Age plays a factor in channel preference.

• Position: MARKETING NEWS - Brief article

A NEW SURVEY CONFIRMS WHAT MARKETERS HAVE LONG SUSPECTED: that preferred banking channels vary widely by age group.

Thirty-eight percent of consumers age 67 or older list the branch as their preferred channel, but the percentage declines as the age goes down, according to a consumer survey conducted by Market Rates Insight, San Anselmo, Calif. Only 31 percent of baby boomers (ages 47 to 66) cite the branch as their preferred channel. Among Gen X consumers (age 36 to 46), the percentage drops to 25. Among Gen Y (ages 18 to 35), the rate declines to 24 percent.

When it comes to mobile banking, none of the elderly consumers listed it as their preferred...