The Millennial generation, individuals born between 1981 and 1996, are the youngest to have reached full maturity. Furthermore, because they were born after the mainstream use of personal computers but before the widespread introduction of the internet, they are the first generation of “technology natives.”
Millennials are the generation that has embraced digital technology the most quickly, probably as a result of their early exposure to developing home devices.
We explored five key research themes—healthcare, money, payment preferences, food, and banking security—to give advertisers and merchants with a top-down view of what motivates this critical target category.
Millennials are the generation most likely to use a payment plan for normal medical expenses, with 11% of those asked having used a different payment plan for their most recent provider visit.
This might imply that they are comfortable utilizing credit or that other financial goals are more important to them. Millennials, at 64%, were the group most likely to use a payment plan for their most recent unanticipated medical bill, according to research.
Millennials are 40% more likely to use a digital gateway than to make a payment in person, compared to 34%, maybe due to the longer repayment time associated with installment plans. Millennials are the generation most likely to choose digital portal payments, with 28% claiming it is their preferred alternative.
