Bank of America

Trends in Consumer Mobility Report

Summer 2017

Our Bank of America Trends in Consumer Mobility Report explores timely mobile trends and forward-looking consumer behaviors that increasingly impact our everyday lives. The latest iteration includes the youngest generation – Generation Z – to better understand the future of mobile and the next era of banking.

Head of Digital Banking Michelle Moore highlights key findings from the report in the video below.

Growing up a digital native

Self-searching

Across generations, consumers are keeping an eye on their digital presence, with millennials and Gen Zers the most likely to Google themselves.

Gen Zers

48

Millennials

57

Gen Xers

45

Baby boomers

37

Seniors

22

140 characters or less

The overwhelming majority of Gen Zers rely on new forms of communication with emojis, social media and acronyms topping the list.

  • Emojis

    79
    95
  • Social Media

    77
    88
  • Acronyms

    69
    87
  • Selfies

    45
    81
  • Videos

    66
    83

My mobile, my everything

Sharing it all

Consumers want their mobile devices to track the majority of their daily activity, with millennials the most comfortable.

  • Location

    Total respondents: 37%
    . Millennials: 44%
  • News preferences

    Total respondents: 29%
    . Millennials: 37%
  • Schedule

    Total respondents: 47%
    . Millennials: 62%
  • Spending

    Total respondents: 26%
    . Millennials: 45%
  • Physical activity

    Total respondents: 39%
    . Millennials: 51%

The role of digital in life priorities

Parenting in the digital age

Most parents keep close tabs on their children's technology use, with nearly half citing they monitor everything.

What best describes your relationship with your children and technology?

  • I monitor everything
    I have all of their passcodes

    49
  • We have boundaries
    I keep my distance but don't hesitate to step in

    46
  • I respect their privacy
    Their technology is their business

    5

Evolving financial landscape

Mobile majority

More than three in five Americans say they use a mobile banking app, significantly increasing over the past several years. While millennials lead the charge, adoption is strong across all generations.

  • 2017

    62
  • 2016

    54
  • 2015

    48

Discover more with Bank of America

Media Contact
Betty Riess, Bank of America, 1.415.913.4416.

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