The French Generation 18-25 and Financial Services
French financial institutions are focusing on young adults as the next target market.
Young adults aged 18-25 are capturing the attention of French financial institutions. This group is both sizable, representing over 10% of the French population in 2006, and easy to target, because many young adults are looking for financial service providers. In a new report, , Celent provides strategies for financial institutions to attract and develop loyalty with this segment of the French population.
"The main financial institutions are fully aware of the potential of the 18-25-year-olds, and the competition to attract this segment has been fierce over the last five years, particularly within the banking sector," says Perrine Fiorina, author of the report. "Financial services providers have become very sophisticated in targeting this segment with a full range of products and services, and marketing strategies that leverage attractive prices, new distribution places, and innovative communication channels, as well as a slew of targeted promotions."
Celent's research analyses youths' financial goals and concerns in order to emphasise the most appropriate products and services which meet their needs. According to the report's findings, generation 18-25 wants to be able to interact with financial institutions both in person and via the Internet and other electronic formats. The group prefers to search for information online before going to a branch, but they still want to interact with representatives in person and by phone. They expect a combination of traditional methods and new e-based methods, presenting a unique marketing challenge.The 41-page report contains 23 charts and four tables. A table of contents is available online. Members of Celent's research services can download the report electronically by clicking on the icon to the left. Non-members should contact email@example.com for more information.