Gen Z is the first generation to be so financially literate at a very young age. But how do they educate themselves on financial planning? What investment products do they (wish to) invest in? And what is their take on debt?
This infographic –based on proprietary quantitative research amongst 9,109 consumers (3,558 Gen Z, 2,086 Gen Y, 1,951 Gen X and 1,514 Baby boomers) in 8 Asian markets (China, Hong Kong, Indonesia, Philippines, Singapore, South Korea, Taiwan, Thailand) – visualizes how Gen Z take on finance, how they deal with financial planning and what this means for brands.
63% of Gen Z in Asia state their interest in financial planning and/or investing has increased in the last 2 years. Rather than following expensive business courses, they self-educate online. 50% of Gen Z does this by following influencers on social media, aka ‘fin-fluencers’. Next to saving (74%), Gen Z is eager to invest (74%), with stocks (29%), education funds (18%), mutual funds (18%) and health plans (17%) taking up a large share in their investment portfolio. Yet this generation goes beyond traditional investment products and sees a lot of potential in cryptocurrencies (20%) and Fintech solutions. 66% even hope Fintech can provide their generation with ways to gain wealth.
So, what does this mean for brands? Gen Z expects accessible and actionable financial advice, supporting them with building financial resilience.
Want to explore how your brand can connect with this woke consumer? Discover what our Gen Z research toolbox and expert power can do for your brand!
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