The Influence of Digital Influencers on Generation Y’s Adoption of Fintech Banking Services in Brazil

António Cardoso, Manuel Sousa Pereira, Amândio Silva (), André Souza, Isabel Oliveira and Jorge Figueiredo
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António Cardoso: Department of Business and Communication Sciences, University Fernando Pessoa, 4294-004 Porto, Portugal
Manuel Sousa Pereira: Escola Superior de Ciências Empresariais, Instituto Politécnico de Viana do Castelo, 4930-600 Valença, Portugal
Amândio Silva: Instituto Superior de Contabilidade e Administração de Aveiro, Universidade de Aveiro, 3810-193 Aveiro, Portugal
Isabel Oliveira: Faculty of Economic and Business Sciences, Lusíada University, 4100-348 Porto, Portugal
Jorge Figueiredo: Faculty of Economic and Business Sciences, Lusíada University, 4100-348 Porto, Portugal

Sustainability, 2024, vol. 16, issue 21, 1-27

Abstract: The consumer profile has undergone evolutions and transformations over the years due to the evolution of new generations of individuals, such as Generation Y. Social media has revolutionized the way in which consumers can search and find information about products in general, which has impacted how brands relate to their consumers. In this context, this study tries to understand how digital influencers are being used to influence Generation Y in the consumption of banking services from fintechs in Brazil via social media platforms. The specific objectives include profiling these consumers, identifying the most relevant influencers, and measuring the impact of influencer marketing. The results pointed to Generation Y’s preference for mobile applications and personal recommendations when making decisions to purchase financial products. Fintechs stood out for the agility and autonomy they offered, as well as for being on the forefront in leading practices, innovations, and product offerings that drive sustainability forward. The study concluded that digital influencers play a crucial role in the awareness phase, but additional factors influence Millennial consumption decisions, highlighting the complexity of the decision process.

Keywords: digital influencers; social media; banking services; fintechs; Generation Y; consumer behavior; influencer marketing; sustainability (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2024
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