GenZ and Millennials in India are resolving differently in 2021, finds a survey by slice – a leading payments and credit startup. The survey asked close to 2000 people between the ages of 18 and 30 on how they are resolving in 2021, and found that 3 in 4 respondents believe their 2021 resolutions are going to be vastly different from 2020. 62% of the respondents also claimed that the pandemic has played a major role in influencing their resolutions this year.
Health & finance emerge as the top resolution categories for young Indians. In addition to go-to resolutions like “eating healthy” or “joining a gym”, over 50% of the respondents also said that they are keen on investing in health insurance this year to safeguard themselves and their loved ones from unforeseen situations. Interestingly, “self-care & mental health” overtook physical fitness as a priority for youngsters under health-related resolutions.
Under finance, ‘Investing money’ emerged as an important resolution for this generation who are increasingly looking to secure their financial future. 57% of the respondents said they would like to invest better versus 21% who said they would like to save more. ‘Mutual funds’ was the most popular investment option while ‘gold’ was the least popular. A whopping 81% of the respondents also said that they are open to looking beyond their bank to meet their changing & growing financial needs – including but not limited to credit needs, insurance and short & long term investments.
Commenting on the survey findings, Rajan Bajaj, Founder & CEO, slice, said, “Time and again we have observed that genz and millennials are a lot more responsible towards their lives and goals than what they are given credit for. The same reflects in the findings of this survey, with this generation prioritizing their health and financial security over ‘materialistic’ goals. The survey also shows that the pandemic is going to have a long-term impact on the mindset and priorities of young Indians, and it is imperative for businesses to understand that in order to serve them well. As a young team, we at slice understand this consumer very well and our 2021 resolution is to become the go-to financial destination for them.”