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Women Research Financial Products on the Net

A hot spot in the recent resurgence of the Internet is its growing use for banking, lending and credit card products by young women age 18-29, according to findings from the American Interactive Consumer Survey conducted by The Dieringer Research Group, Milwaukee, Wisconsin. The study surveyed 2000 U.S. adults by telephone in the second quarter this year.

Well over half (57%) of all online women age 18-29 have researched financial service or insurance products online, compared to only 41% of young men, the survey concludes. If the online women are 25 to 29 years old, nearly two-thirds (65%) have researched financial and insurance products online.

"These findings confirm that many young women have been online long enough to feel confident using the medium for financially sensitive activities," said Pam Renick, Executive Vice President of The Dieringer Research Group. "Online finances are no longer just a ###guy thing.###"

The importance of the trend is underscored in the anchor financial activities of online banking and bill payment, which women age 18-29 are nearly half again (64%) as likely to use as comparably aged men (44%). In the peak activity segment of 25-29 year-olds, the survey found that 82% of all online women now bank online, and 49% report that they pay bills online.

Bank accounts, bank savings products and credit cards are the top financial products researched online by women in the 18-29 age group. In each product category, women are more likely than comparably aged men to go online to seek product information. Ironically, young adult men are more likely to say that online information changes their financial service brand opinions, but young adult women who are online are more likely to actually open new accounts.