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.
Traditional Beers and Classic Alcoholic Drinks
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.
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.
Buying Cars, Especially Gas-Based Vehicles
While one of the biggest signs of adulthood used to be getting a car, owning a vehicle today is considered both a privilege and a waste of money. Young people today are much savvier when it comes to the environment, and also have amazing apps that allow them to order taxis and rent electric scooters and bicycles at any time, from any place.
This is clearly shown in various recent statistical changes, including the fact that over the last eight years, the number of young adults who got their driver’s license between ages 18 to 25 went down almost 25%. While experts try to chalk this major shift down to young people preferring public transportation and their favorite ride-sharing apps, it’s clear that vehicles are becoming more streamlined, while car dealerships are becoming a thing of the past.
Millennials Buy Clothes For Pleasure, Not For Necessity
Clothing brands used to focus their marketing on either brand recognition or the usability and comfort of their clothing. One of the biggest changes in today’s marketing when it comes to clothing is a much bigger focus on luxury and fun, rather than usability. When millennials buy clothes today, they don’t buy them because they necessarily need clothes, they buy them as a luxury, which changes the whole game for these brands.
It’s much more likely today that you’ll find fashion companies focusing on the influencers that promote their products, and how their clothing helps you “define yourself” better. The focus today has shifted from “basic survival” to self-expression when purchasing clothes, a fact that is clearly visible if you compare a clothing ad from the ‘80s and ‘90s with one from today.