PUBLISHER: GlobalData | PRODUCT CODE: 1599152
PUBLISHER: GlobalData | PRODUCT CODE: 1599152
This report uses data from GlobalData's 2024 Financial Services Consumer Survey to assess how consumer demand for financial services and characteristics change as they go through life and different life events occur. It begins with an analysis of early family life, either the birth of a first child or marriage, before turning to the end of family life, be it through separation or children moving out. The report looks at consumers preparing to retire, assessing how this life stage changes their opinion of their main bank and how often they look to use its services. Other life stages assessed include the first property purchase, suffering a health issue, and moving to another country.
Consumers starting a family, either through marriage or the birth of a first child, prioritize saving to buy a house. Consumers who are about to marry or recently married are more open to trying new or innovative products and are focused on improving their credit scores, opening opportunities for players offering creative or novel budgeting or financial literacy tools.