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The Inflection Point Series (IPS), a series of nine reports published
by Market Platform Dynamics, delivers critical new thinking on the
business challenges facing the payment industry today.
Directed to both emerging and existing industry players, IPS prepares today's industry leaders for the challenges they will face in the turbulent years ahead.
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If you're interested in this
topic and the reports
in the Inflection Point Series,
please e-mail us.
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ABOUT THE NEXT REPORT |
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Greenfields or Landmines?
Paving the Way for China's Emergent Payment Card Industry |
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China’s payment industry is one of the fastest growing in the world. Debit cards continue to increase in popularity and credit is finally starting to take root. As new payment channels emerge and the policy environment develops, China is poised to become a formidable player on the global stage. |
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| Report#: 0614 |
June 2006 |
Pages: 20 |
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Generations X and Y: Path to the Future or Distinction without a Difference?
 By David Evans, Shane Pederson, and Karen Webster
The future of the payment card industry, many believe, will be defined by the preferences of those who bear the generational labels “X” and “Y”. These generations have already made their mark on many consumer brands and represent the consumer marketer’s biggest opportunity. Loyal they are not, but technology-savvy they clearly are. In fact, technology is a driver, influencer or enabler of many of their purchasing decisions. Understanding, and then anticipating, how they would like to buy and borrow, however, requires an understanding of the events and the environment that has shaped their attitudes about money, buying and borrowing.
These two generations are worth consideration because of their sheer numbers. They account for nearly half of the U.S.’s population and nearly 60 percent of its personal income. They have an important economic influence and are a critical market for this marvelous business we’re in. As payment technologies emerge, these generations will account for a larger and larger part of the consumers who drive their success.
In this report, we use Gen X and Gen Y as a springboard for discussing the future of the payment card industry. We rely on two sources of data for analysis. The first is data from the Federal Reserve’s Survey of Consumer Finances on household purchasing and financing behavior from 1983 to 2004. The second is data from Market Platform Dynamics’ Gen X and Y payment and technology study of 4,000 individuals ages 16 to 43 from first quarter 2006.
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WHAT YOU WILL KNOW AFTER READING THIS REPORT |
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1. The importance of Generations X and Y to the payment card industry.
2. The relationship between their technology adoption and their preferences for new payment industry form factors.
3. The payment behaviors of 20, 30 and 40 year olds over the last three decades.
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© 2006 Market Platform Dynamics  One Main Street Third Floor Cambridge, MA 02142 Tel: +1 617.374.1337 Fax: +1 617.374.1339 |
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