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Millennials have been hit by two recessions and too many global crises. This generation can no longer afford the same things that Boomers did, and it’s changing many industries. Did you know that they are not buying American cheese? There’s a reason for that. They also don’t like bars of soap! Let’s find out more.
This generation will definitely enjoy turkey at their parents’ house or if someone else cooks. However, Millennials are making “Friendsgiving” more popular, and no one wants to cook a huge turkey as older generations did. They normally get a small bird. They also enjoy their dinner potluck style with their friends. So, no one has to slave away in the kitchen.
Investing is an extremely smart way to create more income in the long run. However, Millennials don’t have savings in the first place. So, there’s no money to invest. Additionally, this generation doesn’t trust companies or banks, and they don’t think they can do it themselves.
On the subject of saving, the truth is that most Millennials have not started planning their retirement. They have a longer life expectancy than older generations, but according to studies, the grand majority don’t have anything saved. Many of them started working during harsh economies and current crises are making things more difficult.
Millennials are the first generation to actually consider if they can afford to have children. Most of them cannot and decide not to have them. Those that take that bold step do it much later in life. Births between women in their mid/late 30s and 40s are increasing. Unfortunately, many Boomers and Gen X might not be grandparents.
In the United States, healthcare can be insanely expensive. However, many people cannot afford regular insurance, at least before the Affordable Care Act. The other factor is that Millennials are one of the healthiest generations. So, they might get that sick and think insurance might be a waste for now. Still, most people that signed for Obamacare when it came into effect were Millennials.
Older generations were always more likely to buy something that a close friend or family member recommended. It still happens today. However, Millennials and younger people trust online reviews much more and don’t want anyone’s opinion.
Going out to eat is fantastic because it’s a change in the routine and easier if you don’t have time or don’t like cooking. However, buying out becomes expensive over time. Millennials need their money for rent and primary necessities. Most of them are cooking at home more and ordering in because it’s cheaper.
Older generations trust their banking entities way more than Millennials. This generation is less likely to be involved with their banks or show any loyalty to the corporation. They will change banks as necessary, and they are not involved customers in other aspects of the economy.
With the invention of smartphones, you can contact anyone at the drop of a hat. So, texting and email is the main form of communication for Millennials. It’s also perfect for bills and most important notifications. The closer they get to regular mail is when they order from Amazon.
It’s hard to imagine anyone using a fax machine anymore, as emails and iPhones have made them obsolete. However, older generations still trust fax machines more. Additionally, Millennials that attended medical school might have to use one still because it’s still important in the healthcare industry.
As mentioned earlier, Millennials prefer email and text messaging to communicate. So, if they are not calling anyone, they don’t need to use voicemail at all. Phone services had special chargers for voicemail, but it’s obsolete now. Some people might call their friends, but if they cannot reach them, they usually send a text.
It’s hard to imagine a time when people traveled around the country using a paper map. That’s a thing of the past nowadays thanks to smartphones. Unless your battery runs out, you really don’t need them. However, some people like using old-school things still. So, it might take a while before they stop printing these maps.
Smartphones are also killing the industry of GPS devices, which most people got for their cars. It’s still useful when you’re traveling and don’t know if they’ll be phone service. However, Millennials certainly don’t spend money on them. They prefer to look for directions earlier.
The independent taxi business is disappearing. Nowadays, it’s all about apps like Uber and Lyft. This system provides reviews, rewards, and other perks that make it much more efficient than taking a normal taxi. Additionally, their destinations are tracked, which makes Millennials feel safer.
Unless you are going to school and need a special scientific calculator for your courses, you probably don’t have a spare one at home. Smartphones have also rendered simple calculators useless. So, you might not even find them in stores that much anymore.
Once again, smartphones have made regular alarm clocks almost obsolete. People tend to pay more attention to their phones in any case. Additionally, they can set several alarms, which might be complicated with normal clocks unless you have a special digital one.
Millennials are also getting rid of paper invitations, as it’s another form of mail that you just don’t need. So, what do they do for a wedding or a big event? Well, there are websites and apps dedicated to keeping track of invitees and R.S.V.Ps. It’s much simpler than worrying if your second cousin is going to send his response or not.
Millennials don’t hate cheese. It’s just that they are trying to avoid processed foods as much as possible. When it comes to cheese, they are looking for more organic options, which has certainly affected the industry. This generation also loves buying their cheese from smaller companies or artisan businesses.
Just like cheese, it’s not that Millennials don’t eat tuna. The issue is that they no longer want it canned. Meanwhile, they prefer fresh or frozen options. You might have noticed that poke bowls have become popular in the last few years. The Hawaiian dish is healthy and includes raw pieces of tuna.
The problem here is that Millennials are trying to avoid sugar. Although raisins have always been considered the healthier choice, this generation doesn’t agree. Grapes and raisins naturally contain sugar. So, companies have to change their ways to approach the newer generations. Sun-Maid launched a new line of sour raisin snack with no added sugar.
Millennials are no longer interested in regular, mass-produced pet food. They are also looking for healthier options for their pets because they are treated like their children. Some are even choosing to make their own pet food at home with lots of veggies and protein. You might think that this is affecting the pet food industry, but big conglomerates that own most brands always adapt to new trends.
While older generations placed a ton of importance on material goods, Millennials care about experiences more. They would rather spend money on a trip. There’s also the fact that this generation spends more on the cost of living than any other. Most cannot afford luxury items. Furthermore, there are now rental services for designer watches, bags, and more. So, ownership is not important anymore.
It’s insanely difficult for Millennials to buy a house these days. They don’t trust banks, and the prices in some cities are almost impossible. Many people have to live with roommates to even afford an apartment. So, Millennials don’t plan on becoming home-owners.
Unfortunately, meat became much more expensive since the recession, which made grain too costly. Furthermore, Millennials don’t know about different cuts of meat and how to use them properly. Some are also trying to consume less beef due to environmental issues.
Do you still have a home phone? These are also disappearing because of smart devices. Your grandparents might still own one, but people under 30 years old have decided against it. It’s just another bill to pay, and it makes no sense anymore if you don’t use voicemail either. Also, if you don’t own a house, you don’t need a landline.
As mentioned earlier, Millennials are not spending much money on material things. However, everyone needs clothes. But instead of saving to buy one great outfit from an expensive brand, this generation loves thrifting. They buy more inexpensive items, mix and match with others, and complete a new outfit.
With the rise of streaming services, cable TV just doesn’t make sense anymore. You can get Netflix for less than $15 a month, but your parents probably paid more than $60 for their TV service. Furthermore, Millennials don’t want to waste time watching commercials, and they can choose what to watch instead of just flipping channels to the least-objectionable option.
The cost of owning a car has also risen over the years. With insurance, gas, and random repairs, some Millennials simply cannot afford it. Many of them probably don’t have enough for a new one even if it’s paid in installments. That’s too many bills. So, public transportation it is!
A wedding is just a big party. Originally, the parents paid it, but it’s too expensive now. People are waiting way longer these days to get married just so that they can afford the event. Most Millennials might still be unmarried by the time they reach 40 according to estimations. Also, some of them choose to just go to a courthouse.
You might have grown up with parents that loved Sam’s Club, Costco, and such establishments. However, Millennials tend to buy online if they need too much of a certain material. They also don’t spend much unless they absolutely need it. There’s no “just in case” purchases.
Millennials no longer keep up with many silly traditions of older generations. If they are not getting married, then they certainly don’t need a diamond ring. However, if they decide to do so, they often choose other, less-expensive gems. Additionally, there’s also the issue of blood diamonds, a trade that this generation doesn’t want to support.
Millennials are more health-minded, and they love to exercise. However, they just don’t enjoy the gym atmosphere as others did. Most of them don’t just get a membership and go around using machines. People prefer to pay for particular classes like CrossFit, yoga, and others.
Fast food in the United States is not particularly different. You have the same options like McDonald's and Burger King, as well as different cuisines like Mexican, Greek, Arab, and more. So, Millennials now look for different options instead of just going to the same burger joint all the time.
Millennials are not entirely giving up on paper altogether. Let’s face it. Using cloth napkins would be a huge pain at home. You’d have to wash them constantly, and that’s not environmentally friendly either. However, this generation prefers paper towels because they are more durable than napkins. You can use just one instead of several during a meal.
Almost every Millennial has a memory of their grandparents or parents buying a ticket. The games make it look like you truly have a chance of winning. Younger generations don’t care about that, and they don’t go to a gas station for scratchers. Additionally, people prefer everything online now. So, some lotteries have adapted to maintain business.
Even before the current global crisis, people were not going to the movies that much. The fact is that a ticket costs almost as much as a streaming service subscription and everything at the concession stand is so expensive. People prefer a run to a local market for snacks and getting cozy at home. Will movie theaters completely disappear?
Millennials have to live in the moment. If they worry too much about the future, they’ll drive themselves crazy. Since they don’t generally plan for expenses nor have any savings, they certainly don’t have life insurance. There are simply other responsibilities, and whatever is left is used on actually trying to enjoy life.
Postcards seemed so romantic, and there might be a few Millennials that still like that idea. However, they buy the postcards and just give them to their friends personally. No use of snail mail here! But this generation doesn’t waste money on that. They rather a picture to their friends through an app or post it on social media.
Most Millennials have no idea why people used fabric softeners in the first place. The fact is that detergents and washing machines were too harsh on clothes. So, it was needed to avoid being uncomfortable all day. Nowadays, it’s pretty unnecessary, and an extra expense that this generation doesn’t want.
Make no mistake, this generation loves wine. The problem is that they don’t like the kind that comes with wine corks. It’s inconvenient. So, Millennials are buying bottles with plastic or aluminum caps, which are not really great for preserving this liquor. Brands are trying to prevent the decline in sales by promoting how much better corks are for the environment.
While Millennials probably grew up eating cereal daily, things changed when they became adults. Some studies say that they don’t eat it because it’s tiring to clean up, but that’s not really true. This generation just knows that some cereals contain tons of sugar. Therefore, they are turning towards granola with Greek yogurt and fruit for a healthier breakfast.
Millennials prefer buying soap in liquid form for every aspect of their lives. It can be a face or body wash. This generation believes that bars of soap are unhygienic and generally inconvenient. Most liquid soaps come in with that pump topper to make things simpler.
Just like fabric softeners, Millennials don’t really see the point of ironing clothes. So, they don’t buy the machines or ironing boards. Many fabrics nowadays are wrinkle-resistant, but there are also cheap mini steamers available just in case you need it. But that’s normally for a special occasion.
Shopping mall culture is disappearing around the country. People don’t buy as much as they used because there’s no money, and anything they need is available online. So, Millennials don’t feel the need to drive to the mall and walk around choosing when they can just click on it. These buildings might be gone soon unless mall-owners come up with a new twist.
Every industry has to adapt to new generations in all aspects or they will disappear. Let us know if you have stopped buying these items too. If you liked this article, share it with your friends that are also Millennials. See you next time!