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

Author

Listed:
  • 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)

  • André Souza

    (Department of Business and Communication Sciences, University Fernando Pessoa, 4294-004 Porto, 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)

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.

Suggested Citation

  • António Cardoso & Manuel Sousa Pereira & Amândio Silva & André Souza & Isabel Oliveira & Jorge Figueiredo, 2024. "The Influence of Digital Influencers on Generation Y’s Adoption of Fintech Banking Services in Brazil," Sustainability, MDPI, vol. 16(21), pages 1-27, November.
    • Handle: RePEc:gam:jsusta:v:16:y:2024:i:21:p:9604-:d:1513880
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    References listed on IDEAS

    as
    1. Bailey, Ainsworth Anthony & Bonifield, Carolyn M. & Arias, Alejandro, 2018. "Social media use by young Latin American consumers: An exploration," Journal of Retailing and Consumer Services, Elsevier, vol. 43(C), pages 10-19.
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    3. Muhammed Basid Amnas & Murugesan Selvam & Mariappan Raja & Sakthivel Santhoshkumar & Satyanarayana Parayitam, 2023. "Understanding the Determinants of FinTech Adoption: Integrating UTAUT2 with Trust Theoretic Model," JRFM, MDPI, vol. 16(12), pages 1-23, December.
    4. Viswanath Venkatesh & Fred D. Davis, 2000. "A Theoretical Extension of the Technology Acceptance Model: Four Longitudinal Field Studies," Management Science, INFORMS, vol. 46(2), pages 186-204, February.
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