Abstract:

ERSTE Group wanted to understand the lifestyles of people over 50 years old, including what segments can be found in their age group as well as what is typical for them. The micro-segmentation and ethnography study we consequently conducted focused only on people 50+ and has helped us to define five groups that vary by both life and financial activity. This enables us to estimate rough market potential for ERSTE Group. Thanks to our in-depth look at pre- seniors and seniors lives, the project resulted in concrete recommendations of what products, services and improvement can be made in bank branches to keep these clients.