Banking on the next generation

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B A N K I N G O N T H E N E X T G E N E R A T I O N RELEVANT Provide Gen Z with offers and rewards that are relevant to them Getting this right can feel a bit hit or miss, so brands should keep up-todate with the evolving attitudes and preferences of 16-24s. VOXI, Vodafone’s mobile network aimed at under 30’s, has announced a new rewards programme that encompasses both relevance and regularity. - food, fashion, music, entertainment and festivals. The first VOXI Drop is a free Time Out More card, which would usually cost you £29.99 – appealing for Gen Z who are always on the look out for new experiences. It gives customers exclusive freebies and offers every month. Freebies and offers will be available on things that matter to young people 22 1
B A N K I N G O N T H E N E X T G E N E R A T I O N LITTLE & OFTEN Gen Z aren’t spending on big flashy items and therefore don’t expect extravagant rewards - a little goes a long way! Superdrug’s loyalty card lets customers spend as little as 100 points, which is £1, on their purchase at the till. £1 off may not sound like an exciting rewards, but to Gen Z who are money-conscious, a little goes a long way. Customers can even pay partly with points and partly with cash - this means they don’t have to wait too long before they start seeing the savings. DID YOU KNOW... 6 6 % o f t h e 1 3 - 1 5 y r o l d s w e s u r v e y e d w o u l d p r e f e r r e g u l a r , s m a l l e r o f f e r s c o m p a r e d t o l e s s f r e q u e n t , b i g g e r o f f e r s . Source: State of the Youth Nation, May 2019 23
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Banking on the next generation

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