This report looks at the absolute size of the Generation X demographic in different markets and regions. It identifies the different sub-demographics among this generation, including a focus on the specific needs and characteristics of empty nesters. It examines how providers can target Generation X based on certain life stages and milestones, and discusses the channel usage preferences of this demographic. The report also provides case study examples of solutions designed to target this demographic.
Generation X should stand out to banks because this group often controls a disproportionate amount of income, deposits, borrowing, and household wealth. Many are in their peak yearning years, while also holding long-established financial relationships, property assets, and savings accumulated over decades. Therefore, this makes them commercially valuable across multiple categories, rather than within a single product area.
Generation X should stand out to banks because this group often controls a disproportionate amount of income, deposits, borrowing, and household wealth. Many are in their peak yearning years, while also holding long-established financial relationships, property assets, and savings accumulated over decades. Therefore, this makes them commercially valuable across multiple categories, rather than within a single product area.
Scope
- As Generation X enters a period of heightened financial complexity, institutions that align support with changing circumstances will be best positioned to strengthen engagement and capture long-term value.
- As Gen X continues to account for a disproportionate share of consumer spending and household wealth, banks that align propositions with the cohort’s evolving spending behaviors will be best positioned to drive long-term growth and customer value.
- Despite their significant economic importance, unlocking the full value of Gen X will require banks to move beyond broad demographic segmentation and deliver more-targeted and context-driven engagement.
Reasons to Buy
- Identify Gen X trends within financial services.
- Explore the size and characteristics of Gen X and the effectiveness of different targeting strategies.
- Analyze Gen X product and channel preferences, including how preferences differ between affluence groups.
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- HSBC
- Lloyds Bank
- JPMorgan Chase
- Tandem
- Saga
- NatWest
- Nottingham Building Society
- Bank of America
- DBS
