The Role of Digital Marketing in Promoting Early Childhood Financial Education: Evidence from Emerging Markets

Abstract

Financial education is becoming more significant than ever in fostering responsible financial behaviour
from a very young age and the growing digitalisation has facilitated the provision and promotion of financial
education. The paper aims to explore the contribution of digital marketing in financial education to children and
young learners in six emerging markets (EMs): India, Brazil, Indonesia, South Africa, Mexico and the Philippines.
The data collection method employed was secondary data analysis and the research design was quantitative and
descriptive. A quantitative and descriptive approach was used to conduct the study using secondary sources such
as the World Bank Global Findex, OECD PISA, GSMA, DataReportal, financial regulators, and financial literacy
organizations. The comparison was done based on the internet and social media penetration, mobile phone
penetration, financial literacy, account ownership, digital payment transactions, and financial education initiatives
by the government and industries. The results indicate that there is significant disparity among the selected
markets. Brazil has a fairly even blend of digital preparedness, financial inclusion, and financial literacy, while
India reports high account ownership even though its internet and social media penetration is not high. The results
also show that financial education is increasingly being delivered to students via social media, interactive financial
education websites, gamification, digital learning materials and school-based programmes.