You are on page 1of 47

INDIAN YOUTH

HABITS,TRENDS AND ASPIRATIONS



Demographics
Age Group Total Males Females
13-19 142701 75972 66729
20-24 89764 46321 43443
Youth, the population aged 1524, constitute some 222
million and represent 20 % of the Indian population

This predominance of youth in the population is expected to
last until 2050

India has a median age at 26 years (as of 2010), trending
towards 28 in 2020






Youth
The mall culture, caf culture and increased
disposable income have changed the way
youth today conduct themselves and manage
their funds.
They are energetic consumers of media,
fashion and lifestyle products
They are motivated and geared with limitless
aspirations

Aspirations
The youth today are increasingly tech-
savvy, lively and fit; politically aware

Job, success, looking good, and being
liked by other people are some of their
key concerns

Going to the gym and looking stylish
plays a large part in there aspirations





HT Survey 2012
Media Preferences
Newspapers, Magazines, Television,
and Internet
Popular social networking websites Facebook and
Twitter turned out to be both tools of social interaction
as well as demonstration.

As digital media grows ever stronger and all-pervasive,
young people are reading less

Newspaper readership fell from 37.4% in 2010 to
23.2% in 2011

While print media faces an uphill challenge, the
fascination with television and the internet has
anything but ebbed
They want better quality, more value-for-
money, superior experience and more.





The number of respondents who used Facebook to make
announcements to their friends jumped from 10.1% in the
previous survey to 20.65% this time around








People want to wear whatever they have as badges of honour
and like to keep constantly updating their facebook statuses
and tweets
Role Models
The youth of the nation embodies all the contradictions
and chaos that characterise contemporary India when it
comes to choosing their role models
Family First
In the global TGI Survey, India ranked highest at
a whopping 76% in the category It is
important that my family thinks I'm doing
well.
SPENDING HABITS
Earn More, Spend More, Save More

Fashion & Attitude
A very large part of the youths
income/allowances are spent on
clothes, sports(gym) and mobile phones
INTERNET
2011 Cisco Connected World Technology Report
1,441 college students (aged 18-24) and 1,412
employees (aged 21-29)
Internet access seems to have become a basic need,
ranking behind air, water, food and shelter for at least
for 33% of the respondents to a global survey by
networking giant Cisco.

In India, 95% of the college students and young
employees surveyed said the internet is as important in
their lives as water, food, air and shelter.

In terms of usage of social networking site Facebook,
Indian respondents were ranked highest in the survey,
with 92% of students checking their accounts daily,
while one-third (33%) check their virtual walls at least
five times a day.

The survey also said 85% of employees in India
confirmed adding their colleagues and managers as
friends on Facebook.
Facebook continues to be the dominant social networking
site for Indians. Of all the countries surveyed, India ranked
the highest in the frequency of Facebook interaction, with
92 per cent of students and 98 per cent of employees
checking it daily.
CAUGHT IN THE NET
* Four of five college students and young employees
believe the internet is part of their daily lives
* Two-thirds of students say a mobile device is the most
important technology in their lives
* About 91% of college students and 88% of the
employees surveyed said they had Facebook accounts
MOBILES
The new Best Friend
Indian youth prefers WhatsApp, Facebook over SMS, calls: TCS
Survey

In India, 50% of the youth (age 15-24) connect to the Internet
through their mobile phones per day while 12% do it once a
week and 13% once a month.
.
Of the Indian mobile users that do access the Internet via their
mobile phones 79% checked their email, 67% use it for social
networking, 54% used it to search, 51% chatted online and 23%
make online purchases.



When comparing Internet usage to watching TV, 56% of
the youths (age 15-24) in India who use the Internet
spend more than 2hrs online/weekday and only 44%
spend more than an hour watch television/weekday.

On the weekends Internet usage for Indian youth
Internet users increase as 69% spend more than 2hrs
online, while those that watch TV more than 3hrs make
only 35% of the age group.

Youths in India that use the Internet look-up company
and product/service information on social media pages
the mostly (67%), with visiting the company website site
or online news as a secondary source (54%) and visiting
review sites a third most used source (42%).

In the survey responds mostly research mobile phones
online before purchasing one (85%), followed by
laptops/tablets (79%) and cars/bikes (67%).

61% of all the Indians surveyed have been using the
Internet for more than 2 years, 19% between 1 and 2
years, and 20% for less than a year.

Financial Knowledge
Study by IIM Students based on Visa Financial
Literacy Survey
Sample Size consists of 1000 students and 1000
early jobbers
Financial knowledge component measures understanding of interest
calculations, relationship between ination and return, ination and
prices, risk and return, and the role of diversification in risk reduction.
Variation in financial knowledge by demographic
and socio-economic subgroups


Gender Domicile Education Income
Females score
less than males
but this is in line
with
international
experience
Employees with
rural
background
perform worse
than those with
urban
background
Employees with
rural
background
perform worse
than those with
urban
background.
Respondents in
the higher
income groups
appear to have
greater financial
knowledge.

Awareness of Financial Products
Only about 7% among the young employees have heard of all the
commonly available products
Awareness about even fixed deposits, a very common product available
with the banks, is not universal.
More than half of the young employees are not aware of employee
specific vehicles for long-term wealth creation like PPF and pension-fund.
Awareness about many of the financial market saving vehicles, like
shares, bonds, and mutual funds is not very high
About one-fourth of the employees seem to be aware of only three
products, which include savings account, fixed deposits, and insurance.
Less than a quarter of the respondents depend on independent financial
advisers and advertisements..
As one would expect, the young employees appears to rely more on the
internet as a resource of information. They also seem to rely relatively
more on their own experience.
YOUTH BANKING
Indian Banks

Axis Bank
IDBI Bank
South Indian Bank
Tamil Nadu Mercantile Bank
Vijaya Bank
Indian Banks Offering Youth Banking Services
Axis Bank- Launched in November 2012, the product, named 'YOUth account'
is targeted at the youngsters, particularly students, in the age group of 18-25 years

IDBI Bank- Launched in August 2012, the Being Me account is targeted at
the youth, in the age group of 18-25

South Indian Bank- The Youth Plus Account launched in the year 2007 is
targeted at the newly employed youth and students in the age group of 20-35

Tamil Nadu Mercantile Bank-Targeted at the 17-35 age group

Vijaya Bank- The V Genuth Savings Bank Account is an account targeted at
students. Any one of the age 0-18 and any student more than 18 years of age can
open this account

AXIS BANK
YOU
th
Bank Account
PROS CONS
Separate mini website with vibrant
colours and youthful language.

Zero balance Account

Customized and self designed debit
cards

Online Money pulled from parents
account as per limit set by them

Offers on movie tickets, online
shopping etc

Specialised YOU
th
mobile app for
recharging and transferring funds
Annual Debit Card fees of Rs.400
per taxes

Limited following of the Y app on
facebook


IDBI BANK
Being Me
PROS CONS
Zero Balance Account

Preference for Project work
at Bank (subject to availability
of seats)

Training on financial planning

Discounted charges for
opening of share trading
account with ICMS

Online options to pay your
bills or tax

Preferential rate on
educational loan

Although it promises to tie up
with different merchants to
provide offers from time to
time, they fail to live up to it


Although a loyalty points
program is in place, it is not very
youth oriented

South Indian Bank
Youth Plus
Bank Account

PROS CONS
FREE for life International
Credit Card

Facility to open Depository
account.

Preference for Project work
at bank, subject to availability
of seats.

FREE subscription of
Students Economic Forum by
e-mail
Min Quarterly Balance of
Rs.1000


Penalty for non maintenance
of minimum balance Rs. 250
per quarter.

Tamil Nadu Mercantile Bank
PROS CONS
Waiver of Demat
account opening charges

Stock Trading Platform
Facility for opening Offline
Share Trading account
with M/s. Religare
Securities Limited

Free Personal Accident
Insurance Cover
for Rs.1,00,000
Although it attempts to
cater to the youth it does not
have any features that would
instantly appeal to its target
audience

Min Quarterly Balance of
Rs.1000

Penalty for non
maintenance of minimum
balance Rs. 250 per quarter.

VIJAYA BANK
V Genuth Bank
Account
PROS CONS
While banks like Axis and IDBI require
Rs.3000 and Rs.1500 to open the bank
account, this account can be opened
with merely Rs.10
Zero Balance Account
Balance in Savings bank Account in
excess of Rs.10,000/- transferred to
Term Deposit Account in multiples of
Rs.5,000/- to earn more interest
No fee for payment of School fees,
Hostel fees, etc. through the account
Offer of Education loan at concession
of 0.50% on the prevailing rate, in
recognition of continued relationship.
Interest earned on credit balances in
V GenU TH is presently free from
TDS provisions



Basically a product catering to
students. The scheme is not available
to salaried youth

Due to the nature of product the
account has been tailored to be
handled by the guardian

Gets converted into a normal
savings account on attainment of
majority

Free Services
Axis
Bank
IDBI
Bank
SIB TN Merc
Bank
Vijaya
Bank
Mobile/Tele Banking Service
Internet Banking facility
ATM cum Debit Card
Inward fund transfer *
Personalised Cheque book
usage of our ATM network

You might also like