Also known as Generation Y, millennials now represent an important share of the global population, and they have adopted certain trends and habits over the years, which have certainly reshaped the global economy.
They grew in a completely different world from their parents, a world that became globalized and mostly driven by technological innovations. And the result? Their way of life has become so widespread and popular, that even the generations above them and below them have started adopting some of these tendencies.
Intensive use of technology
Compared to baby boomers, millennials are much more tech-savvy. Naturally, given the fact that they were surrounded by technology from a really young age, their behavior and habits revolve around the use of gadgets, apps and such. This is how concepts like e-commerce, remote work, and social media platforms became so popular.
Now that they’re between the ages of 25 and 40, millennials represent the highest spending generation, with a projected $1.4 trillion tab only in the USA. Based on experts at Webacademyst, a leading online academy, this is something businesses need to consider as their revenue can be impacted by how millennials behave.
Heath and wellness
Compared to their predecessors, millennials care more about eating healthy and exercising. According to statistics available on the web, 71% of millennial and Gen Z shoppers look for health benefits when choosing what food to consume, something that’s been amplified by the pandemic even more.
A majority of young people work in the office and since they have a sedentary way of life, going to the gym and practicing sports takes up a large part of their spare time.
Conventional education is not as useful for millennials, as their jobs are relatively new and demand knowledge that can’t be achieved in traditional schools. That led to the emergence of the online education industry, which helps people learn new things remotely.
Platforms like Webacademyst have become increasingly popular among youngsters since they can enroll in courses related to a variety of fields. Online education provides a greater degree of flexibility, allowing people to adhere to their daily work routine, while finding time to enrich their knowledge.
A constant pursuit for diversification
The world is interconnected now and millennials have been aware of different cultures since a young age. They’ve been traveling a lot as well and in the process, their views on how they should live their lives have been influenced meaningfully.
If their predecessors were accustomed to a monotonous and repetitive way of life, that’s being perceived as boring by millennials. Instead, they constantly strive for diversification, looking for new opportunities in different areas.
Putting career before family
Fifth, millennials are not eager to start a family from a very young age. Instead, they choose to build a career, and only once they’ve achieved some goals, it would be the right time to think about personal life.
This comes as a result of increased competition in the business world and a deteriorating standard of living. As money gradually loses purchasing power, people need to work more and be productive in order to take care of themselves.