BPG worked with Gulf Bank to launch a banking product that recognizes and celebrates Kuwaiti youth. By simplifying and customizing banking for customers, BPG helped create a true youth-focused lifestyle brand with engagement and storytelling at its core, with minimal disruption to the older Gulf Bank customer. The refreshed Gulf Bank Red brand leverages exciting new product features and digital content to draw in young Kuwaitis – with tremendously positive results.
Kuwait is a young country with 11% of Kuwaitis within the age of 15-25, making this demographic an important segment for banks. Market research revealed there was no brand that excited or resonated with the youth. Inspired by the importance that Kuwaiti youth place on self-individuality, expressed in both, their physical and digital worlds, BPG re-launched the Gulf Bank Red Account.
Shift in consumer attitudes
After the relaunch of ‘Red’, social media metrics revealed exponential growth. The number of new customers in the youth segment increased by 400% within the first 6 months (July to December 2021 as compared to the same period last year). Furthermore, the relaunched ‘Red’ saw student accounts increase by 545% compared to the previous year. A definitive shift in youth attitudes to banking – thanks to the refreshed Gulf Bank Red brand.