Business
Tech-savvy, disloyal and debt-shy: Banking’s battle for the young heats up – Sydney Morning Herald
Younger customers are shaking up the lucrative world of retail banking and challenging the big four’s stranglehold.
Millennials overtaking the boomers
Millennials, defined as those born between 1981 and 1996, already make up about a third of all consumer spending, according to Afterpay-commissioned research by AlphaBeta. Their share of the market is tipped to grow even larger in years to come.
I think the millennials by 2025 will be much bigger than baby boomers, and if you include the subsequent generations theyll be at least 20 per cent bigger than baby boomers, says director of AlphaBeta Andrew Charlton, who…
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