Dear MEL Topic Readers,
What will millenniums kill this year?
Who are Millennials, or Generation Y? They are people who reached adulthood around the Millennium, born between 1977-1994 in the US. They are the largest cohort since the Baby Boomer, their parents. They are known as incredibly sophisticated, tech-wise, immune to most traditional marketing and sales approaches, which they have been exposed to since they were in their early childhood. They are also flexible and changing in fashion, style, and communication as they grew up with the Internet.
Their influence on traditional businesses has been significant. Many traditional businesses, such as restaurants, fitness gyms, newspapers, packaged food like cereals, which that had been developed by their parents’ generation, have witnessed a sharp decline in their revenues. They don’t look exciting or anything to this generation of people because they grew up with them. Rather, they seem to be looking for and adopting new things and styles that have been created by their own generation. SNS rather than emails, chatting online rather than talking on the phones, takeaway food rather than sitting in a restaurant, touch screen rather than the keyboard. It is not surprising to see many of the new dominant businesses, such as Amazon, Facebook and YouTube were all created by their generation.
Sounds like children are killing their parents’ businesses and traditions.
Enjoy reading and thinking how adaptable you are to arising technologies, styles and trends.