Hong Kong 2015

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 Simon Tye  Executive Director  Ipsos

The Affluent Millennial Opportunity

MILLENNIALS

Aged 18-34

4

GENXERS Aged 35-49

5

AFFLUENT A minimum investable assets of

HKD800K

6

23% of Millennials (1.6 million)

almost a quarter of the population

7

account for 38% of all respondents who claimed to have an investable assets

of HK$800K+

mil •

A F F L U E N T

ni•

IN THE 1980S OR 1990S

A PERSON BORN

als

9

1. Willing and open to new modes of operation

2. Increasingly social

3. Hugely optimistic about the future

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1 Willing and open to new modes of operation

2 Increasingly social

3 Hugely optimistic about the future

C U R R E N T F I N A N C I A L S E R V I C E S L A N D S C A P E

Through the lens of Affluent Millennials

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Profile of millennials vs affluent millennials

GENDER

MILLENNIALS AFFLUENT

MILLENNIALS

AVERAGE AGE

MILLENNIALS AFFLUENT

MILLENNIALS

26.4 29.5 45% MALE

55% FEMALE

60% MALE

40% FEMALE

MILLENNIALS AFFLUENT

MILLENNIALS

EDUCATION INVESTIBLE ASSETS

GRADUATE

POST GRADUATE

59% 68%

7% 27% HK$ 8M or higher value

MILLENNIALS AFFLUENT

MILLENNIALS

1% 12%

 Likelihood to Try Services from a Non-FS Brand

Affluent Millennials Are Open to FS Offerings from Traditionally Non-FS Brands

45%

54%

36%

41%

15

MIL

LEN

NIA

LS

GE

NX

AF

FLU

EN

T

MIL

LEN

NIA

LS

AF

FLU

EN

T

GE

NX

*Significantly greater than GenX

*

Affluent Millennials Seek Greater Involvement & Control in Financial Decisions

36%

29%

37% 40%

49%

65%

50% 51%

AFF

LUE

NT

MIL

LEN

NIA

LS

AFF

LUE

NT

GE

NX

AFF

LUE

NT

MIL

LEN

NIA

LS

AFF

LUE

NT

GE

NX

MIL

LEN

NIA

LS

GE

NX

MIL

LEN

NIA

LS

GE

NX

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S O L O I S T V A L I D A T O R

M I L L E N N I A L S : T H E S O C I A L - C E N T R I C G E N E R A T I O N

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Affluent Millennials believe social networks will be the hub of all their financial information in the future 1in 5

*Significantly greater than Aff. GenX

53%

29% 32%

AF

FL

UE

NT

M

ILL

EN

NIA

LS

MIL

LE

NN

IAL

S

GE

NX

ER

S

VS

Seek content from financial companies on social networks

*

 How relevant is educational content/information to you?

Millennials Find Financial Education Most Relevant

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AFFLUENT, 75%

AFFLUENT, 67%

MILLENNIALS, 59% GENX, 56%

 % of Users that use at least 1 social network to obtain this type of info

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MILLENNIALS AFFLUENT MILLENNIALS

69%

64%

61%

59%

58%

57%

56%

52%

49%

48%

47%

81%

80%

82%

70%

68%

68%

78%

64%

59%

75%

78%

Personal debt

Financial markets/events

Personal taxes

Financial products and/or services

Financial companies� products and/or services

Thought leadership content about financial markets/current events

Expert opinions or commentary about financial markets/events

Personal investing

Retirement planning

Personal financial planning

Personal loans (e.g., home, auto, student)

The affluent millennials are hungry for information, especially on financial planning, personal tax, loans and financial markets/ events

Difference

12%  

16%  

21%  

11%  

10%  

11%  

22%  

12%  

10%  

27%  

31%  

F U T U R E F I N A N C I A L S E R V I C E S L A N D S C A P E

As Millennials envision it

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T H E F U T U R E ’ S S O B R I G H T F R O M M I L L E N N I A L S ’ P O I N T O F V I E W

81% Affluent Millennials think success through

hard work and initiative is possible

76% Affluent GenX

vs.

Affluent Millennials are more likely than general Millennials to be confident in the

country’s economic future (15% Millennials vs 30% Affluent Millennials)

2x MORE LIKELY

One financial ideal is that every citizen should have an equal opportunity to achieve success through hard work, determination, and initiative.

Is this ideal alive and possible today?

 % AGREE: The sacrifices I make now will pay off in the future

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Affluent Millennials Will Sacrifice Now For The Future

M I L L E N N I A L S G E N X E R S

To t a l : 3 2 % *

A f f l u e n t : 3 5 %

To t a l : 2 5 %

A f f l u e n t : 3 2 %

*Significantly greater than GenX

Seize the Affluent Millennial Opportunity

A C T N O W

B U I L D D I A L O G U E & T R U S T W I T H E D U C AT I O N A L

C O N T E N T

W A L K T H E W A L K

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Hong Kong 2015