Saturday 18 November 2017

AdLib: It's touch and go for Generation Z

Swim Ireland’s Leinster Open sea series, launched by Pawel Rudzinski and Vanessa Daws, is backed by Jones
Swim Ireland’s Leinster Open sea series, launched by Pawel Rudzinski and Vanessa Daws, is backed by Jones
New BoI youth ambassador Robbie Henshaw

Irish marketers can no longer ignore how Generation Z use money, a Bank of Ireland survey shows. Contactless use among the bank's customers is up 140pc - an extra 2.25m annual transactions. It's a huge hike from 2015 when one-in-three consumers didn't know what the word meant, even though most of them had a contactless card, Core Media reports.

The most interesting issue for marketers is who's adopting contactless. While millennials (consumers aged 30-39) remain the biggest users, it's Gen Z (under-21s) that is turning to it with a vengeance. Use among BoI's 15-19-year-old customers has grown 290pc and the amount they spend is up by as much as 409pc.

"Based on what we now know about this enigmatic generation, it makes sense," Thomas Geoghegan, Core Media strategic planner says. "Last November, our 'Future of Money' survey explored the readiness of four Irish generations to adopt emerging payment technologies like mobile wallets, peer-to-peer payments and connected devices.

"It showed millennials drive initial adoption of contactless cards and mobile wallets given their experience with banking and access to new phones and services. But it also showed millennials are tethered to the past, less likely to go too far, too soon beyond mobile wallets," Geoghegan added.

Gen Z are considered more at ease with where the world is headed, and are fervent believers in a cashless Ireland by 2030. They have an inherent trust in tech brands like Google and Apple to pay and bank. They expect brands like Snapchat and Facebook to do likewise.

Yet, ironically, younger Gen Zs are still tied to cash, living off the bank of mum and dad. However, BoI's latest data suggests that once they reach a certain age, digital natives come of age and see the benefits of quick and painless cashless transactions. Core found that Gen Z was more interested than other generations in apps that help them track their financial health. While already available in the US, through apps like Mint, changes to current European rules won't make this possible until next year, despite there being a demand.

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Speaking of BoI and young investors, Leinster and Ireland rugby player Robbie Henshaw has just been named as the bank's youth ambassador. Lack of finance is said to be the biggest challenge facing final year students when leaving college. Only one-in-10 ask their parents to help them.

The bank has launched a graduate helpline, a 5pc loan for job-starters, amounts of up to €14,000 at 5.6pc on loans for further education, zero banking fees for two years and a student credit card with free travel insurance.

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The GAA has launched its campaign to promote this year's All Ireland Football and Hurling Championships. Themed 'It's in Us All', the multimedia campaign was created by In the Company of Huskies, with Maxus in charge of media. AIB, Eir and SuperValu support the football championships, while Bord Gáis Energy, Centra and Littlewoods back the hurling.

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Engineering group Jones has teamed up with Swim Ireland to support the Leinster Open Sea series for the next 10 years. The calendar comprises four major swims - the Dún Laoghaire Harbour swim, the Lough Dan Races, the Island Race from Ireland's Eye to Howth and the Dublin City Liffey Swim in September. Top Oil is behind Showjumping Ireland in supporting the National Ladies Championship. The finale is the Whites Cross Charity Show in Curraheen, Co Cork, on September 3.

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Sarah Sharkey has been appointed managing director at the Audi Dublin International Film Festival (ADIFF). Sharkey's career began with the Opera Theatre Company, after which she joined McConnells Advertising. She spent a decade in adland, most recently as an account director at DDFH&B, working on Vodafone.

She then moved client-side, with Ulster Bank and as media manager for Warner Bros Pictures.

She joined ADIFF last summer as sponsorship manager. Publicist Suzanne Noble and Irish actor and writer Mark O'Halloran, best known as one of the tragic heroin addicts in Lenny Abrahamson's 'Adam & Paul', have also signed up to ADIFF.

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Irish consumers are expected to spend €280m on books this year, which equates to €84 for each adult in the country, an iReach survey shows. When asked if they buy books, or borrow them from others, 36pc said they do both, 31pc only buy them, 17pc borrow them and 16pc do neither.

Reading at weekends scores 46pc and summer holidays 41pc.

Two-thirds of regular book enthusiasts read before going to bed - one-in-two men, but three-out-of-four women.

It only goes to show there's truth in the quip that Maeve Binchy has given more pleasure in bed than any other woman.

Michael Cullen is editor of Marketing.ie; cullen@marketing.ie

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