In our recent report we looked into those consumers who took a leap and found success in a new way of investing, read on The financial tribes you need to know to find out who they are and why you might want to join their ranks.
Have you ever come across a success story and said to yourself, ‘I wish I’d thought of that’? We all have, but successful investments aren’t always the result of a groundbreaking idea - sometimes all it takes is finding a relatively niche, but revolutionary technology. Neo Asset Hoarders are a cohort of consumers who have done just that: they’ve found the new frontier of tech consumer investment and decided to park their money to buy, trade or hold cryptocurrencies (31%) in-game assets (22%) or NFTs (11%), and are looking to make a tidy profit.
At a glance:
If you’ve recently heard of Bitcoin or Ethereum, if you know what a non-fungible token is or if you’ve read about fractional shares, it’s probably thanks to these early adopters who are driving the shift from traditional to decentralised finance and propelling neo assets into the mainstream.
So if 49% of all consumers today say they are likely to buy neo assets in the next few months, Neo Asset Hoarders are also putting pressure on banks to launch or expand crypto services amid a cryptocurrency boom. With 55% of them being younger than 35, they may be the newest consumer group in society, but are the tribe driving the most radical change.
Having felt priced out from traditional assets like bonds or property, this group is now creating their own, and is willing to pay extra for financial services that offer greater flexibility. For a whopping 81% of them, it’s important that their bank provides them with the ability to manage their neo assets.
Despite launching in new investments, the spending habits of Neo Asset Hoarders are pragmatically conservative: 78% of respondents agreed that they prefer to save than to spend, and the same percentage tends to stick to a budget. Another important factor to consider is that 68% of consumers in this group are willing to pay a premium for financial services that support local communities or the environment.
How to engage Neo Asset Hoarders:
- Be crypto-friendly: Offer cryptocurrency services to enable customers to buy, trade and sell freely in their currency of choice.
- Help them reach investment goals: Prioritise financial advice services to help Neo Asset Hoarders reach financial goals and maximise their return on investment.
- Be open to financial change: The move from traditional to decentralised finance is a topic of hot debate. Rather than ignoring or, worse, denying this paradigm shift, be open to change and ready to tackle the challenges of bringing neo asset services to market