Who are Generation Z? If you find yourself reflecting on that question, you are probably not part of the Gen Z Club.
For the sake of our larger audience, this demographic represents our youth of today, ranging from 18 years of age and into their early twenties. In fact, economists credit this group as the major driving force behind trends and patterns within the economy.
One main trait of Generation Z is that they grew up in a digital day and age where technology has been the crux of their everyday lives.
Technology has made these youth more connected and well-versed than ever by presenting them with information that is easily accessible at their fingertips. Consumption to Gen Z today does not simply mean owning products but also having unlimited access to them.
It is also precisely because of this availability of information that many have now begun taking greater ownership of their own future after gaining eye-opening exposures.
As they begin entering the workforce for the first time, it is no surprise that they would be dramatically accelerating or changing consumer trends. One such trend that has gained popularity among Gen Z would be more of them jumping into the investment scene in recent years. With an increase in financial literacy, Gen Z is looking at options other than simply saving money in their bank accounts. Investments are now seen as the norm to actively take ownership of one’s financial future.
To stay ahead of the curve, businesses should aim to target this up-and-coming generation by placing more focus on aligning their products and services to suit their needs and preferences. One online broker that has been swift in recognising the potential in this sector would be new trading platform moomoo, which is launched by NASDAQ-listed and Tencent-backed FUTU Holdings Limited.
FUTU has demonstrated to be a leader ahead of the curve as shown by its rapid growth since its founding in 2012. The company’s market value has risen to $22 billion as of Feb 11, 2021, on a stock price of USD$165, which is a 10x increase on its IPO price of USD$12 in March 2019.
Total revenue for FUTU had also increased BY 272.1% year-over-year to approximately US$122.1 million ($161.7 million) while total gross profit increased 314.1% year-over-year to US$98.6 million ($130.6 million). FUTU currently accommodates more than 12 million users from over 200 countries.
moomoo, which is regulated and licensed by the Monetary Authority of Singapore, seeks to tap into the new sector of the younger generation and empower them to take greater ownership of their financial future by providing market accessibility and data options, reducing friction to access global investable products. The platform also offers some of the lowest fees and trading minimums in Singapore for investing in Hong Kong and US securities, futures and options, making it easier for those who might be lower on cash.
For Gen Z, taking control of their lives is not simply limited to how they are perceived on the outside but also, their online presence on social media platforms and digital applications. As such, moomoo’s wide array of product offering of powerful, in-depth and customised analytical tools presents them with the perfect opportunity to gain in-depth knowledge and shape their personal portfolio to their individual identities.
Understanding that taking the first step to making financial choices can be tough, this platform takes them a step closer towards taking charge of their financial future, while allowing them to explore what they wish to achieve in their financial journey.
After all, it is always better to start late than to not start at all.
From now till March 8, users who sign up will receive a welcome bundle worth $180, along with free level 2 market data for the US market, a free AAPL stock and commission-free trading in the US and Hong Kong for a year.