Beyond a horoscope: Chase leans into astrology to reach Millennials

The way consumers spend money reflects a lot about their personality. Tastes, values and habits are revealed through behavioral spending choices. Chase recently partnered with Refinery29 to see if consumers’ zodiac signs reveal a correlation to their spending habits.

As part of its 2018 Credit Outlook survey, Chase Slate interviewed more than 2,000 Millennials to find common themes in spending and saving habits among the 12 astrological sun signs. To share the findings, Chase took a cross-media approach to capture the interest of their core Millennial demographic.

Interest in astrology is not a phenomenon tailored to the Millennial generation, but the manner in which companies, brands and publications have managed to weave it in to more aspects of an everyday lifestyle is unique to this generation. Astrology hits on several themes that make it relevant and appealing to Millennials.

Millennials tend to be more spiritual versus religious, creating room for astrology to have more of an impact. According to Mintel research on marketing to US Millennials, nearly a quarter say their faith makes them unique compared to nearly half who feel their passions make them unique. In addition, almost two-thirds of US Millennials say they want to stand out. Millennials are also more willing to learn about astrology and how their signs characterize them.

As discussed in Mintel’s 2019 Global Consumer Trend ‘Redefining Adulthood,’ Millennials are a generation overwhelmed with information about how and why they should do something and they’re looking for brands to provide guidance in a way that resonates with how they prioritize their life choices and financial decisions. Astrology provides Millennials with a sense of guidance that they tend to crave, even if it leans more fun than practical.

The other connection Chase made is that suggested areas of spending listed for every sign fit within the typical categories that Millennials often spend their money on. Chase noted everything from ride shares, takeout and houseplants to streaming subscriptions. The spending habits of Millennials are distinctly different from their older counterparts and financial institutions have to adjust to that.

What we think

By featuring content that speaks to Millennial money habits in the context of astrology, Chase took an unconventional approach that is informative and relatable. Ultimately, Chase created a personal touchpoint that is likely to resonate with younger Millennial women in particular. This unique approach plays into Chase’s larger social media strategy, its efforts to humanize the brand and drive brand loyalty by utilizing a strategic mix of content to reach relevant audiences in a manner that suits their consumption preferences.

Diana Kelter is a Senior Trend Analyst at Mintel. She investigates how cultural, lifestyle and technology shifts take shape across sectors and leverages Mintel data across trend observations.

Jeannette Ornelas is a Senior Digital Marketing Analyst at Mintel. Jeannette is responsible for producing syndicated and custom reports and providing omni-channel insights that enable clients to thrive within the digital space across a range of industry sectors.