Category
Life-Stages
Constructible Franchises
Trend cluster
Category
Smart
Savings
Connected piggy banks establish fiscal responsibility in kids.
3.9
Trend score
Trend
What is the Smart Savings trend?
Smart Savings: A heightened interest in connected piggy banks taps into the inclination that many Gen Z consumers have towards saving, while leveraging the smart capabilities that digital natives are familiar with.
Insight
The consumer insight behind the Smart Savings trend
Millennial and Gen X parents who felt the effects of the 2008 financial crisis are extremely concerned with teaching their Gen Z children fiscal responsibility. For Gen Z, growing up in a digital-first world has given them the tools to better access information related to things like personal finances—preparing them for a constantly adapting future.
Trend themes
Themes within the Smart Savings trend
Three behaviours holding the trend together01
Connected Piggy Banks
The trend of connected piggy banks taps into the inclination many Gen Z consumers have towards saving, while leveraging smart capabilities that digital natives are familiar with.
02
Interactive Money Management
The trend of interactive digital piggy banks and mindful money management apps offer educational and no-nonsense interfaces for users to better track and manage their finances.
03
Teen-Specific Banking Services
The trend of teen-targeted digital-only banks such as 'Club Walrus' enhances financial independence and teaches young consumers how to make the most of their money.
Industry implications
What the Smart Savings trend means for industry
Where the trend changes the playbookFor
Education Industry
Financial education is a growing industry due to increasing concerns around Gen Z financial literacy and the potential for digital educational platforms to prepare youth for an ever-changing future.
For
Financial Technology (FinTech) Industry
The financial technology industry benefits from the trend of connected piggy banks, mindful money management apps, and neobanks, and has an opportunity to continue developing solutions that cater to the needs of digital natives.
For
Parenting and Childcare Industry
The parenting and childcare industry benefits from the trend of interactive digital piggy banks, mindful money management apps, and teen-targeted neobanks, and has an opportunity to develop and market products that help parents teach their children financial responsibility.
Workshop question
Conceptualize an offering your company could put forth that leans into the financial habits of your target demographic
Trend signals
Trend signals for Smart Savings
Trend score 3.9 out of 10, from popularity 63%, activity 45%, freshness 9%.
Popularity63%
Activity45%
Freshness9%
Audience
50%Men
50%Women
- Gen Alpha
- Gen Z
- Millennial
- Gen X
- Boomer (not a primary audience)
Market
North America
Europe
Asia-Pacific
Evidence
Examples of the Smart Savings trend
4 featured examples from Jun 1, 2019 to Mar 14, 2020CategoryLifestyle
Teen-Targeted Digital-Only Banks
'Club Walrus' Lets Users Maintain More Independence
The emergence of teen-targeted neobanks creates disruptive innovation opportunities in the banking industry to cater to a younger demographic and their unique financial needs.
CategoryLifestyle
Mindful Money Management Apps
The 'Slate' App is Suitable for Kids, Teens and Adults Alike
The 'Slate' app's success in simplifying finance tracking creates opportunities for companies in the finance tracking app industry to improve their offerings.
CategoryLife-Stages
Family-Friendly Finance Incentives
'Jassby Match' Matches Funds Given to Kids Using the Jassby App
Disruptive innovation opportunity: Develop a mobile payment system tailored specifically for the needs and preferences of families with children.
CategoryLife-Stages
Interactive Digital Piggy Banks
The 'Little Can' Encourages Children to Save Their Money
The education industry can benefit from the development of interactive piggy banks as tools to teach children about financial literacy and money management.
