Classic American beer brands such as Budweiser, Coors, and Miller were once some of the most popular beverages in the United States. Nowadays, you’ll be hard-pressed to find anyone drinking them outside of rural areas in America. These brands suffered a severe decline in popularity, as the younger generation grew up with a much weaker set of classic American values, which is what made these beers so popular in the first place.
Back in the day, American beers made people proud and patriotic. So did American cars, American technology and just about anything American. Nowadays, people don’t really care whether or not a product represents America or is just a cheaper version that was made in China. Millennials are also opting for healthier alternatives, such as fruit shakes, teas and soy milk, with many avoiding beer entirely.
Millennials Aren’t Into Clothing Brands Anymore
With the rise of online retail and today’s Instagram culture, traditional brands such as Prada, Vogue, Channel, Boss and Gucci are becoming shells of their former selves. Once these were considered the best pieces of clothing, jewelry and fragrances that money can buy. Nowadays, anyone can start their own fashion line and sell it online without even owning their own stock.
Today’s millennials and especially generation Z have absolutely no allegiance to traditional brands. Instead, they are attracted to new and exciting brands, and often make purchases due to great prices and awesome marketing rather than brand recognition. Today’s brands are also a lot more focused on the influencers that promote them rather than the brand itself.
Home Ownership Is Practically Gone
One of the happiest and life-changing moments for parents and great-grandparents was the first time they became official homeowners. This used to be considered a staple of the American dream, along with a steady job, two kids, a healthy 401(k), and a couple of cars to boot. Nowadays, young people spend those initial $120,000 on getting into college, rather than getting a mortgage and owning their own homes.
One of the most important reasons for today’s low homeownership is the rising real-estate prices all across the world. Another big consideration is today’s work mobility. It’s often the case that a millennial will switch jobs, sometimes even career paths, more than two or three times every decade. Having a home would greatly limit that ability. Finally, there’s the issue of student debt. With student debts being the highest they’ve ever been, there’s no way for a modern millennial to afford a home.
Almost Everyone Has Ditched Their Landlines
Sometime in the last decade, young people started to realize that there’s absolutely no point in having a landline. You use your mobile phone anytime you want to call someone; it’s wireless, and it’s always on you anyway. Older people have been slower to accept this practical reality, and many still use an old landline out of habit. Recent surveys have found that 66% of all millennials live in a wireless home.
A total of 41% live without landline phones (mostly because many Internet and cable companies provide these for free), and 83% of millennials sleep right next to their cellphones.In addition, most millennials today live in rented apartments, so there’s even less of an incentive to have a stationary phone when you’re moving apartments every other year or so.
They Spend a Lot More Money on Experiences
While millennials don’t spend a lot of money on “stuff”, they do like to spend money on experiences. Many young people today pay out of pocket just to go on an amazing adventure, such as skiing, skydiving, trips and more. Some important reasons that account for this change are social media and having a much more adventurous worldview than Generation X.
Most millennials have Instagram accounts to fill with pictures that show just how happy and successful they are, even if that’s not always the case. This might just account for the higher demand for special experiences, as these also contain the added benefit of counting as social currency in today’s social media culture. Our youth are also a lot more aware of the possibilities in the world, as they are more focused on adventures and self-exploration rather than finding a steady job and owning a house.