Sweden Retail Banking Analysis by Consumer Profiles (Older Gen Z, Older Gen X, Older Millennial, Younger Millennial and Small Business Owner)

Sweden Retail Banking Analysis by Consumer Profiles (Older Gen Z, Older Gen X, Older Millennial, Younger Millennial and Small Business Owner)

Summary

Sweden Retail Banking Analysis by Consumer Profiles (Older Gen Z, Older Gen X, Older Millennial, Younger Millennial and Small Business Owner) looks at six different customer personas in the Sweden market. It offers a deep dive into their financial goals, unmet needs, and banking preferences while providing actionable steps for financial providers to take to achieve high levels of retention and cross-sell effectively and accordingly.

Based on the consumer profiles covered in this report a few general results can be gleaned. For example, most customers conduct their banking digitally either on a mobile app or via a provider’s website. However, despite the digitalization of retail banking, some consumers still hold a reasonably strong preference for the use of branches when it comes to big tasks like applying for a mortgage. This report also helps foster an understanding of the preferences and usage patterns of unique demographics. For example, Lee - a middle-aged professional thinking about retirement -much prefers using a credit card to other payments methods and is unlikely to want to pay for a premium account.

Scope

• Across all consumer profiles, online and mobile banking were the two most commonly used channels.
• Three out of five consumer profiles strongly preferred the use of branches to apply for mortgages
• Retail consumers who have relatively low incomes are unlikely to want to pay for premium features and typically see loyalty rewards as an area their provider can improve on.

Reasons to Buy

• Understand how consumer preferences vary between different types of consumer.
• Access the latest consumer survey data on channel behavior, provider preferences, and product holdings.
• Identify the areas for improvement that matter to particular consumers.
• Benefit from the provision of actionable steps that can help your business target specific customer profiles.