Yahoo7 Insights Series Research: Age Isn’t Just a Number for Credit Card Market

Yahoo7 has today kicked off its new Insights Series for 2016, giving advertisers and marketers access to valuable consumer research across key product categories and seasonal events. The reports will dive deep into a range of sectors, leveraging the strengths of the Yahoo7 network, to provide a greater understanding of consumer buying habits.
First cab off the rank is Age Isn’t Just A Number, a research piece focused on the generational differences in the credit card market.
The new study highlights the importance of Millennials (18-34) as a key target audience for Australian banks, with the fastest uptake occurring within this age group. The research found 72 per cent of 25-34 year old respondents owned a credit card, compared to only 39 per cent of 18-24 year old respondents.
Additionally, the report reveals how to best target each generation, with younger consumers viewing offers as more attractive than other generations. Millennials were much more likely to be motivated by offers compared to Gen X (35-54) and Baby Boomer (55+) groups. Similarly, Millennials placed more value on reward points than any other generation but also proved the most fickle of all the ages, with 35 per cent considering changing their credit card in the next 12 months in order to get a better deal.
Currently, eight million Australians use their smartphones for banking, making online services and in app communications a great tool to connect with Millennials in particular, who are 1.7 times more likely to go mobile.
While the younger generations are more likely to currently turn to online methods to connect with their banking, it seems that consumers of all ages think that apps are part of the future, with almost half of all Millennials (48 per cent), Gen X (46 per cent) and Baby Boomers (42 per cent) planning to use bank apps in the next 12 months.
Interestingly, Baby Boomers still rely on traditional methods to manage their credit cards, with 49% of respondents most likely to visit a bank branch for financial information compared to younger generations who have shifted almost entirely online to research and apply for credit cards.
Paul Sigaloff, commercial director for Yahoo7 said: “Our new Insights Series will provide a better understanding of local consumer habits and consumption trends across a range of sectors. We want to help our advertisers develop tailored approaches so they are reaching the right audiences in the right environments.”
Peter Hammer, head of insights and analytics said: “Our aim is to help marketers understand what consumers are doing and why, but more importantly, highlight the differences in consumer habits across categories and demographic groups. Our Insights team is able to really delve into the preferences of consumers to helpadvertisers see how buying behaviours are evolving and how to adapt to changing consumer demands.”
The Insights Series will feature a new study focusing on a different category each month, ranging from FMCG to automotive and more.
Find out more here.
Please login with linkedin to comment
EMMA dataLatest News

What Are You Waiting For?! Enter TikTok Young Lions Now!
We're certainly not young, talented and trendy but you likely are, so enter the TikTok Young Lions comp!

Boomtown’s Final Masterclass Of 2023 Attended By Almost 100 Media Reps
Don’t treat regional media as a charity, but a real growth opportunity: That’s the message from Boomtown’s final masterclass of 2023, attended by almost 100 media industry representatives from across the nation. The masterclass was part of a series of educational sessions, delivered by Boomtown, the media collective championing advertising in regional Australia. The sessions […]

Mister Cartoon & Turtle Wax Partnership Launches In Australia & New Zealand Via DIJGTAL
DIJGTAL launches ‘The Art of Car Care’, an exciting partnership between renowned LA street artist and icon, Mister Cartoon and Turtle Wax in Australia and New Zealand.

GTA VI Trailer Smashes YouTube Viewership Records
This trailer marks great news for spotty teenagers and socially awkward people around the world.

REVEALED: The Staggering Rental Price Network Seven Paid In Exchange For Bruce Lehrmann Interview
Wish Mr Lehrmann would simply disappear from your TV screens and newsfeeds? Alas, B&T's not seeing it anytime soon.

Telstra Fined $3m By ACMA After Wrongfully Charging Customers
Do you fume every time the phone bill arrives? Take the rage 'next level' with this dodgy Telstra news.

Qantas, Optus, Andrew O’Keefe! It’s 2023’s Most Momentous F#ck Ups!
Typically, B&T likes to champion the best & the brave. However, today we're honouring 2023's most memorable calamities.

Government To Establish Copyright & AI Reference Group To Help Protect Creative Industries
It's industry news from Canberra that thankfully doesn't involve public servants misbehaving at the taxpayers' expense.

You Can Now Buy A Single McNugget To Celebrate Its 40th Birthday
McDonald's famous menu item, the McNugget, turns 40 this year. And cardiothoracic surgeons everywhere are celebrating.

Introducing Yahoo Blueprint: A New AI-powered Suite For Better Ad Performance & Optimisation
Yahoo Advertising has launched Yahoo Blueprint, a central AI suite that powers performance-based solutions within the Yahoo DSP. Fuelled by over 335 million logged in Yahoo users globally, Yahoo Blueprint enhances decisioning, makes AI more accessible, and serves as a results-driven guide throughout the campaign lifecycle to deliver better outcomes for advertisers. This new AI […]

Do Your Shopping On Company Time Says Cheesy Retro Spot From Amazon
Counting the days down till Christmas by doing as little as possible bar a spot of online shopping? This will resonate.

New Monash University Campaign Asks: Would Your Younger Self Be Proud?
Have a painful, inert sense you've f#cked your life up? Shine a light on things via this cavity searching campaign.

Foot Locker & Nike Recruit NBA’s Kevin Durant To Hype Up The Holidays
Haven't managed to shift the winter pudding? You'll lose two kilos just watching this Foot Locker campaign.

TEAM LEWIS Announces Rapid Expansion Of Its Australian Team With 10 New Hires
With a passion for redundancy stories, we can't see the Mumbrella team being too happy over this monster hire.

Icon & Snack Drawer Appointed Meta PR Agencies Of Record
Meta unveils its new local PR agencies. So be warned if you plan to publicly say anything unsavoury about Mr Zuckerberg.

Publicis Sapient Announces Launch Of PS Hummingbird, Expanding Its Generative AI And Cloud Capabilities With Microsoft
Publicis Sapient, a digital business transformation company, today announced the launch of a new joint venture with Tquila called PS Hummingbird. Lead image: Nigel Vaz CEO of Publicis Sapient The partnership with Tquila, with whom Publicis Sapient has collaborated on several other ventures, will extend Publicis Sapient’s generative AI offerings powered by Microsoft Azure, Microsoft […]

oOh!media Names Lisa Green As Its chief People & Culture Officer
Planning on getting boozed up at the oOh! Chrissie bash? Beware, a new chief people & culture officer is in town.

Anathea Ruys Sits Down For 10 Fast Questions On Agency Culture & Renovating Her Laundry Room
It's 10 quick ones with UM's Anathea Ruys. Even quicker if you've recently completed a speed reading course.

Keep Left Launches Brand Campaign ‘When ‘It’ Happens’ For PassportCard
Keep Left is, of course, a creative agency and not some rabid Karl Marx sympathiser.

Thinkerbell Turns Iconic Menulog Delivery Bag Into A Star-Studded Handbag For Christina Aguilera
Work with Gen Xers who constantly whine "music was better in my day"? Two words today - Christina and Aguilera.

IMAA Announces New Board For 2024
Indie industry body unveils its 2024 board. Promises to continue to highly irritate the holding companies.

Havas & Reckitt Unleash “Flyhunt” Campaign For Mortein, Turning Billions Of Flies Into Billions Of Ads
Despite our love of animals and the rise in veganism, it never extended to gassing flies, did it?

Why Marketers Are Leaving Millions On The Table With Inefficient Tech Stacks
Worried you've got inefficient tech stacks? Discover the awful truth here. It'll be no help for inefficient colleagues.

REVEALED: Australia’s Greatest-Ever Ad!!!
You voted and now B&T can reveal Australia's greatest EVER ad! Yes, Ali Baba Kebabs can feel rightly aggrieved.

The Royals & Ryvalmedia Win Big In B&T’s Top-Performing Agencies For November
Which agency chiefs will be collecting their Christmas bonuses? Discover the truth with this 'who's hot' barometer.

George P. Johnson Announces Leadership Changes
Changes at the top at George P. Johnson today. The middle and the bottom given the order to stand down.

Monday TV Ratings: The 1% Club Scores Seven A Win
Game shows continuing to rate well with TV viewers. Yet, that's not to say we need Andrew O'Keefe back anytime soon.

Free TV Comes Out Swinging Over Sports Rights After Amazon Snares The Cricket
Industry body says free TV sports rights are under threat. Meanwhile Wallabies declare they've all but given up.

Westpac Shows Optus How To Apologise
Westpac delivers on its crisis communication. Also see Westpac board trying to save their collective arses.

Triple J Announces Hottest 100 2023 Dates
This year's Hottest 100 deets announced. With B&T predicting big things for Nollsy's KFC ad.

A Professional Cheese Sculptor Stars For Wacky Ads For US University
Hating the job right now? These uni ads could (A) inspire you to new things or (B) give you a laugh, albeit a brief one.

Don’t Be THAT Perfectionist….Enter B&T’s 30 Under 30 Awards, Presented By Vevo, Now!
Work with people who endlessly say "things were better in my day"? Sounds like you're a real contender for 30 Under 30.

We Are Warriors & R/GA To Produce City Of Sydney’s Calling Country & New Year’s Eve Fireworks
Social Indigenous Enterprise We Are Warriors (WAW), supported by creative innovation studio R/GA Australia, has been selected to produce the City of Sydney’s New Year’s Eve Calling Country live performance as part of the 9pm firework show. Lead image L-R: WAW co-founders Ben Miles & Nooky. The performance will feature a special Welcome to Country […]

Data Is King. So How Can Marketers Survive Privacy Reforms?
There's a fine line between proper use of customer data and a $50K fine from the ACCC. Save your cash with this read.

Chery Launches New Tiggo 7 Pro In Australian Market With Creative Campaign Via Chello
Chinese EVs continuing to flood into the Aussie market. Clearly no reciprocal agreement with our wine and barley.

Isuzu UTE Extends A-Leagues Partnership Through To 2026
Isuzu UTE extends its A-Leagues partnership. Also desperately hoping the fans don't behave like dickheads.