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Research & Thought Leadership Understanding Gen Z Synchrony’s 2018 Research Findings June 2018

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Page 1: Understanding Gen Z · 2018-09-10 · Z purchasing power Collective Gen Z purchasing power, factoring in earned income Gen Z indirect spending power, due to influence on household

Research & Thought Leadership

Understanding Gen Z

Synchrony’s 2018 Research Findings

June 2018

Page 2: Understanding Gen Z · 2018-09-10 · Z purchasing power Collective Gen Z purchasing power, factoring in earned income Gen Z indirect spending power, due to influence on household

©2018 Synchrony. All rights reserved. No reuse without express written consent from Synchrony.

Planning Online Immersion Meet-Ups Online Survey

Roadshow Gen Z

Presentations

SEPTEMBER 2017 OCTOBER 2017 OCTOBER/NOVEMBER 2017 DECEMBER 2017 MARCH 2018

Gen Z Online Immersion

• 75 Gen Z recruits

• 14-day online immersion

• Ages 16-22

• October 7-20, 2017

Meet-Ups

• 16 Gen Z recruits

• In-home interview, followed by

shopalong

• 4 recruits in each of 4 regions:

NYC metro, Atlanta, Indianapolis,

Orange County

• 2 weekends in 2 cities: October

28-29 & November 11-12, 2017

4,012 Online Survey respondents

• Gen Z: 2,009

• Young Millennials: 501

• Old Millennials: 501

• Gen X: 500

• Boomers: 501

• Census balanced based on region

and gender per generation group

• Collected between December 15,

2017 and January 2, 2018

• LOI 15 minutes (median)

• Gen Z respondents weighted

based on age and gender

Parents Online Immersion

• 12 parents of teen Gen Z recruits

• 3-day online immersion

• Parents of Gen Z ages 16-18

• October 14-16, 2017

Methodology Summary

2

QUALITATIVE QUANTATATIVE

References to data sourced from external resources are cited with an asterisk (*) with full source information provided in Appendix.

All data sources without an asterisk is sourced from Synchrony’s original research.

All product names, logos, and brands are property of their respective owners. All company, product and service names used in

this presentation are for identification purposes only. Use of these names, logos, and brands does not imply endorsement.

Page 3: Understanding Gen Z · 2018-09-10 · Z purchasing power Collective Gen Z purchasing power, factoring in earned income Gen Z indirect spending power, due to influence on household

©2018 Synchrony. All rights reserved. No reuse without express written consent from Synchrony.

Why Focus On Gen Z?

3

$44

billion $143

billion

Collective Gen

Z purchasing

power

Collective Gen

Z purchasing

power, factoring

in earned

income

Gen Z indirect

spending

power, due to

influence on

household

purchasing

decisions*

• Gen Z is 26% of the U.S. population,

larger than Millennials by 3 million*

• Becoming the fastest-growing

generation in the workplace and the

marketplace in next 5 years*

• The most ethnically and racially

diverse generation in U.S. history

(48% non-Caucasian vs. 44%

Millennials)*

$333

billion

*See Appendix

Page 4: Understanding Gen Z · 2018-09-10 · Z purchasing power Collective Gen Z purchasing power, factoring in earned income Gen Z indirect spending power, due to influence on household

©2018 Synchrony. All rights reserved. No reuse without express written consent from Synchrony.

Highlights of Generational Differences

4

Global/National Event | Descriptors | Innovation*

1965 – 198236 – 53

Fall of Berlin Wall

Gulf War

AIDS

Independent

Free Agents

Internet, MTV

Mobile Phone

1983 – 199424 – 35

9/11 Attacks

Optimistic

Collaborative

Confident

Tech Savvy

Google, Facebook

Smartphone

1995 - 200414 – 23

Great Recession

Realist

High Expectations

Digital Natives

Apps

Social Games

Tablet Devices

BORN 1946 – 1964AGE 54 – 72

Vietnam

Moon Landing

Civil/Women’s

Rights

Experimental

Innovators

Hard Working

Personal

Computers

*See Appendix

Page 5: Understanding Gen Z · 2018-09-10 · Z purchasing power Collective Gen Z purchasing power, factoring in earned income Gen Z indirect spending power, due to influence on household

©2018 Synchrony. All rights reserved. No reuse without express written consent from Synchrony.

SUMMARY: 5 Ways Gen Z Differs From Millennials

1. A delay in adulting and shift in parenting approach post-

recession has led to Gen Z being quite naïve about financial

matters

2. Less intention to own traditional financial products (except

student loans) but highly connected to digital payment tools.

3. Prefers to shop and purchase in brick-and-mortar stores but

browses online.

4. Focuses more on everyday value and discounts vs. rewards

programs and lacks the understanding of how to garner value

from loyalty programs.

5. Feels less guilty about being connected to their devices

5

Page 6: Understanding Gen Z · 2018-09-10 · Z purchasing power Collective Gen Z purchasing power, factoring in earned income Gen Z indirect spending power, due to influence on household

©2018 Synchrony. All rights reserved. No reuse without express written consent from Synchrony.

Research & Thought Leadership

1. Naïve About Financial Matters

Gen Z dreams big for its future but has little

understanding of what it will take besides college loans

6

Page 7: Understanding Gen Z · 2018-09-10 · Z purchasing power Collective Gen Z purchasing power, factoring in earned income Gen Z indirect spending power, due to influence on household

©2018 Synchrony. All rights reserved. No reuse without express written consent from Synchrony.

Effects of Great

Recession color

Gen Z’s outlook on

financial products

7

“Well, we went through a

bankruptcy…8 years ago. So yeah,

that was not good… Rather than

$20,000 I'll put $5,000 [on credit

cards now].”

– Robby’s mother, Orange County

“[Learned from my mother] don’t

get a credit card… Maybe I'll

probably get one when I'm older

and more responsible, probably,

but I don't want to get one now.”

– Robby, Age 17, Orange County

Page 8: Understanding Gen Z · 2018-09-10 · Z purchasing power Collective Gen Z purchasing power, factoring in earned income Gen Z indirect spending power, due to influence on household

©2018 Synchrony. All rights reserved. No reuse without express written consent from Synchrony.

Much of Gen Z’s

exposure to financial

products is delayed

8

“[My parents] definitely have groceries

for me, they take me to dinner. I get

some extra money here and there. I

don’t have to pay rent…I know when I

get to a certain point, I am going to have

to pay my car insurance and health

insurance and stuff like that.”

– Brooke, Age 18, Indianapolis

Page 9: Understanding Gen Z · 2018-09-10 · Z purchasing power Collective Gen Z purchasing power, factoring in earned income Gen Z indirect spending power, due to influence on household

©2018 Synchrony. All rights reserved. No reuse without express written consent from Synchrony.

By paying for their credit card bill, parents may be stagnating Gen Z’s financial maturity

9

Gen Z under

age 18 with use

of a credit card:

Gen Z pays

the full balance

Gen Z sometimes/

typically contributes

Parents pay

the full balance

Who pays for

the credit card

bill?30% 29% 41%

30%

70%

Has access to

credit card

No access

Page 10: Understanding Gen Z · 2018-09-10 · Z purchasing power Collective Gen Z purchasing power, factoring in earned income Gen Z indirect spending power, due to influence on household

©2018 Synchrony. All rights reserved. No reuse without express written consent from Synchrony.

A majority of Gen Z plan to own a house (97%)

and a car (92%)*

10

27% 43% 48%

Gen ZYounger

Millennials

Older

Millennials

R E S I D E N T I A L M O R T G A G E

25% 40% 47%

A U T O L O A N

But few expect a mortgage or auto loan in their future

Likelihood to Own in Future (%4-5)

*See Appendix

Page 11: Understanding Gen Z · 2018-09-10 · Z purchasing power Collective Gen Z purchasing power, factoring in earned income Gen Z indirect spending power, due to influence on household

©2018 Synchrony. All rights reserved. No reuse without express written consent from Synchrony.

Research & Thought Leadership

2. Less Intention to Own Traditional Financial Products

(Except student loans)

11

Page 12: Understanding Gen Z · 2018-09-10 · Z purchasing power Collective Gen Z purchasing power, factoring in earned income Gen Z indirect spending power, due to influence on household

©2018 Synchrony. All rights reserved. No reuse without express written consent from Synchrony.

Besides student loans, Gen Z’ers expectation of owning financial products are lower than Millennials and Gen X

12

Likelihood of owning or using in the future (% Agree)

27

0%

20%

40%

60%

80%

100%

Residential Mortgage

18

Home Equity Loan orLine of Credit

16

Pay Day or CashAdvance Loan

25

Auto Loan

41

0%

20%

40%

60%

80%

100%

Student Loans

24

Personal Loans

11

Title Loan

11

Online installmentloans

Gen Z

Young Millennials

Old Millennials

Gen X

Boomers

82% intend to go

to college*

*See Appendix

Page 13: Understanding Gen Z · 2018-09-10 · Z purchasing power Collective Gen Z purchasing power, factoring in earned income Gen Z indirect spending power, due to influence on household

©2018 Synchrony. All rights reserved. No reuse without express written consent from Synchrony.

Share of students graduating with debt has increased:

• 66% of college seniors in 2011-2012 took out a loan

• 50% of college seniors in 1989-1990 took out a loan*

Gen Z: College, student loans and debt

$9,450

$29,400

$37,200

0

5,000

10,000

15,000

20,000

25,000

30,000

35,000

40,000

1993-Gen X 2012-Millennials 2016 Gen Z

Avg. student debt at

graduation*40 4138

32

26

0%

20%

40%

60% % Enrolled in College*

Ge

n Z

Yo

un

g M

ille

nn

ial

Ge

n X

Bo

om

er

Old

er

Mill

en

nia

l

More Gen Z are enrolled in college than Boomers in 1970. College enrollment has steadily increased over the years and generations

From 1980-2014, average college tuition grew by

~260%, compared to the Consumer Price Index

increase of 120%*

*See Appendix13

Page 14: Understanding Gen Z · 2018-09-10 · Z purchasing power Collective Gen Z purchasing power, factoring in earned income Gen Z indirect spending power, due to influence on household

©2018 Synchrony. All rights reserved. No reuse without express written consent from Synchrony.

Gen Z’ers use few traditional financial products, but that is most likely due to their life stage

39%

55%

62% 61%

67%

42%

65%

71%

75%

83%

Gen ZYoung

Millennials

Old

MillennialsGen X Boomers

Savings

Account

Checking

Account

14

Page 15: Understanding Gen Z · 2018-09-10 · Z purchasing power Collective Gen Z purchasing power, factoring in earned income Gen Z indirect spending power, due to influence on household

©2018 Synchrony. All rights reserved. No reuse without express written consent from Synchrony.

Gen Z’ers show a preference for using cash or debit card above all other payment methods

15

“[A debit card is better than a credit card because] you are

not tempted to spend more. The debit card uses the actual

money from your account. I think the credit card does too,

but over time you have to pay it back.”

– Eli, Age 16, Indianapolis

43%

60% 60%55% 53%

79%

73% 74% 75%

70%

Debit Card

Cash

Credit Card

Gen ZYoung

Millennials

Old

MillennialsGen X Boomers

67%

54% 55% 57%

50%

(Preference: Among those who own the product)

Page 16: Understanding Gen Z · 2018-09-10 · Z purchasing power Collective Gen Z purchasing power, factoring in earned income Gen Z indirect spending power, due to influence on household

©2018 Synchrony. All rights reserved. No reuse without express written consent from Synchrony.

Gen ZYoung

Millennials

Old

MillennialsGen X Boomers

Influenced by life-stage and lack of understanding, Gen Z’ersexpectation of owning credit cards are lower than Millennials / Gen X

16

55%

61%65%

71%68%

General

Purpose

Credit Card

Store

Credit Card

34% 33%

44%47%

43%

Likelihood of owning or using in the future (% Agree)

Page 17: Understanding Gen Z · 2018-09-10 · Z purchasing power Collective Gen Z purchasing power, factoring in earned income Gen Z indirect spending power, due to influence on household

©2018 Synchrony. All rights reserved. No reuse without express written consent from Synchrony.

The majority of Gen Z may not yet be utilizing traditional financial options but they are highly connected to digital financial tools.

17

“Cash App. [It’s] where you can transfer money into

someone else’s account. I use that in school when people

go get lunch and I’m in class.”

– RaKya, Age 17, Atlanta

(has a checking account & debit card, no credit card)

39%42%

vs

61%

26%

21%

Have a

checking account

Have a

savings account

Use PayPal

Use mobile wallet

(Starbucks,

ApplePay)

Use peer-to-peer

payments (Venmo,

Cash App)

©2018 Synchrony. All rights reserved. No reuse without express written consent from Synchrony.

Page 18: Understanding Gen Z · 2018-09-10 · Z purchasing power Collective Gen Z purchasing power, factoring in earned income Gen Z indirect spending power, due to influence on household

©2018 Synchrony. All rights reserved. No reuse without express written consent from Synchrony.

Research & Thought Leadership

3. Shop in-stores and browse online

Gen Z’ers seek seamless integration of online and

brick-and-mortar shopping experience

18

Page 19: Understanding Gen Z · 2018-09-10 · Z purchasing power Collective Gen Z purchasing power, factoring in earned income Gen Z indirect spending power, due to influence on household

©2018 Synchrony. All rights reserved. No reuse without express written consent from Synchrony.

Growing up as digital natives, Gen Z does not find online shopping as much of a draw and, as a result, says they prefer to shop in-store

19

64% prefer shopping in store vs. online*

75% prefer shopping in stores with engaging in-store experiences*

Shops online check availability, compare styles and options, and

find local store

Preference is most likely also correlated to heavy cash and debit usage among Gen Z- making it less

friendly to buy and return items online

*See Appendix

Page 20: Understanding Gen Z · 2018-09-10 · Z purchasing power Collective Gen Z purchasing power, factoring in earned income Gen Z indirect spending power, due to influence on household

©2018 Synchrony. All rights reserved. No reuse without express written consent from Synchrony.

Gen Z prefers shopping in-store for most product categories. 1/4th

prefers shopping online for appliances, electronics and music

90%

66%

63%

59%

58%

53%

53%

51%

49%

38%

11%

4%

16%

20%

18%

15%

15%

26%

19%

24%

In-store

Online

20

Groceries

Furniture

Everyday household items (non-grocery)

Accessories/Shoes

Clothes

Cosmetics, health/beauty products

Automotive supplies

Appliances/Electronics

Sporting goods/Fitness equipment

Music equipment

Page 21: Understanding Gen Z · 2018-09-10 · Z purchasing power Collective Gen Z purchasing power, factoring in earned income Gen Z indirect spending power, due to influence on household

©2018 Synchrony. All rights reserved. No reuse without express written consent from Synchrony.

Nearly 1 in 2 Gen Z believe the experience of buying something is just

as important as the product itself

21

44% Buying experience is = product itself

©2018 Synchrony. All rights reserved. No reuse without express written consent from Synchrony.

Page 22: Understanding Gen Z · 2018-09-10 · Z purchasing power Collective Gen Z purchasing power, factoring in earned income Gen Z indirect spending power, due to influence on household

©2018 Synchrony. All rights reserved. No reuse without express written consent from Synchrony.

While Gen Z is loyal to certain brands, in-store customer experience is still paramount

22

“GO-TO”

RETAILERS…

EVERYDAY

DEALS

FLEXIBLE

RETURN

POLICY

SUPERIOR

CUSTOMER

SERVICE

ENGAGING

EXPERIENCE

RELEVANT

BRANDS

“GO-TO” RETAILERS…

Page 23: Understanding Gen Z · 2018-09-10 · Z purchasing power Collective Gen Z purchasing power, factoring in earned income Gen Z indirect spending power, due to influence on household

©2018 Synchrony. All rights reserved. No reuse without express written consent from Synchrony.

Research & Thought Leadership

4. Focuses more on everyday good value and discounts vs. rewards

Gen Z’ers lack awareness and understanding of how to garner value from

retail reward programs

23

Page 24: Understanding Gen Z · 2018-09-10 · Z purchasing power Collective Gen Z purchasing power, factoring in earned income Gen Z indirect spending power, due to influence on household

©2018 Synchrony. All rights reserved. No reuse without express written consent from Synchrony.

Gen Z’ers are motivated to shop with discounts and savings

24

“You don’t necessarily have to pay full

price. You can find quality and a good price

on the sale rack. Marshalls and TJ Maxx

are also some of my favorites and I can

find a lot of the brands that they carry like

Von Maur and Nordstrom.”

– Brooke, Age 18, Indianapolis

Page 25: Understanding Gen Z · 2018-09-10 · Z purchasing power Collective Gen Z purchasing power, factoring in earned income Gen Z indirect spending power, due to influence on household

©2018 Synchrony. All rights reserved. No reuse without express written consent from Synchrony.

Gen ZYoung

Millennials

Old

MillennialsGen X Boomers

Gen Z’ers don’t yet equate credit rewards/loyalty programs to the discounts or savings they seek

55%

71% 72%

66%

57%

26%

35%

41%37%

28%

Having a brand

affiliated credit

card that earns

rewards makes

them more likely to

shop with that

brand

I believe brand

cardholders

receive special

treatment

25

Page 26: Understanding Gen Z · 2018-09-10 · Z purchasing power Collective Gen Z purchasing power, factoring in earned income Gen Z indirect spending power, due to influence on household

©2018 Synchrony. All rights reserved. No reuse without express written consent from Synchrony.

Research & Thought Leadership

5. These digital natives feel less guilt about being connected to their devices

26

Page 27: Understanding Gen Z · 2018-09-10 · Z purchasing power Collective Gen Z purchasing power, factoring in earned income Gen Z indirect spending power, due to influence on household

©2018 Synchrony. All rights reserved. No reuse without express written consent from Synchrony.

Regardless of where they shop, Gen Z’ers are heavy users of mobile devices

27

“I interact more with my smartphone than I do with people” (% agree)

“People are too connected to their devices these days” (% agree)

“I try to stay off my devices as much as possible when with others” (% agree)

38%31%12% 42%

68% 74% 79% 84%66%

50% 63%62%

62%

76%

43%

Gen Z Young

Mill.

Old

Mill.Gen X Boomers

Page 28: Understanding Gen Z · 2018-09-10 · Z purchasing power Collective Gen Z purchasing power, factoring in earned income Gen Z indirect spending power, due to influence on household

©2018 Synchrony. All rights reserved. No reuse without express written consent from Synchrony.

Research & Thought Leadership

Recommendations

28

Page 29: Understanding Gen Z · 2018-09-10 · Z purchasing power Collective Gen Z purchasing power, factoring in earned income Gen Z indirect spending power, due to influence on household

©2018 Synchrony. All rights reserved. No reuse without express written consent from Synchrony.

Connect with these digital natives where

they are

Prepare for high expectations around

a full, seamless digital experience

29

RETAIL OPPORTUNITY

©2018 Synchrony. All rights reserved. No reuse without express written consent from Synchrony.

Page 30: Understanding Gen Z · 2018-09-10 · Z purchasing power Collective Gen Z purchasing power, factoring in earned income Gen Z indirect spending power, due to influence on household

©2018 Synchrony. All rights reserved. No reuse without express written consent from Synchrony.

Make in-store shopping a breeze

30

…and an engaging, fun

way.

Surprise and delight with

constant changing

inventory, design and

messaging.

Ensure associates can

link to online experience

RETAIL OPPORTUNITY

©2018 Synchrony. All rights reserved. No reuse without express written consent from Synchrony.

Page 31: Understanding Gen Z · 2018-09-10 · Z purchasing power Collective Gen Z purchasing power, factoring in earned income Gen Z indirect spending power, due to influence on household

©2018 Synchrony. All rights reserved. No reuse without express written consent from Synchrony.

Embrace social media

31

Personalize deals/sales for each customer

RETAIL OPPORTUNITY

©2018 Synchrony. All rights reserved. No reuse without express written consent from Synchrony.

Page 32: Understanding Gen Z · 2018-09-10 · Z purchasing power Collective Gen Z purchasing power, factoring in earned income Gen Z indirect spending power, due to influence on household

©2018 Synchrony. All rights reserved. No reuse without express written consent from Synchrony.

Use credit conversations to drive

financial education around positives of financing and credit

cards

32

RETAIL OPPORTUNITY

©2018 Synchrony. All rights reserved. No reuse without express written consent from Synchrony.

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Research & Thought Leadership

Questions?

33

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Research & Thought Leadership

Appendix

34

Page 35: Understanding Gen Z · 2018-09-10 · Z purchasing power Collective Gen Z purchasing power, factoring in earned income Gen Z indirect spending power, due to influence on household

©2018 Synchrony. All rights reserved. No reuse without express written consent from Synchrony.

Secondary Research Sources

35

• Slide 12 Getting to Know Gen Z, Barnes & Noble

• Slide 13 National Center for Education Statistics

• Slide 13 5 Facts About Student Loans, Pew Research

Center

• Slide 13 College Has Gotten 12 Times More Expensive in

One Generation, Mother Jones

• Slide 13 Here’s How Much the Average Student Loan

Borrower Owes When They Graduate, CNBC

• Slide 13 This Chart Shows How Quickly College Tuition

Has Skyrocketed Since 1980, Business Insider

• Slide 19 The Next Generation of Retail, Interactions

• Slide 3 Meet Generation Z. Marketing’s Next Big Audience,

Marketo

• Slide 3 Gen Z & the Future of Money, c_space

• Slide 3 Meet Generation Z, the ‘millennials on steroids’ who

could lead the charge for change in the US, Business

Insider

• Slide 3 Move Over Millennials: Generation Z is the Retail

Industry’s Next Big Buying Group, Forbes

• Slide 3 The Power of Gen Z Influence, Barkley

• Slide 4 Adapted from UNC Kenan-Flagler Business School

• Slide 10 Nearly All of Generation Z See Homeownership in

Their Future, National Association of Realtors

• Slide 10 What’s Driving Gen Z, Autotrader and Kelley Blue

Book

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©2018 Synchrony. All rights reserved. No reuse without express written consent from Synchrony.

Base Notes

• Slide 9: Base: Gen Z population under age 18 who own or have ever used a

credit card (n=108) ● Q18: “Who is the legal cardholder of the credit card you

use?” ● Q19: “Who is responsible for paying the bill on the credit card you use?”

• Slide 10: Base: All respondents, series split in half. Residential Mortgage: Gen Z

(n=1,003), Young Millennials (n=252), Old Millennials (n=251). Auto Loan: Gen Z

(n=1,007), Young Millennials (n=250), Old Millennials (n=250). ● Q20: How likely

are you to own/use each of these types of financial products in the future? Top 2

Box Likelihood

• Slide 12: Base: All respondents, series split in half. Gen Z: Student Loan,

Residential Mortgage, Title Loan, Online Installment Loans (n=1,003). Home

Equity Loan, Personal Loans (n=1,005). Pay Day, Auto Loan (n=1,007). Young

Millennials: Student Loan (n=249). Residential Mortgage (n=252). Title Loan

(n=247). Online Installment Loans, Home Equity Loan, Pay Day (n=251).

Personal Loans (n=253). Auto Loan (n=250). Old Millennials: Student Loan,

Home Equity Loan, Auto Loan, Title Loan (n=250). Residential Mortgage, Pay

Day, Personal Loans, Online Installment Loans (n=251). Gen X: Residential

Mortgage, Title Loan (n=249). Pay Day, Auto Loan, Personal Loans, Online

Installment Loans (n=250). Student Loan, Home Equity Loan (n=251). Boomers:

Home Equity Loan, Personal Loans, Title Loan, Online Installment Loans

(n=250). Residential Mortgage, Pay Day, Auto Loan, Student Loan (n=251). ●

Q20: How likely are you to own/use each of these types of financial products in

the future?

• Slide 14: Base: All respondents: Gen Z (n=2009), Young Millennials (n=501),

Older Millennials (n=501), Gen X (n=500), Boomers (n=501) ● Q13: Which of

these types of financial products do you currently own or have ever used? Select

all that apply.

• Slide 15: Base: Cash – All respondents: Gen Z (n=2,009), Young Millennials

(n=501), Older Millennials (n=501), Gen X (n=500), Boomers (n=501). Those

who own/have ever used the respective payment options – Debit Card: Gen Z

(n=1,331), Young Millennials (n=386), Older Millennials (n=405), Gen X (n=378),

Boomers (n=410); Credit Card: Gen Z (n=826), Young Millennials (n=321), Older

Millennials (n=364), Gen X (n=379), Boomers (n=424) ● Q23: When shopping

for everyday items (like groceries or gas), how likely are you to use each of the

following tools to pay?

• Slide 16: Base: All respondents, series split in half. Store credit card: Gen Z

(n=1,006), Young Millennials (n=251), Old Millennials (n=251), Gen X (n=249),

Boomers (n=251). General Purpose credit card: Gen Z (n=1,004), Young Millennials

(n=249), Old Millennials (n=250), Gen X (n=249), Boomers (n=250). ● Q20: How

likely are you to own/use each of these types of financial products in the future?

Select all that apply.

• Slide 17: Base: All respondents: Gen Z (n=2009) ● Q13: Which of these types of

financial products do you currently own or have ever used? Select all that apply.

• Slide 20: Base: All respondents: Gen Z (n=2009) ● Q10: In general, how do you

prefer to shop for and purchase the following products?

• Slide 21: Base: Gen Z, series split in half (n=1,003). ● Q8: How much do you agree

or disagree with the following statements?: The experience of buying something is

just as important as the product itself. Top 2 Box Agree

• Slide 25: Base: All respondents, series split in half. Special treatment: Gen Z

(n=1,116), Young Millennials (n=278), Old Millennials (n=279), Gen X (n=276),

Boomers (n=279). ● Q21: How strongly do you agree or disagree with each of the

following statements? Brand affiliated credit cardholders receive special treatment.

Base: Those who own/have ever used a brand affiliated credit card that earns

rewards: Gen Z (n=227, Young Millennials (n=96), Old Millennials (n=163) ● Q21:

How strongly do you agree or disagree with each of the following statements?

Having a brand affiliated credit card that earns rewards makes me more likely to

shop with that brand.

• Slide 27: Base: All respondents, series split in half. Stay off devices: Gen Z

(n=1,004), Young Millennials (n=251), Old Millennials (n=250), Gen X (n=251),

Boomers (n=251). I interact more with my smartphone: Gen Z (n=1,003), Young

Millennials (n=250), Old Millennials (n=251), Gen X (n=250), Boomers (n=250). Too

connected to devices: Gen Z (n=1,004), Young Millennials (n=251), Old Millennials

(n=249), Gen X (n=250), Boomers (n=250). ● Q8: How much do you agree or

disagree with the following statements? Top 2/Bottom 2 Box Agree

36

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