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June 21, 2022

User experience is crucial for retaining the growing investment assets of New Zealand millennials

By GlobalData Financial

New Zealand millennials are a promiscuous bunch, relying on an increasingly large number of different types of providers for their investment needs. Creating loyalty among this segment is critical as competition for share of wallet is on the rise.

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How attractive are current investment opportunities in Europe?

Europe has been identified as one of the most favorable regions for investors, seeing high investment activity in the past year. Most of these investments have been through Debt Offering, valued at close to $700 billion. The region has provided attractive investments in a diverse set of companies. Companies who tend to major themes such Digital Media, Cloud, Artificial Intelligence, E-commerce, and Big Data are recording the highest number of deals, with Digital Media recording close to 2,000 deals. However, GlobalData’s whitepaper offers a full view of the market, analyzing less successful or attractive points of investment as well, examining statistics on Equity Offering investments and PE/VC deals. Understand how government agencies for economies around the world use GlobalData Explorer to:  
  • Track the M&A and Capital Raising volumes into their target market
  • Identify the top sectors in the target market attracting the investments
  • For any investment segment, identify the top Investors inside and outside the target economy that are already investing in the Segment
  • Assess and showcase the growth potential for various Industries in the target economy
Don’t miss out on key market insights that can help optimize your next investment – read the report now.
by GlobalData
Enter your details here to receive your free Report.

GlobalData’s 2022 Financial Services Consumer Survey found that baby boomers make use of an average of 1.4 types of providers. Among the millennial segment this proportion jumps to 2.1. This poses a critical challenge for traditional investment providers. The same survey also shows that only 25% of millennials would prefer to invest via their bank (be it through an advisor or a platform), compared 36% of baby boomers.

Indeed, only 17% of baby boomers would look beyond traditional banks and building societies or financial intermediaries when opening new investments. In stark contrast, 60% of millennials would favour non-traditional players. This increasingly matters as the rate of investing among New Zealand millennials rose from 35% in 2018 to 46% in 2022. This age cohort is increasingly coming to dominate the investment market.

To avoid losing younger investors to new entrants, New Zealand’s incumbents will have to work on their brand image and offerings in order to create loyalty. The single most important attribute millennials look for in a financial services provider is an easy-to-use digital banking platform. 43% of New Zealand millennials value this, according to GlobalData’s 2022 Financial Services Consumer Survey, meaning it is the single most important change providers can make. No matter how good your product range, wealth managers need to be taking into account how easy it is for their DIY or digital clients to invest with them. Increasingly large sums of assets under management are at stake, and investments in technology are critical to remain relevant.

New Zealand millennials
Source: GlobalData

Free Report
img

How attractive are current investment opportunities in Europe?

Europe has been identified as one of the most favorable regions for investors, seeing high investment activity in the past year. Most of these investments have been through Debt Offering, valued at close to $700 billion. The region has provided attractive investments in a diverse set of companies. Companies who tend to major themes such Digital Media, Cloud, Artificial Intelligence, E-commerce, and Big Data are recording the highest number of deals, with Digital Media recording close to 2,000 deals. However, GlobalData’s whitepaper offers a full view of the market, analyzing less successful or attractive points of investment as well, examining statistics on Equity Offering investments and PE/VC deals. Understand how government agencies for economies around the world use GlobalData Explorer to:  
  • Track the M&A and Capital Raising volumes into their target market
  • Identify the top sectors in the target market attracting the investments
  • For any investment segment, identify the top Investors inside and outside the target economy that are already investing in the Segment
  • Assess and showcase the growth potential for various Industries in the target economy
Don’t miss out on key market insights that can help optimize your next investment – read the report now.
by GlobalData
Enter your details here to receive your free Report.

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