The new Logica Future of Money Study includes insights on the way Gen Z, Millennials, Gen X and Boomers make, spend, and manage money
SAN FRANCISCO, June 20, 2022 /PRNewswire/ — According to the new Future of Money Study from Logica Research, each American generation has unique and changing financial habits and needs. Additionally, awareness and ownership of Cryptocurrency is growing, according to a special report within the study. The study is a comprehensive look at the current consumer money mindset in the United States, and covers specifics about how people are making, spending, investing and engaging with financial brands.
Some key generational and Cryptocurrency findings include:
- Millennials, Gen X and Boomers all prefer in-person meetings to get financial advice, with Gen Z preferring YouTube videos for all types of financial advice.
- Gen Z (58%) and Millennials (68%) are most likely to own Crypto in the next five years, compared to Gen X (50%) and Boomers (24%).
- Forty-one percent of Millennials are buying Crypto more due to the volatile market, compared to 31% of Gen Z, 38% of Gen X, and only 21% of Boomers.
In addition to the generational financial personas and the special report on Cryptocurrency, the full study includes new data and trend analysis of how employers can retain and attract employees, payments trends like Buy Now Pay Later (BNPL) and peer-to-peer payments (P2P), and money management insights. Qualitative interviews among Gen Zers and Millennials were conducted by Logica Research and KNow Research.
“Our latest wave of Future of Money research sheds light on some of the hottest topics in the financial world, like consumer behavior around Crypto and the rising financial power of Gen Z,” said Lilah Raynor, CEO & Founder, Logica Research. “And the Insights Kit gives financial services businesses and brands direct access to deep, actionable insights that will help them plan the best products and services.”
About the Logica Future of Money Study and the Insights Kit
The Logica Research Future of Money Study is a twice-yearly research report that offers a detailed 360-degree snapshot of the current consumer money mindset. The online study has been running since 2017 and is conducted among 1,000 U.S. adults and an augment of 200 older Gen Zers (16-25 years old). This wave of the study was conducted in April 2022. Access to the study is provided through the Future of Money Insights Kit from Logica Research.
Logica Research excels in creating customized marketing research solutions for complex business questions. Logica provides financial services companies, fintech companies, and growing organizations the insights they need for product development, service enhancements, and communications that will improve people’s financial lives, deepen brand engagement, and drive business growth. www.logicaresearch.com
KNow Research is a full-service, female-driven, insights consultancy on the front lines of research, delivering fresh insights through custom research design. KNow Research conducted in-depth interviews for the Future of Money Study this wave to bring human stories to the quantitative findings. KNow Research creates qualitative research design for clients by combining methodologies from traditional in-person research with online and mobile approaches. www.knowresearch.com
SOURCE Logica Research