Now is the proper time to check in with my good friend Brett King. Many of you have heard of Brett’s company, Moven, which is essentially a mobile bank. I asked Brett why he decided to launch a mobile bank and why he thinks the timing for such a venture might be just right.
I was a little surprised when Brett did not begin his answer with a discussion of banking per se. Instead, he spoke at length about the differences between baby boomers or Gen Xers and the millennials of Generation Y or digital natives of Generation Z.
Brett refers to this new demographic as Generation M. From Brett’s point of view, the M doesn’t stand for millennial. It stands for mobile.
Let me share with you some quotes from Brett’s blog on the Huffington Post:
Baby Boomers and Gen-X have in common the need to experience life in all its glory. Whether that is born out of a sense of adventure, the need for tactile feedback or in the sense of face-to-face social connections, at the core of much of our buying behavior historically has been the need to “touch and feel” a product before a purchase. There’s a subtle shift in this behavior with Gen-Y and Gen-Z/Digital Natives (sometimes collectively called Generation-M or, as Time Magazine called them, the “multi-tasking” generation) that is critical to understand if you are going to engage this community successfully moving forward, and it emphasizes why the physical store is under ...