Keeping up with the Millennials
It’s easy to be envious of millennials. They’re the first of the digital native generations and seem to have it all their own way.
Yes, there are some clear disadvantages to being a millennial. They’re on lower salaries than previous generations were at their age, despite having higher levels of student loan debt. But that doesn’t stop them from spending. They’re savvy when it comes to money and can access pretty much everything 24/7, which means thousands and thousands of choices at their disposal. And they use this knowledge to their advantage, researching thoroughly, and knowing just how to get the best product at the best available price.
But which areas do millennials benefit the most from and how do the rest of us keep up? A very good question, considering that 43.4 per cent of Norwich’s population is under 30 and 33.4 per cent of Norfolk’s population is also under 30.
“State Farm and Harris Poll conducted a S” (CC BY 2.0) by State Farm
Technology
Technology is the most obvious departure from previous generations. Millennials were born with a device in their hands, so are much better when it comes to multitasking and utilising digital media in more innovative and flexible ways.
Technology isn’t just responsible for how millennials access information, however; it’s changed how they think. It has modified cognitive functioning for everybody, but especially for youth. As brains form at a young age, those in younger people are forming differently due to immersion in technology.
Going mobile
The difference between generations is even more apparent when it comes to mobile technology. With a number of luxury brands, in particular, there has been a rise in web browsing from three or four percent in 2010 to 10 per cent. Some are edging towards 20 per cent on a mobile device.
Being familiar with technology offers numerous benefits. For example, they’re used to using their devices to watch television, as opposed to on a TV set. Hundreds of box sets and movies are accessible to them with just a few clicks of a button. The same can be said for useful applications, whether for checking travel times counting calories, or posting videos. They can also play games on their smartphone, of course; whether regular games, including Candy Crush Saga and Fruit Ninja, or those available at an online casino (with free spins to boot) such as Casino Euro.
The best way to keep up with millennials is to educate yourself in technology, especially when it comes to buying and using everyday devices, such as your computer or smartphone.
“Millennial Scrabble” (CC BY 2.0) by jeffdjevdet
Social media
Millennials feel more powerful as a result of being constantly in touch via Facebook, Twitter, and text messages. They know, as consumers, that they can advocate a product and win support, or inflict damage on a retailer they feel has treated them unfairly.
They’re “social”- Millennials have been brought up in a world where social media is the order of the day. They engage seamlessly across all social and traditional platforms.
It’s never too late to use social media by creating Facebook and Twitter profiles and log in each day to share your thoughts, opinions, and selfies; as well as engage with others, of course.
Millennials prioritise experiences over materials
This is the generation that places value on experience. They aren’t necessarily looking to buy cars, but to ride share. They aren’t looking to buy holiday properties either; they would prefer to rent each time. They also aren’t interested in compiling huge DVD collections, preferring to stream movies on Amazon and Netflix. And they don’t want to stock up on a huge pile of CDs, instead choosing to stream music on Spotify.
Older generations are not only more likely to be stuck in their comfort zone but tend to judge each other on material possessions. To keep up with millennials, it’s a case of being willing to change mindset and getting out there and enjoying life.
Millennials take social issues very seriously
Millennials may not be the richest generation, but they have proven to be willing to spend more when dealing with organisations that they feel protect the environment or other causes that matter to them. They often shop at budget stores: not simply to save money, but again, for environmental reasons.
A recent study by Nielsen revealed that in spite of harsh economic climates, millennials continue to pay more for sustainable goods and services – close to 75 per cent of those surveyed, an increase from approximately half of that in 2016.
The information age has resulted in a more educated generation, with regards to what’s going on in the world, with millennials not limited to mainstream news.
Each of us has access to the same information; it’s just a question of being willing to look.
