若者向け金融サービス市場:2003年

OVERVIEW

INTRODUCTION

Young adults are passing through a significant transition phase, which forces them to accept responsibility for their own lives and financial situation for perhaps the first time in their lives. These consumers consequently have a wealth of needs as well as much less developed brand preferences, making them an ideal target for FS companies looking to 'buy' the consumers of the future.

SCOPE

• 1997 to 2007 data on the size and development of 18-24 year olds including the sub-groups students and the newly employed, across 7 European countries
• Key data and analysis of the number of young adults living with parents and cohabiting with partners in 1997, 2002 and 2007, by country
• Survey-based analysis of young adultsEfinancial attitudes covering FS provider selection, saving and borrowing habits and retirement planning
• Implications for FS companies and specific action points detailing how to maximize the opportunities and improve marketing to this consumer group

REPORT HIGHLIGHTS

In 2002 there were 36.4 million individuals aged between 18 and 24 years. As this group is set to remain the most sizeable of all the consumer groups in the 0-24 age bracket going into 2007, and set to experience continued growth in total gross income, the young adult market remains a significant target for FS providers for the next five years.

With 24.9 million young adults living with their parents in 2002, this is by far their most important living arrangement. However, this overriding trend is as much a result of constraint Edue to finances - as it is personal preference. There is therefore a substantial demand for providing the financial means for young adults to leave home.

72.1% of 18-29 year olds are at least somewhat concerned that they will not have enough money to retire, but more than half have not yet started to save. This provides significant scope for FS companies to exploit fears over insufficient pension funds and to acquire the large number of young adults who have not yet set up pension planning schemes.

REASONS TO PURCHASE

• Get inside the heads of young adults, understand their attitudes and thinking to ensure effective and tailored targeting
• Use the analysis of young adults - attitudes to long-term planning to help your company fill the gap in the market for retirement planning
• Use Datamonitor's specific action points to identify key considerations and help refine and improve your marketing to young adults

CHAPTER 1 INTRODUCTION

CHAPTER 2 MARKET CONTEXT

• A demographic profile
• Two key groups
• Students
• Newly employed

CHAPTER 3 LIVING ARRANGEMENTS

• Introduction
• A snapshot of living arrangements
• Young adults living at home
• Size and development
• Key issues
• Cohabitation among young adults
• Size and development

CHAPTER 4 FINANCIAL ATTITUDES AND TRENDS

• FS provider selection
• Saving habits
• Retirement planning
• Borrowing habits

CHAPTER 5 ACTION POINTS

• Young adults as a consumer group

CHAPTER 6 APPENDIX

• Supplementary data
• Research methodology
• Future readings
• Datamonitor Reports
• Do you need further information?
• Datamonitor financial services consulting
• FS writing team

LIST OF TABLES

• Table 1: Young adults (aged 18-24) by country, 1997-2007
• Table 2: Overall European young adult consumer group size, 1997-2007, millions
• Table 3: Gross income comparisons between 18-24 year old groups (€ per capita and total €bn), 2002-2007
• Table 4: Total Student population (aged between 18 and 24 years old) in millions, 1997-2007
• Table 5: Students (18-24 years old) ・male/female splits, 1997-2007
• Table 6: Total Newly Employed population aged between 18 and 24 years old (millions), 1997-2007
• Table 7: Newly Employed (18-24 years old) male/female splits, 1997-2007
• Table 8: Estimated probability of living at home by selected income levels
• Table 9: Young adults cohabiting in Europe, 1997-2007
• Table 10: Young adults・financial reliance on parents
• Table 11: Living arrangements of young adults, 1997
• Table 12: Young adults living at home, 1997-2007
• Table 13: Financial decision making amongst co-habiting 18-29 year olds
• Table 14: Factors influencing young adults・(18-24) choice of provider
• Table 15: The most important factor influencing the choice of student account/provider
• Table 16: Level of savings amongst young adults (18-29)
• Table 17: Young adults・(18-29) savings situation for retirement
• Table 18: Retirement savings vehicle preferences among young adults (18-29)
• Table 19: I知 afraid I won稚 have enough money to retire, 18-29 year olds
• Table 20: Lender preferences among young adults (18-29)

LIST OF FIGURES

• Figure 1: Young adults (aged 18-24) by country, 1997-2007
• Figure 2: Living arrangements of young adults, 1997
• Figure 3: Young adults living at home, 1997-2007
• Figure 4: Financial decision making among co-habiting 18-29 year olds
• Figure 5: Young adults (18-29) consider the cheapest/best rates to be the most important factor when choosing a financial services provider
• Figure 6: Most students choose their student bank account due to experience with a provider
• Figure 7: Young adults (18-29) are saving very little
• Figure 8: Although concerned about retirement, more than half of young adults (18-29) have not started saving
• Figure 9: Pensions are still the most popular, but property is hot on its heels for young adults・retirement planning
• Figure 10: Young adults would rather turn to their parents for a loan than their bank