How Millennials Spend Money
Posted: Thu Jan 30, 2025 3:56 am
The millennial generation has a completely different lifestyle and interests compared to their parents. This is often associated with losses for big business. For example, millennials often prefer to watch a movie at home rather than go to the cinema. Moreover, TV series have replaced movies.
Millennials have been going to the cinema less in recent years, experts estimate, and even less intelligent superhero movies don't appeal to them as much as they once did. But the movie business isn't the only one negatively affected by the millennial lifestyle. There are other industries that are suffering losses because of millennials.
How do millennials spend money?
Source: shutterstock.com
What are Gen Yers giving up today?
They don't need:
napkins (paper towels are australia email list used more often);
bar soap (buy liquid);
running (millennials prefer going to a sports club, there is no place for competition);
standard work week (many want to work remotely and freelance);
business style of clothing, high fashion (prefer a more relaxed style);
jewelry (according to millennials, spending money on jewelry is pointless; it’s better to spend this money on something more interesting, such as traveling).
It is common today to blame the Y-groups for the global problems of the modern world: they are to blame for the collapse of democratic values, the European Union, etc.
Currently, the millennial generation occupies the largest niche among consumers – 35%.
However, there are difficulties. Understanding the needs of the Y and organizing the promotion of products is not so easy. Millennials, compared to previous generations, make their choice based on some message from the seller company, but they do not care much about the brand history.
Often, millennials are willing to pay more for their purchase if they know that the company will donate part of the money earned from sales to some good cause. According to sociologists, such people make up about 50% of the total number of representatives of Generation Y. Idea and style are important to millennials.
It must be said that the unconventional approach to consumption and lifestyle of people of this generation really scare business owners who are suffering losses. And it seems that this process cannot be stopped.
Tim Garner, a 35-year-old real estate developer, says his business could collapse because young people spend their money on restaurants and coffee shops, are unwilling to save for home ownership and make too many unnecessary purchases. Millennials are people who want to eat well and travel as much as possible.
Millennials have been going to the cinema less in recent years, experts estimate, and even less intelligent superhero movies don't appeal to them as much as they once did. But the movie business isn't the only one negatively affected by the millennial lifestyle. There are other industries that are suffering losses because of millennials.
How do millennials spend money?
Source: shutterstock.com
What are Gen Yers giving up today?
They don't need:
napkins (paper towels are australia email list used more often);
bar soap (buy liquid);
running (millennials prefer going to a sports club, there is no place for competition);
standard work week (many want to work remotely and freelance);
business style of clothing, high fashion (prefer a more relaxed style);
jewelry (according to millennials, spending money on jewelry is pointless; it’s better to spend this money on something more interesting, such as traveling).
It is common today to blame the Y-groups for the global problems of the modern world: they are to blame for the collapse of democratic values, the European Union, etc.
Currently, the millennial generation occupies the largest niche among consumers – 35%.
However, there are difficulties. Understanding the needs of the Y and organizing the promotion of products is not so easy. Millennials, compared to previous generations, make their choice based on some message from the seller company, but they do not care much about the brand history.
Often, millennials are willing to pay more for their purchase if they know that the company will donate part of the money earned from sales to some good cause. According to sociologists, such people make up about 50% of the total number of representatives of Generation Y. Idea and style are important to millennials.
It must be said that the unconventional approach to consumption and lifestyle of people of this generation really scare business owners who are suffering losses. And it seems that this process cannot be stopped.
Tim Garner, a 35-year-old real estate developer, says his business could collapse because young people spend their money on restaurants and coffee shops, are unwilling to save for home ownership and make too many unnecessary purchases. Millennials are people who want to eat well and travel as much as possible.