A round-up of the top millennial stories from the past seven days. Find out how rising interest rates could affect millennials, why Bitcoin investing is attracting a younger crowd and why the PayPal CEO calls millennials “GenTech”.
In this interview with CNBC, PayPal CEO Dan Schulman gives some interesting insights into how the fintech giant views the millennial generation — even coining a new term to describe the demographic: ‘GenTech’.
Speaking to Mad Money’s Jim Cramer, he said: “If you think about… [this age group], they grew up with a screen in front of them. And so they think about everyday processes, like payments, differently than you and I do. The public-private boundaries are different than what you and I grew up with.”
Want to learn more about the millennial generation? Join Ashley Brown and Jennifer Olson from Simmons Research as they present exclusive research on millennials’ attitudes to personal finance, as well as how they shop and their impact on retail and e-commerce. Register here.
This piece, which featured recently on the Millennial Money Guide, looks at goals and aspirations that millennials should keep in mind while on their travels. From living like a local to improving photography skills, it taps into millennials’ appetite for experiences over material possessions.
Research by Blockchain Capital has unearthed an interest among millennials for Bitcoin. For instance, one in four millennials surveyed said they would prefer to invest $1000 in Bitcoin than in the stock market. Meanwhile, 30% of millennials said they would choose Bitcoin over government bonds, 22% would choose Bitcoin over real estate and 19% would choose Bitcoin over gold. Despite this, only 4% of millennials have owned or currently own Bitcoin so as with much else in personal finance, there is some way to go before the reality for this age group catches up with their aspirations.
This article, from marketing specialists Jellyfish, argues that, far from emails being passé, companies could and should be using them far more effectively to reach millennials. It notes that millennials value personalised approaches — and getting this right can lead to a boost in brand loyalty from millennials of nearly 30%.
How will raising interest rates affect millennials?
The recent decision by the Bank of England to raise interest rates for the first time in over ten years has wide-ranging implications for millennials. In this blog for the Intergeneration Foundation, David Kingman looks how higher interest rates could impact on this generation’s savings, debts — and how it affects their prospects of getting on the housing ladder.
Advisers should be listening to the millennials about how they use technology to communicate, according to F&TRC Director Ian McKenna. They should use this insight to shape their advisory businesses.
Speaking to Informed Choice managing director and IFA Martin Bamford on PFS Festival Radio, McKenna said: “Take the millennials in your business, whether they’re your children or employees and listen to them about the how [they use technology to communicate].”
If there are any stories you would like to see featured in future round-ups, feel free to tweet me at @sophierobson2.