already begun researching the topic of financial planning and 89% say planning for their financial future makes them feel empowered. Clearly this generation is not about to let financial troubles get them down.

At the same time, Gen Z is entering adulthood at a time when banking and financial planning look a lot different than they did just a few years ago. A young consumer-led fintech revolution is underway, and mobile banks, money-tracking apps, and digital investment platforms are flourishing. And while the fintech market has largely targeted Millennials, a few up-and-coming companies are eyeing Gen Z’s rising spending power and financial…


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Quote of the Day:  Millennials have grown up in a world where consuming wine outdoors—or any location outside of the traditional table—is more acceptable than generations past.”—Kate McManus, VP of Marketing, Delicato Family Wines (Wine Spectator)

Young consumers are “killing the shopping spree.” Whether they’re signing up for the growing number of clothing subscription services (Rent the Runway, Le Tote, Urban Outfitters, etc.), shopping second-hand, or just culling their closets—young shoppers are quitting fast fashion in droves. Some are inspired by Marie Kondo’s joy-sparking brand of minimalism, while others want to help the environment—and still others are just seeking a wide range of things to wear at a lower price. (Vice)

Airbnb is launching “adventures” for experience-seeking young travelers. The site that started with accommodations and moved into one-off “experiences” (like dinner parties) now offers multi-day excursions, complete with guides, gear, meals, and accommodations. The platform already features over 200 trips in 40 countries, including a tiger-tracking expedition in Kenya and a trek through the canyons of Oman. (Fast Company)

Tyson Foods is taking on the fake meat market with plant-based nuggets. The pea protein nuggets are the first in a line of “Raised & Rooted” products from Tyson Foods. The brand's CEO explains they’re catering to the “growing number of people open to flexible diets that include both meat and plant-based protein”—aka young flexitarians, not full-time vegans. But can a company known for its meat sell the idea that “this [trend] is about ‘and’—not ‘or’”? (The Verge)

Snapchatters can shop Levi’s new Pride Month jacket via selfie filter. The Shoppable feature is first enabled by scanning a QR code found at select stores or by getting a special Snapcode from a friend. Then, users can try on the special-edition trucker jacket via augmented reality, customizing it with one of two washes and a selection of six pins and patches. Once they complete the look, users can purchase the Pride Month Jacket—without ever leaving the app. (SJ)

Amazon’s new Echo Dot Kids Edition revamps the original. The new smart speakertakes many cues from the adult version’s second generation (it’s louder and rounder) but adds special features just for kids that go beyond a rainbow-striped color scheme. The device will come with a year of FreeTime Unlimited, a subscription service that includes popular Alexa skills like Pinkfong’s Baby Shark Adventures, as well as an enhanced parental control suite to address growing privacy concerns. (VarietyCNET)

Quote of the Day: “Young people still have an incredible interest in the Olympic Games…But the way they are consuming the Olympic Games—the type of content they are watching and the ways and the platforms on which they are watching—are fundamentally changing.”—Kit McConnell, Sports Director, International Olympic Committee (Bloomberg)

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