The Data Digest: Mobile Banking Uptake

The New York Times recently published an article based on a Forrester report (Mobile Is The New Face Of Engagement) about the uptake of smartphones worldwide in the years to come. And for 2011 it was estimated that just under 500 million smartphones were shipped. Knowing the drivers behind the growth of smartphones gives businesses confidence in mobile technology investment — even when uptake is currently still limited.

In the US today, Consumer Technographics® data shows that mobile usage is still far from mature in many industries. Take the financial industry as an example: 21% of US online adults with a mobile phone do any form of mobile banking versus 73% of US online adults who do online banking. When looking at the different generations, we see that younger generations, who are more likely to be early smartphone adopters, dominate in mobile banking.

 

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The Data Digest: Profiling Digital Natives

As part of our Demographic Overview series, we just published Digital Natives: A Demographic Overview; previously, we published research on digital dads and digital moms. For readers who haven’t heard the term before, Digital Natives are the individuals currently ages 12 to 17, and they will soon become the most sophisticated consumers in the digital world. Forrester defines Digital Natives as “individuals who have grown up in the age of technology and cannot imagine a life without computers, cell phones, and social networking.”

With the increasing numbers of these Digital Natives, it is imperative that companies get to know them — and the earlier the better. They adopt digital technology faster than older generations; they can’t imagine a life without digital “essentials”; and they combine these digital activities in sophisticated ways.

For example, Forrester’s Consumer Technographics® data shows that boys, on average, spend 6.1 hours playing video games per week, and when they have discussions on social networks, video games are the No. 1 topic. Moreover, despite having little disposable income yet, more than one-third of Digital Natives have either researched or purchased a product or service online in the past three months.

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