The generational divide
The sector shift toward trusted web2 companies is evident across all age groups, but not all generations have adapted their preferences uniformly.Traditional financial services companies have become the undisputed companies ...
The sector shift toward trusted web2 companies is evident across all age groups, but not all generations have adapted their preferences uniformly.
Traditional financial services companies have become the undisputed companies for which consumers want to engage in crypto, surpassing crypto exchanges. This presents empirical evidence that across all demographics, consumers are shifting to brands they trust.
Equally, consumers have also demonstrated a movement to other industries too. There has been increased movement to investment platforms and fintech companies to engage with crypto. This further demonstrates the trend of the convergence between traditional finance and crypto.
The preference for traditional financial services companies is most prominent amongst older generations. This generational gap is likely driven by the fact that Baby Boomers and Gen X grew up with traditional financial services brands and now have an affinity for these. Younger generations, who have lived through the rise of fintech and the proliferation of tech brands, display a willingness to consume crypto from non-traditional financial services companies.
Gen Z stands out most prominently from other generations: 66% would most trust a tech business like Amazon to engage with crypto, while others prefer traditional financial services companies.