Understanding the shift in financial consumer behaviour
When: Thursday, May 5th, 2022, 1:00-2:00 EDT
Session background
In our data science practice at PMG Intelligence, we have been building consumer behavioural models for the past decade. This includes the development of an applied personality segmentation framework in addition to risk decision-making models which have been used in a variety of industry sectors with financial services representing a key focus of our analysis.
Since the start of COVID, PMG has been modeling the impact the pandemic is having, and will continue to have, on Canadian financial consumers. Our data has identified fundamental changes in how consumers will manage their finances, their propensity to switch (or add) financial partners, and most notably, how they prepare for retirement. These changes are also impacting the role and relevance of advice, product, retail infrastructure, and technology.
These shifts that are occurring in consumer decision-making processes also include a change in the impact of risk in making day-to-day decisions. This is translating into changes in how consumers will engage their product, service, and channel relationships in the future. Although these changes will be more temporary for some, the model shows that 2-in-5 consumers will be more permanently affected.
Our research has noted a growing rate of change in financial behaviour as well as realignment of the factors that will impact how brands are internalized, the orientation of distribution and sales planning, technology adoption, and client/member retention and acquisition strategies.
We are excited to share our key insights with our clients, colleagues, and friends. With this, we are holding a complimentary 60-minute webinar and would be delighted to have members of your team attend.
This webinar will provide data and insights into the following areas:
- Update on critical behavioural and attitudinal statistics relating to COVID-19
- Breakdown of the behavioural shifts due to COVID-19 across life stage and behavioural segments
- Explore the impact of COVID-19 on consumer decision-making and risk management
- Unpack how product and service relationships will be modified across life stage and behavioural segments
- Present marketers with actionable insights to inform messaging platforms to maximize customer/client retention
If you are interested in attending this webinar, to register please follow the link below:
Register here
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Stay happy and healthy,
The PMG Intelligence Team