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Survey Results
Based on a sample size of:
140 Survey Respondents
A comprehensive analysis of our findings from our study conducted on our target audience (youths studying in SP)
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HEARD OF/BEEN TO HANGOUT@UOB
Yet, 72.9% of respondents have heard of/been to Hangout@UOB at SP
% OF RESPONDENTS WITH A UOB ACCOUNT
67.9% of respondents do not have an existing UOB account
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The conversion rate of Hangout@UOB could be improved. Respondents are aware and have been into Hangout@UOB at FC5 but were not enticed to open a bank account
A large majority of respondents only visited Hangout@UOB to check out events hosted by the UOB team or to chill & study, highlighting the lack of incentive to open a bank account
INSIGHT
92.8% of youths spend >1 hour on social media platforms daily, with 42.1% spending >3 hours
HOURS ON SOCIAL MEDIA/DAY
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IS UOB A SUSTAINABLE BANK?
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A majority of respondents (51.4%) do not consider UOB to be a sustainable bank
KNOWLEDGE OF EXISTING UOB SUSTAINABILITY EFFORTS
97/140 respondents have ZERO knowledge of UOB's existing sustainability efforts
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WILLINGNESS TO OPEN A UOB ACCOUNT
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Most importantly, 70% of respondents would be more open to a banking relationship with UOB if they were aware of existing sustainability efforts by the bank
INSIGHT
As respondents respond positively to sustainability efforts by the bank, it is important for our solution to incorporate aspects of UOB's existing sustainability initiatives (e.g., Sustainability through Art)
A ground-up marketing campaign to increase awareness of existing initiatives through association with our product will set UOB's name in stone as a sustainable bank for the people
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MOST COMMON MODE OF PAYMENT
83.6% of respondents indicated that either physical or digital card payments were their most used mode of payment
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NUMBER OF CARDS IN WALLET
92.9% of respondents carry > 3 cards in their wallet currently
Yet, 60% of respondents felt that ≤ 3 cards were essential for them on a daily basis
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ESSENTIAL CARDS
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FACTORS THAT AFFECT CHOICE OF CARDHOLDER
Out of all factors, the greatest number of respondents (124) consider design as a factor that affects their choice of cardholder
Most respondents carry large wallets but only use about 3 cards in their wallet daily
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Our solution should accurately consolidate the number of cards that our customers carry around with them while maintaining customizability
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