MILLENNIALS

More in MILLENNIALS

• 84% millennials prefer credit lines over BNPL : Report

  Millennials, which form the majority of the population today, have smart investment methods and unique preferences when it comes to digital payments. Their demands are ever increasing due to the advent of digital, and to meet them companies are rushing with better product launches and providing better consumer experience. According to a recent report, 84 per cent of millennials today prefer credit lines over personal loans and BNPL. Out of this, satchetised loans of less than Rs 10,000 are preferred by 49 per cent of these millennials. Here's more that the report reveals :

  

• Top 5 expectations of millennials from Budget 2023

  Millennials have helped bring in the digital lending, UPI, crypto revolution in India, by heavily participating in these and helping these sectors grow. Even though their spends are more than their savings, there is increased participation from millennials in various investments like mutual funds, crypto, etc. Millennials today are more actively managing finance and hence, ETBFSI brings to you key expectations from the newest members of workforces today :

  

• Millennials at forefront of online finance products, contribute 44% of total lending: Report

  Millennials are redefining both the lending and payments categories in India. There has been a shift in mindset and growing comfort towards availing digital credit and using digital payments to achieve both short term and long term goals.

  

• Driving Product Innovation in Life Insurance

  The insurance industry is increasingly presenting innovative, digitally enabled, flexible products to connect with this emerging consumer cohort. But if one takes a look at the businesses that have consistently launched successful new innovative product solutions, there’s the presence of a methodical process implemented to develop ideas from concept to marketable solutions.

  

• Millennials ending 2022 with BNPL loans for Christmas, New Year

  Be it Diwali, or New Year, millennials continue the trend to borrow money, this time ending the year with BNPL loans for Christmas and New Year. Here’s how this generation is planning to manage theirs year-end party expenses and what was their credit experience in 2022:

  

• 'Buy and hold’ crypto trend seen among millennial female investors: Report

  The GenZ women hold a positive outlook towards decentralised digital currencies. 20 per cent considered Bitcoin as the best long-term asset to invest, compared to others like real estate, art, stocks, etc.

  

• Diwali shopping with BNPL, Millennials live on YOLO motto

  Millennials, who are often short on cash, have resorted to buy now, pay later (BNPL) for all their festival shopping this season. While they're moving high on credit, lenders are also pouring in various offers along with e-commerce giants to tune in to the market sentiment.

  

• ‘Sustainable & Digital’ over ‘traditional’: How millennial investment strategy is shaping up

  Data from a recent report suggests that 80 per cent of young investors are searching for alternative investment assets such as equity, commodities, real estate, etc. In fact, they reportedly allocate three times more (16 per cent) funds to these tangible assets.

  

• Millennials and their growing inclination towards ‘sharing economy’

  Although a sharing economy is a breeding ground of opportunities for startups, it also provides key insights into the behaviour of a millennial consumer.

  

• Residential prices surge due to resurgence in demand

  Residential prices, which have surpassed pre-pandemic levels, have been seeing an upward trend led by rising demand amidst rising prices of construction materials. Delhi-NCR saw the highest increase in residential prices at 10% YoY, followed by Ahmedabad and Hyderabad with 9% and 8% YoY increase respectively.

  

• Must focus on developing prudent investors: Padmaja Chunduru for millennials & GenZ

  At the ETBFSI FinNext Summit 2022, Padmaja Chunduru, MD & CEO, NSDL talked about how millennials today are very much into the investing mode and post covid, the traction from this cohort has increased immensely. “It behooves all of us in the market, specially in the infrastructure segment to provide them with proper awareness and financial literacy when it comes to stock markets and capital markets,” she said, while highlighting the efforts that are already being made by the NSDL with campaigns such as ‘Market ka Eklavya’ and more. She also spoke about how her past experiences as the MD & CEO of Indian Bank and working with the State Bank of India prior to that prepared her for the current role at NSDL, where she is already overseeing a lot of transformational changes. Tune in, and listen to her advice and inputs on the same.