Consumers who engage with finance content and ads on their mobile devices (”mobile finance users”) are disproportionately young and male, and place a high value on brands, finds Millennial Media [download page] in a May 2012 study conducted in partnership with comScore. While 25-34-year-olds make up only 17% of the mobile audience, they account for 32% of mobile finance users. Similarly, 18-24-year-olds, who make up 13% of the mobile audience, represent 21% share of those using mobile finance. Overall, mobile finance users are also more likely to be male (55%) than female (45%).
A March 2012 report from the Federal Reserve found a similar trend, showing that mobile banking skews young: those aged 18-29 made up 43.5% of users, relative to 22% of mobile phone users, while those 60 and older represented just 6% of mobile banking users, while holding 24% share of all mobile phone users. Read the rest at Marketing Charts.