What Banks Need to Know About Gen Alpha

How Banks Can Lay Foundations Today to Capture Tomorrow’s Consumers

Report by Maria Elm  | Apr 16, 2024
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Executive Summary
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Table of Contents
Executive Summary
It’s not too early for banks to put Gen Alpha on their radar
Banks’ marketing must align with the values of Gen Alpha—and their parents
Banks can win Gen Alpha’s attention on mobile and via video
How can marketers keep Gen Alpha engaged?
What’s next? Teen banking apps
Sources
Media Gallery
About This Report
Gen Alpha is on track to become the largest generation. Banks must start building relationships with children today to convert them into customers as they grow up.
Topics
Financial Services
Banking
United States
Table of Contents
Executive Summary
It’s not too early for banks to put Gen Alpha on their radar
Banks’ marketing must align with the values of Gen Alpha—and their parents
Banks can win Gen Alpha’s attention on mobile and via video
How can marketers keep Gen Alpha engaged?
What’s next? Teen banking apps
Sources
Media Gallery

Gen Alpha is expected to be the most populous generation ever, with the oldest members entering adulthood in 2031. That gives banks valuable time to calibrate their marketing and relationship-building strategies to appeal to this digital generation.

Key Question: Who are Gen Alphas, and how can banks start building relationships with this next generation of customers?

Platforms/Channels on Which US Children Recall Seeing Commercials Recently, Oct 2023 (% of respondents)
E-Mail ChartDownload

Key Stat: Digital video will be the prime arena for banks to forge relationships with Gen Alpha: Over half (51%) of US children recall seeing an ad recently on YouTube, far outstripping all other channels, per an October 2023 Precise TV survey.

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Table of Contents

  1. Executive Summary
  2. It’s not too early for banks to put Gen Alpha on their radar
  3. Banks’ marketing must align with the values of Gen Alpha—and their parents
  1. Banks can win Gen Alpha’s attention on mobile and via video
  2. How can marketers keep Gen Alpha engaged?
  3. What’s next? Teen banking apps
  1. Sources
  2. Media Gallery

Charts in This Report

Platforms/Channels on Which US Children Recall Seeing Commercials Recently, Oct 2023 (% of respondents)Values That Are Important to US Children vs. Teens/Young Adults, Nov 2022 (% of respondents in each group)
Digital Activity Adoption Among US Children, 2024 (% of internet users)

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authors

Maria Elm

Contributors

Suzy Davidkhanian
Principal Analyst, Retail & Ecommerce
Tiffani Montez
Principal Analyst, Banking
Jennifer Pearson
VP, Research
Amy Rotondo
Director, US Research