1UPSCALE TECH-SAVVY MILLENNIALS Copyright © 2014 The Nielsen Company
U P S C A L E T E C H-S AV V Y M I L L E N N I A L S:SAVING AND INVESTMENT STRATEGIES AROUND THE WORLD
2 UPSCALE TECH-SAVVY MILLENNIALS
UPSCALE TECH-SAVV Y MILLENNIALS:SAVING AND INVESTMENT STRATEGIES AROUND THE WORLD
In Q3 2013, the Nielsen Global Survey of Saving and Investment
Strategies polled more than 30,000 Internet respondents in 60 countries
to evaluate how consumers around the world were preparing for current
and future financial expenses. Nielsen evaluated 16 different saving
and investment strategies used to fund 14 financial goals ranging from
unforeseen life events and shorter-term goals, such as unexpected
household emergencies and buying a house, to longer-term objectives,
such as saving for retirement and for their children’s future.
A majority of global respondents (almost 7 out of 10) believe they will
achieve their financial goals, yet only two of these seven think current
planning efforts are sufficient. In a nutshell, there is a growing global
consumer need to help guide and plan for the financial future.
Yet, savings is only half the story and must be examined in the context
of spending, especially in light of high inflation and rising food costs.
Despite higher income, North Americans report the lowest percentage
(9%) with the ability to spend freely, with 51 percent indicating they only
have enough money to cover shelter, food and the basics. In contrast,
Asians report the highest percentage (17%) with the ability to spend
freely, with 36 percent indicating they only have enough money to cover
shelter, food and the basics. And, the vast majority (85%) of global
consumers indicate that higher food costs impact their choice of grocery
products. This impacts spending in other industries, as well with global
consumers, indicating they would reduce spending on dining out (64%),
buying new clothes (55%), spending on snack foods (45%), paying for
recreation and entertainment (44%), and traveling on vacation (39%)
due to inflation and rising food costsi. And with all this spending, global
consumers need more help than ever to focus on saving for the future.
3UPSCALE TECH-SAVVY MILLENNIALS Copyright © 2014 The Nielsen Company
In this analysis, Nielsen has taken a deeper dive into the savings and
investment strategies and intentions of upscale, tech-savvy Millennials
in the U.S., Brazil, China and India to better understand the financial
values and goals of those with money to save in this up-and-coming
generation. Millennials have come of age in the direst economic
circumstances since the Great Depression, contending with high
unemployment, high student loans and an uncertain future. Financial
institutions that can connect with Millennials to build their financial
portfolios can help this young generation find financial security and
stability. Upscale Millennials represent the future of global economic
growth and prosperity.
Millennials are 77 million strong in the U.S., making up 24% of the
population, in line with the U.S. Baby Boomer generation. However
in emerging countries, Millennials make up an even larger portion of
the population and thus are even more important to focus efforts on.
Millennials make up 28% of the population in China and 30% of the
population in both Brazil and India. And these emerging countries are
among the most optimistic and confident, with consumer confidence
that exceeds the global average, indicating an openness and receptivity
to messaging from financial institutions. Not surprisingly, there is a
relationship between strong consumer confidence and the percent of
the population indicating they are able to live comfortably. India, for
example, has high consumer confidence indexing at 115 and the majority
of the population (56%) indicates they are able to live comfortably.
For the purposes of this
analysis, Nielsen has
defined upscale, tech-savvy
Millennials as respondents
between the ages of 18-34
with Internet access and
household income over the
75th percentile for survey
respondents. The general
Millennial population is
defined as respondents
between the ages of 18-34
with Internet access.
• United States:
Household Income
$70K+
• China: Household
Income $40K+
• Brazil: Household
Income $30K+
• India: Household
Income $30K+
20
40
60
80
100
120
140
10%
20%
30%
40%
50%
60%
HIGH CONSUMER CONFIDENCE, HIGH STANDARD OF LIVING
GLOBALAVERAGE
Con
sum
er C
onfid
ence
Inde
x
Perc
ent A
ble
to L
ive C
omfo
rtab
ly
U.S. BRAZIL CHINA INDIA
94
42%39%
31%
44%
56%
94 110 111 115
Source: Nielsen Global Consumer Confidence Study Q4 2013, Nielsen Global Survey of Inflation Intentions Q1 2013
4 UPSCALE TECH-SAVVY MILLENNIALS
M I L L E N N I A L S AV I N G S A N D F I N A N C I A L S T R AT E G I E SNielsen has found that globally, consumers’ future intentions to save
across the 14 financial goals examined were stronger than current savings
intentions with the exception of health. However, this is not the case
with upscale Millennials in the U.S., Brazil, China and India. Many of the
current goals Millennials are saving toward are reflective of their younger
lifestage – focusing on education to build their careers, starting families
and purchasing a home. And, there is a cultural and value component at
play that should not be ignored as it guides what Millennials in different
parts of the world are savings towards. Cultures who value clans and
families, like China and India, have a much more intergenerational
outlook in their savings and investment intentions.
Future savings intentions among upscale Millennials in the U.S. and
Brazil are strong across most financial goals. This strong future intention
for savings presents opportunity for education from financial institutions
to help meet these goals. Millennials in China and India are currently
saving for most financial goals, presenting opportunity for financial
institutions to actively guide these young consumers to help them meet
their financial goals.
Globally, health and unforeseen household emergencies are the top
overall savings priorities for consumers. Looking at generations, the
sentiments fluctuate. Health is among the top current savings goals for
upscale Millennials in the U.S., China and India but upscale Millennials
in Brazil are more focused on saving for a first-time home purchase,
unexpected household emergencies and higher education. Since public
health care is provided by the Brazilian government, Brazilian Millennials
may need to devote less of their savings towards health issues. Full
implementation of health care reform programs, including Obamacare
in the U.S., may impact the amount of savings devoted to health by
consumers in the future. While health care is provided in China and
India, Millennials may take on supplemental plans to care for their aging
parents. In the U.S., China and India, the general Millennial population,
who may have less of a safety net, are more likely to be saving for
unexpected household emergencies than the upscale segment.
5UPSCALE TECH-SAVVY MILLENNIALS Copyright © 2014 The Nielsen Company
U.S. MILLENNIALS: PLANNERS AND REALISTSMillennials in the U.S. – both upscale and in total – value higher
education and save toward this financial goal, with 43 percent of upscale
Millennials and 40 percent of total Millennials actively saving. Millennials
in the U.S. - are over twice as likely as the average U.S. consumer to
have student loans from their education. They are also saving for future
education for themselves or their children with educational IRA plans and
tax advantaged college savings plans.ii In addition to education, upscale
Millennials are also actively saving for their financial legacy (43%) and
health (43%), while the general Millennial population is saving for a
rainy day in case of job or income loss (34%) and unexpected household
emergencies (33%). Upscale Millennials plan to save in the future for loss
of job or income (57%) and unexpected household emergencies (57%)
but a higher proportion plan to save for personal luxury items like a car,
vacation, watch or handbag (63%). The general Millennial population
plans to save in the future for practical purposes like retirement (64%),
health (61%) and an upgraded property purchase (60%).
6 UPSCALE TECH-SAVVY MILLENNIALS
START UP A BUSINESS
FINANCIAL LEGACY
UNEXPECTED HOUSEHOLD EMERGENCIES
MARRIAGE
HEALTH ISSUES
SECOND-HOME/VACATION PROPERTY PURCHASE
CHILDREN’S FUTURE
HAVING A BABY
PERSONAL LUXURY PURCHASE
UPGRADED PROPERTY PURCHASE
HIGHER EDUCATION
LOSS OF JOB/INCOME
FIRST-TIME MAIN HOME PROPERTY PURCHASE
RETIREMENT FUND
I ACTIVELY SAVE NOW I PLAN TO SAVE IN THE FUTURE
TOTAL MILLENNIALS IN THE U.S.
27%64%
58%
59%30%
51%14%
60%19%
58%33%
56%34%
61%30%
59%28%
56%22%
39%40%
49%24%
51%22%
48%18%
22%
UPSCALE MILLENNIALSIN THE U.S.
23%33%
30%47%
37%33%
43%30%
43%43%
30%63%
43%47%
33%57%
33%57%
40%40%
23%43%
37%40%
30%47%
40%50%
Source: Nielsen Global Survey of Saving and Investment Strategies, Q3 2013
7UPSCALE TECH-SAVVY MILLENNIALS Copyright © 2014 The Nielsen Company
MILLENNIALS IN BRAZIL: HOME SWEET HOMEUpscale Brazilian Millennials are not distinct from the general Brazilian
Millennial population when it comes to saving. Both upscale Millennials
and the general Millennial population are actively saving money toward
similar financial goals reflective of their lifestage including a first-
time home purchase, unexpected household emergencies and higher
education. While Brazilian Millennials are actively saving for their first
home, they aspire for a second home/vacation property with 65 percent
of upscale Millennials and 57 percent of total Millennials planning to
save toward this financial goal. Brazilian Millennials also plan to save
toward their children’s future with 64 percent of upscale Millennials and
62 percent of total Millennials planning to save toward this financial
goal in the future. And while Millennials in total are planning to save for
retirement (63%), upscale Millennials are more focused on future saving
towards their financial legacy (63%).
8 UPSCALE TECH-SAVVY MILLENNIALS
START UP A BUSINESS
FINANCIAL LEGACY
UNEXPECTED HOUSEHOLD EMERGENCIES
MARRIAGE
HEALTH ISSUES
SECOND-HOME/VACATION PROPERTY PURCHASE
CHILDREN’S FUTURE
HAVING A BABY
PERSONAL LUXURY PURCHASE
UPGRADED PROPERTY PURCHASE
HIGHER EDUCATION
LOSS OF JOB/INCOME
FIRST-TIME MAIN HOME PROPERTY PURCHASE
RETIREMENT FUND
I ACTIVELY SAVE NOW I PLAN TO SAVE IN THE FUTURE
Source: Nielsen Global Survey of Saving and Investment Strategies, Q3 2013
UPSCALE MILLENNIALS IN BRAZIL
23%54%
26%54%
36%42%
40%42%
14%63%
23%56%
36%42%
33%46%
41%47%
24%54%
15%65%
47%42%
22%64%
32%53%
TOTAL MILLENNIALS IN BRAZIL
63%26%
23%62%
47%36%
57%18%
52%24%
51%38%
52%33%
46%36%
52%22%
57%14%
40%42%
47%26%
52%25%
54%24%
9UPSCALE TECH-SAVVY MILLENNIALS Copyright © 2014 The Nielsen Company
MILLENNIALS IN CHINA: HEALTH AND LUXURY FOCUSEDFinancial well-being in China has much to do with whether Millennials
are actively saving. Millennials in China are actively saving toward their
health, with 73 percent of upscale Millennials and 60 percent of total
Millennials saving toward this financial goal. Upscale Millennials in
China are aspirational, actively saving toward personal luxury items like
cars, vacations, watches or handbags (65%) and an upgraded property
purchase (59%). In contrast, the general Chinese Millennial population
is actively saving toward more practical goals like unexpected household
emergencies (48%) and a first-time home purchase (45%). Both upscale
Millennials and Millennials in total are focused on intergenerational
wealth and building a path for their families by planning to save towards
their financial legacy in the future, with 58 percent of upscale Millennials
and 53 percent of the general Millennial population planning to save
towards this goal. Upscale Millennials also plan to save toward higher
education (47%) and a second home/vacation home purchase (45%),
while the general Millennial population plans to save toward having a
baby (53%) and retirement (52%).
10 UPSCALE TECH-SAVVY MILLENNIALS
START UP A BUSINESS
FINANCIAL LEGACY
UNEXPECTED HOUSEHOLD EMERGENCIES
MARRIAGE
HEALTH ISSUES
SECOND-HOME/VACATION PROPERTY PURCHASE
CHILDREN’S FUTURE
HAVING A BABY
PERSONAL LUXURY PURCHASE
UPGRADED PROPERTY PURCHASE
HIGHER EDUCATION
LOSS OF JOB/INCOME
FIRST-TIME MAIN HOME PROPERTY PURCHASE
RETIREMENT FUND
I ACTIVELY SAVE NOW I PLAN TO SAVE IN THE FUTURE
Source: Nielsen Global Survey of Saving and Investment Strategies, Q3 2013
TOTAL MILLENNIALS IN CHINA
42%44%
33%53%
39%40%
41%44%
17%53%
41%44%
60%38%
37%48%
48%46%
43%47%
31%51%
45%39%
50%
40%52%
43%
UPSCALE MILLENNIALS IN CHINA
55%33%
43%41%
40%29%
37%47%
22%
65%27%
73%27%
46%41%
56%41%
59%34%
44%45%
30%
57%36%
43%53%
47%
58%
11UPSCALE TECH-SAVVY MILLENNIALS Copyright © 2014 The Nielsen Company
MILLENNIALS IN INDIA: SAVING FOR HEALTH AND CHILDRENUpscale Indian Millennials are much more likely to be actively saving
than the rest of their generation. Indian Millennials are actively saving
toward their health, with 66 percent of upscale Millennials and 56
percent of the general Millennial population saving towards this
goal. Upscale Millennials in India are also actively saving for their
children’s future (65%) and in case of loss of job or income (57%),
while the general Millennial population is actively saving for unexpected
household emergencies (48%) and higher education (47%). Both
upscale Indian Millennials and the general Millennial population plan
to save for personal luxury items and a second home/vacation home
in the future. And, 45 percent of upscale Millennials and 54 percent of
the general Millennial population intend to save toward personal luxury
items. Additionally, 42 percent of upscale Millennials and 52 percent of
the general Millennial population intend to save toward a second home/
vacation home. Upscale Millennials also plan to save toward a first-time
home purchase (41%) while the general Millennial population plans
to save toward having a baby (49%). Savings patterns among Indian
Millennials are quite similar to Chinese Millennials; however Indian
Millennials take intergenerational transfer of wealth to a greater extreme.
12 UPSCALE TECH-SAVVY MILLENNIALS
Source: Nielsen Global Survey of Saving and Investment Strategies, Q3 2013
START UP A BUSINESS
FINANCIAL LEGACY
UNEXPECTED HOUSEHOLD EMERGENCIES
MARRIAGE
HEALTH ISSUES
SECOND-HOME/VACATION PROPERTY PURCHASE
CHILDREN’S FUTURE
HAVING A BABY
PERSONAL LUXURY PURCHASE
UPGRADED PROPERTY PURCHASE
HIGHER EDUCATION
LOSS OF JOB/INCOME
FIRST-TIME MAIN HOME PROPERTY PURCHASE
RETIREMENT FUND
I ACTIVELY SAVE NOW I PLAN TO SAVE IN THE FUTURE
UPSCALE MILLENNIALS IN INDIA
48%37%
43%37%
44%39%
60%27%
48%39%
48%45%
66%28%
57%36%
53%37%
54%33%
45%42%
52%41%
65%24%
54%40%
TOTAL MILLENNIALS IN INDIA
47%40%
43%46%
46%39%
52%26%
44%34%
42%48%
45%44%
37%56%
54%33%
49%34%
34%47%
39%40%
49%30%
48%33%
13UPSCALE TECH-SAVVY MILLENNIALS Copyright © 2014 The Nielsen Company
MILLENNIALS SAVINGS STRATEGIES FOR FIRST HOME PURCHASEPurchase of a first home is a major life milestone and something many
Millennials across globe are either currently saving towards or intend
to save for in the future. Given the disproportionate impact of the
global recession on Millennials, the goal of homeownership presents
challenges for this generation. Homeownership rates among U.S.
Millennials have fallen dramatically since pre-Recession (2006), with
many Millennials renting instead of buying.iii
The methods used by upscale Millennials to save for a first-time home
purchase vary from country to country. Upscale Millennials in the U.S.
utilize the fewest methods, focusing on local bank accounts, stock
trading, savings plans and retirement products to save for their first
home purchase. Local bank accounts also top the charts for upscale
Millennials in Brazil and China, followed by stock trading. Upscale
Millennials in India utilize the most methods in saving for their first
home purchase ranging from pensions to stocks to foreign investments.
U.S. BRAZIL CHINA INDIA
Local Bank Accounts (18%) Local Bank Accounts (59%) Local Bank Accounts (55%) Company Pension (38%)
Stock Trading (18%) Stock Trading (27%) Stock Trading (25%) Private Pension (34%)
Savings Plans (18%) Bonds (22%) Foreign Currency Investments (18%)
Stock Trading (33%)
Other Retirement Products (18%)
Property Investments (22%)
Unit Trust (16%) Structured Investment Products (33%)
Structured Investment Products (16%)
Savings Plans (16%) Foreign Bank Accounts (31%)
Unit Trust (16%) Property Investments (15%)
Bonds (30%)
Local Bank Accounts (30%)
Foreign Currency Investment (29%)
Unit Trust (28%)
Property Investments (22%)
Savings Plans (19%)
TOP METHODS TO SAVE - STRATEGIES USED BY MORE THAN 15% OF UPSCALE MILLENNIALS
Source: Nielsen Global Survey of Saving and Investment Strategies, Q3 2013
14 UPSCALE TECH-SAVVY MILLENNIALS
Upscale Millennials in the U.S. feel further from meeting their financial
goal of first-time home purchase than upscale Millennials in other
countries, with 36 percent indicating that they were 3 to 5 years from
meeting this goal. In contrast, 30 percent of upscale Millennials in Brazil
indicated they were 6 months to 1 year from meeting their goal of first-
time home purchase and 25 percent of upscale Millennials in China and
33 percent of upscale Millennials in India indicated they were 1 to 3 years
from meeting this goal.
U.S. BRAZIL CHINA INDIA
Less than 6 months 9% 8% 16% 14%
6 months to less than 1 year 0% 30% 20% 16%
1 year to less than 3 years 27% 24% 25% 33%
3 years to less than 5 years 36% 11% 24% 23%
5 years to less than 10 years 18% 14% 7% 11%
10 years to less than 20 years 0% 11% 5% 4%
20 years or more 9% 3% 2% 0%
TIMEFRAME FOR UPSCALE MILLENNIALS TO ACHIEVE FINANCIAL GOAL OF FIRST-TIME HOME PURCHASE
Source: Nielsen Global Survey of Saving and Investment Strategies, Q3 2013
15UPSCALE TECH-SAVVY MILLENNIALS Copyright © 2014 The Nielsen Company
UPSCALE MILLENNIALS SAVINGS RATETHE AMOUNT SAVED IS INCREASING
Upscale Millennials are devoting a larger proportion of their monthly
income to savings than the general Millennial population. Upscale
Millennials in the U.S. are saving to meet their financial goals each
month at the highest rate, with 17 percent indicating they are saving
more than 50 percent of their monthly paychecks. However for most
U.S. Millennials the amount saved over the last 12 months has remained
relatively constant. Millennials in Brazil are saving the least each
month, with over 60 percent of both upscale Millennials and the general
Millennial population saving less than 20 percent of their monthly
paychecks. Yet, savings among Brazilian Millennials – both upscale and
in total – is on the rise and has increased over the last 12 months. While
most Chinese Millennials are saving modestly, between 20 percent-50
percent of their monthly paychecks, their savings has increased
over the last 12 months. The vast majority (77%) of upscale Chinese
Millennials have increased their savings over the last 12 months,
while 64 percent of total Chinese Millennials have increased their
savings. And only 2 percent of upscale Chinese Millennials decreased
their amount saved over the last 12 months. The largest percentage of
upscale Indian Millennials save between 20 percent-50 percent of their
monthly paychecks and savings is on the rise with 68 percent indicating
their savings has increased over the last 12 months. As the economy
continues to rebound, Millennials may save more and more of their
income, ultimately bringing them closer and closer to achieving their
financial goals.
16 UPSCALE TECH-SAVVY MILLENNIALS
UpscaleMillennials
UpscaleMillennials
UpscaleMillennials
UpscaleMillennials
Total Millennials
%
Total Millennials
Total Millennials
Total Millennials
U.S. BRAZIL
43
374843
50
13
61
27 11
56
29
14
7764 68
22 10
63
26 1129
723
48
91
CHINA INDIA
Source: Nielsen Global Survey of Saving and Investment Strategies, Q3 2013
CHANGE IN SAVINGS AMOUNT OVER THE LAST 12 MONTHS
Increased Stay the Same Decreased
CONFIDENCE IN MEETING FINANCIAL GOALS
PERCENTAGE OF MONTHLY INCOME DEDICATED TOWARDSMEETING FINANCIAL GOALS
UpscaleMillennials
UpscaleMillennials
UpscaleMillennials
UpscaleMillennials
Total Millennials
%
Total Millennials
Total Millennials
Total Millennials
U.S. BRAZIL
43 39
17
60
34
6
60
31
10
64 66
33
4838
54
40
67
5548
31
5 51
CHINA INDIA
Source: Nielsen Global Survey of Saving and Investment Strategies, Q3 2013
Less than 20% 20%-50% More than 50%
17UPSCALE TECH-SAVVY MILLENNIALS Copyright © 2014 The Nielsen Company
Globally, 7 out of 10 (69%) consumers believe they will meet their
financial goals, with 28 percent trusting their current plan and 41 percent
needing to monitor and adjust their plan over time. Upscale Millennials
exhibit even greater confidence in meeting their financial goals than the
general global population. Yet many, particularly in Brazil, still indicate
that they will need to monitor their current plan and make adjustments,
presenting opportunity for financial institutions to play a role in that
process. In the U.S., 83 percent of upscale Millennials believe they will
meet their financial goals, with 43 percent trusting their current plan
and 39 percent needing to monitor and adjust their plan. In Brazil, 76
percent of upscale Millennials believe they will meet their financial
goals, with 27 percent trusting their current plan and 48 percent needing
to monitor and adjust their plan. In China, 91 percent of upscale
Millennials believe they will meet their financial goals, with 47 percent
trusting their current plan and 44 percent needing to monitor and adjust
their plan. In India, 94 percent of upscale Millennials believe they will
meet their financial goals, with 52 percent trusting their current plan and
42 percent needing to monitor and adjust their plan.
UpscaleMillennials
UpscaleMillennials
UpscaleMillennials
UpscaleMillennials
Total Millennials
%
Total Millennials
Total Millennials
Total Millennials
U.S. BRAZIL
43 39
134
3542
186
27
48
168
43 36
175
47 44
7 2
3547
134
5242
5 2
42 44
113
CHINA INDIA
Source: Nielsen Global Survey of Saving and Investment Strategies, Q3 2013
CONFIDENCE IN MEETING FINANCIAL GOALS
Confident in Meeting Financial Goals with Current Plan
Confident in Meeting Financial Goals, but will Monitor Plan and Make Adjustments
Not Confident in Meeting Financial Goals, but will Keep Current Plan
Not Confident in Meeting Financial Goals, but will review plan to try to meet goals
PERCENTAGE OF MONTHLY INCOME DEDICATED TOWARDSMEETING FINANCIAL GOALS
18 UPSCALE TECH-SAVVY MILLENNIALS
WHAT DOES IT ALL MEAN?Upscale Millennials represent the future of economic growth and
prosperity. This young segment of the population is actively saving and
investing, and feel confident in their financial futures. In contrast to the
global population, the proportion of upscale Millennials actively saving
exceeds future savings intention in areas reflective of their lifestage like
higher education and home purchase. Even with higher income, upscale
Millennials are devoting a larger portion of their monthly income to
savings than the general Millennial population. Financial institutions
should look to consumer sentiment and savings intentions country
by country to develop strategies to educate and connect with upscale
Millennials.
U.S. consumers are on par with the global average for consumer
confidence and only a small percentage can spend freely, indicating
potential uncertainty about the future. Yet, upscale Millennials in the
U.S. feel confident in their financial future with many indicating they are
confident in meeting their financial goals with their current planning.
This is an important, responsible and desirable consumer segment that
will ultimately replenish the much sought after Mass Affluent group-
those Americans with liquid wealth exceeding $250K and under $1MM.
Many upscale Millennials in the U.S. are devoting a large portion of their
monthly income to savings, but their savings amount is not increasing
as dramatically as upscale Millennials in other countries. Looking at
home purchase specifically, upscale Millennials use fewer savings
methods than upscale Millennials in other countries. Ensure upscale
Millennials stay on track with their current financial plans, continue to
build their savings and diversify their saving methods.
Chinese and Indian consumers have high consumer confidence, and a
large portion of their population is able to live comfortably, indicating
strong optimism. Upscale Millennials in these countries feel positive
about their financial future and are forward thinking in preparing for
the financial security of future generations, indicating their confidence
in meeting their financial goals with current plans. And these young
upscale consumers are increasing the amount they are saving. Ensure
upscale Millennials in China and India have support and education for
their current savings and investments for health, and in planning for
their future saving intentions like financial legacy and retirement.
19UPSCALE TECH-SAVVY MILLENNIALS Copyright © 2014 The Nielsen Company
i Nielsen Global Survey of Inflation Impacts, Q1 2013
ii Nielsen Financial Track, 2013
iii The Demand Institute, The Shifting Nature of U.S. Housing Demand, 2012
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While optimistic, upscale Millennials in Brazil are actively saving on par
with the general Millennial population and feel less confident in their
financial planning, presenting opportunity for financial institutions in
Brazil to partner with these young consumers to help them prepare for the
future. Specifically, financial institutions should focus on helping Brazilian
Millennials to save for property purchase and education, and developing
strategies to devote a larger portion of their income to savings.
So, despite Millennials in different countries emphasizing different
priorities for their savings and investment intentions, guiding them in
achieving their financial goals is paramount for the financial sector.
Almost half or more of Millennials in each country are confident regarding
their future financial plans, yet are looking to revise or make adjustments
to ensure financial security. Helping Millenials everywhere ensures the
future health and growth of the global economy.