Bruce Temkin at Forrester examines the changes in behaviour, and attitudes experienced over the last three years.

Forrester Research: The Changing Financial Consumer

EXECUTIVE SUMMARY         Length: 12 pages
We examined changes in the attitudes and behaviors across five generations of consumers during the past three years. Over the years, some attitudes have shifted: Older consumers are less likely to shop around, price is increasingly more important than brand, consumers are more likely to take investment risks, and Validators are turning into Delegators. We also found a sharp rise in online financial activities — especially with younger generations of consumers.

Some random aspects of key findings:

1. online banking is booming
2. online investing is growing across all segments, eg. age 65+ doubled their usage
3. online investor attitudes are changing
4. young customers are researching loans online
5. price is more important for all

Relevance to Bankwatch:
Never underestimate the power of internet, or assume its growth is linear.  Its always time to revist customers attitudes and behaviours.

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