Having worked closely with many creators and brands, I can guarantee that finance has never been so lucid. From being a nerdy subject to being the new “cool factor” in today’s world, we’ve seen the younger generation adapt, learn and love money management. The highest record of 14.2 million demat accounts opened in 2021 is proof of this. Studies show that 70% of new account openings are by millennials (born between 1981 and 1996), especially from Tier 2 and 3 cities.
Moreover, opening a demat account barely takes 24 hours in today’s extremely competitive brokerage industry. This wave of retail investors was largely influenced by social media trends, as it was the only thing they could access during the lockdown. They change the way we think about investing!
These influencers are just people like you and me, very ordinary, very close, therefore very relevant. They break down financial jargon and entertain you simultaneously. They are largely responsible for filling the gap in information and financial education – something veterans have tried to do all their lives, except they didn’t through original scripts and music reels. . Swear words in finance are no longer going to make you feel dumb, thanks to finfluencers.
Way of life
Anyone who earns and saves money is the customer. It took a hit across all age groups, regardless of their work background. Especially 15-25 year olds found it cool to talk about IPOs, SIPs, ETFs, NFTs, Web3.0, crypto, etc. is the offer »
Being equal with dads
Have we just ditched old school FDs? Oh yes, the days of our fathers collecting all rakhi cash gifts and throwing them in a FD are over. Now we can tell him about 7 more compound growth options, just kidding, never lecture your dads with money. All I’m saying is that traditionally the male head of the household manages the money in the household – where it goes, how to save it, how to spend it, etc. Today awareness has helped us make better decisions or understand something as simple as FD can’t beat inflation. So put it in the pot that can.
Today is different
Today, the stock market is no longer a game of “sophisticated gambling”. Today, you don’t need to bring cash for groceries because your cell phone can do the job. Oh wait, you don’t even have to go to the grocery store because a grocery delivery app can do the job. You also don’t have to go to the bank to get things done, or call your insurance agent at home to discuss health insurance. At this age, it’s all about who’s more accessible or what’s most doable. Therefore, keeping up to date with newage fintech can bring you gains that you cannot imagine. Finfluencers have just filled this knowledge gap about these brands and services. They make you smarter, call for more credibility in the business, and introduce transparency in this cutthroat competition.
And finally, the younger generation is more informed, less risk averse, more optimistic about money management and not afraid to try new things. By leveraging this audience, influencers can continue to deliver content in their style and make us smarter with our money. Or at least smart enough to watch The Big Shot without feeling stupid.
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