Canada Banking Consumer Habits 2024

Gen Z Is Crowdsourcing Its Banking Research

Gen Zers are banks’ richest source of customer acquisition, but their customer journey is shaped much more by crowdsourced information than other generations’. Our inaugural survey of 1,598 banking consumers in Canada spotlights Gen Zers’ unique behaviors to help banks drive conversions.

Key Question: What are the differences between Canada Gen Zers and other generations when it comes to product discovery and consideration?

Key Stat: Banks are losing the fight for influence over Gen Zers on social media. Just 27.3% called bank-generated content the most trusted source of banking information, while 60.6% cited customer-generated content.

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Table of Contents

  1. Executive Summary
  2. Gen Z is reshaping the early stages of the customer journey
  3. Mobile and web take the lead in building Gen Zers’ awareness—but email is holding its own
  1. User-generated content is shaping Gen Zers’ consideration stage
  2. Gen Z sticks to the status quo when it comes to actually buying banking products
  3. Methodology
  1. Survey Demographics
  2. Media Gallery

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Maria Elm


Suzy Davidkhanian
Principal Analyst, Retail & Ecommerce
Tiffani Montez
Principal Analyst, Banking
Jennifer Pearson
VP, Research

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