Study Finds Gen Z Consumers Want Credit Perks but Leery of Debt
COLUMBUS, Ohio, Oct. 20, 2021 /PRNewswire/ -- Alliance Data Systems Corporation (NYSE: ADS), a leading global provider of data-driven marketing, loyalty and payment solutions, today released findings from a national study that assesses payment wants, habits and attitudes of Gen Z consumers. The results show that while the majority want traditional credit card rewards and perks –
Additional findings from the study include that many Gen Z shoppers want:
Credit – but are shut out: Nearly three in 10 (
A blend of traditional and digital choices: While cash and debit cards are the top payment types across all consumers, Gen Z also welcomes non-traditional digital payment options. The majority (
Purchase-based payment flexibility: Payment use among Gen Z is influenced by the purchase at hand. Looking at purchases valued between
End-to-end control: When asked about features they would like to see in their payment solutions, nearly eight in 10 (
Secure experiences: The study found that security is more important to Gen Z than any other generation. Nearly nine in 10 (
"Our study depicts a cautious, responsible and choice-driven Gen Z consumer – but one whose needs are not fully being met by traditional credit and other payment options," said Val Greer, EVP and chief commercial officer, Alliance Data. "With
To download the full "Next Gen Impact" study, visit: www.alliancedatacardservices.com/insights-news/next-gen-impact
Study Methodology
A sample of 2,515 U.S. consumers participated in the Next-Gen Impact study through an online quantitative survey that took place from August 6-12, 2021. Additionally, qualitative feedback was gathered from a total of 22 U.S. consumers, ages 16-24 in an online discussion board conducted on July 15 and 16, 2021.
About Alliance Data
Alliance Data ® (NYSE: ADS) is a leading provider of data-driven marketing, loyalty and payment solutions serving large, consumer-based industries. The Company creates and deploys customized solutions that measurably change consumer behavior while driving business growth and profitability for some of today's most recognizable brands. Alliance Data helps its partners create and increase customer loyalty across multiple touch points using traditional, digital, mobile and emerging technologies. Headquartered in Columbus, Ohio, Alliance Data is an S&P MidCap 400 company that consists of businesses that together employ approximately 8,000 associates at more than 45 locations worldwide.
Alliance Data's Card Services business is a comprehensive provider of market-leading private label, co-brand, general purpose and business credit card programs, digital payments, including Bread®, and Comenity-branded financial services. LoyaltyOne owns and operates the AIR MILES® Reward Program, Canada's most recognized loyalty program, and Netherlands-based BrandLoyalty, a global provider of tailor-made loyalty programs for grocers. More information about Alliance Data can be found at www.AllianceData.com.
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Contact:
Media
Rachel Stultz
Alliance Data
614-729-4890
rachel.stultz@alliancedata.com
Gabi Zepeda
Highwire PR
858-997-5667
gabi@highwirepr.com
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SOURCE Alliance Data Systems Corporation