Embracing Millennials’ Adventurous Side

Concert CrowdMillennials are adventure-seekers. They want to live in the moment, have fun with their friends, and make memories. They’re willing to spend their money on experiences such as concerts and trips to have a good time and document what they’re doing. As affordable adventures become increasingly important to Millennials, companies should take note and find ways to offer them experiences as well.

We often hear that Millennials want to be a part of epic activities whether that’s attending the coolest concert, partaking in a fun ski weekend with their friends, or making their own fun while thrift shopping. They want to have a story to share and pictures to prove how awesome it was. FOMO (fear of missing out) and YOLO (you only live once) became common catchphrases in the past year, highlighting this Millennial mindset that you should live your life to the fullest. Moreover, social media has amplified this sentiment. Millennials, now more than ever, have exposure to everything they are missing out on, making them more inclined to do and try everything. Where one checks in and what images they post help garner likes and social currency. That doesn’t mean material possessions don’t matter to Millennials, but they’re very interested in experiences that they can partake in with their friends and share with the rest of the network.

However, given the difficult economy, Millennials are practical in how they pay for these adventures. Many use sites such as Groupon or LivingSocial to achieve these cool experiences at a reduced cost. They’ll try a restaurant they may not ordinarily be able to afford, or plan a cool activity like whitewater rafting. They may do these things ordinarily without using deal sites, but regardless, they’re savvy in figuring out options that fit their budget and they’re…

 
 
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Millennial News Feed

Quote of the Day: “I haven’t had children yet because I'm still working on getting my life in order.” –Female, 26, CA

Why did Apple face a backlash for gifting U2's new album to 500 million users? It seems that the marketing play went awry in part because those users found it “creepy” that Apple was able to invade and alter their music collection without their permission. Many of them got vocally upset, and Apple has released a free tool to allow people to delete the free album. The incident has shown that consumers are not comfortable with their technology being manipulated without their knowledge and approval, even if it means they’re getting a ”gift.” (PR Newser)

Though Millennials might not be buying houses en masse at the moment, they do want to own one in the future, and the use of real estate apps and sites is actually on the rise among 25-34-year-olds. As these consumers continue to move towards becoming home owners, they will “shape the future of the housing and mortgage industries.” Millennials will be looking for plenty of amenities, want to be close to the things they need, and desire smaller spaces that are more efficient and perhaps less formal than homes of the past. (Marketwatch)

Viral video watch: YouTube user Kutiman’s mashup of 23 separate, and unrelated, music videos into one song called “Give It Up” has earned over a million views in the last five days. The videos used include a six-year-old practicing piano, a drum tutorial, and plenty of individuals just playing their instruments alone for the camera, all combined to become the background track to Kutiman's vocals. The creative combination clearly appeals to Millennials’ hybrid music tastes. (Daily Dot)

Toms is arguably the most successful brand to tap into young consumers’ desire to save the world on the side, and incorporate social good into their purchases. Now Toms is partnering with Target for a new collection that, of course, has a charitable twist. Toms for Target will include clothes, shoes, and home goods for under $50—and for each purchase, Target will donate supplies like meals and blankets to a variety of charities. The collection will be in stores starting November 16th—just in time for holiday shopping season. (Fast Company)

If you haven’t heard of Destiny yet, it’s time to catch up: it is the most expensive video game ever made, and also the most pre-ordered in history. From the creators of Halo, the post-apocalyptic, visually stunning game was highly anticipated; its beta test this summer was downloaded by more than 4.6 million and the gameplay trailer was viewed more than 6 million times in only a few weeks. Destiny was released just last week and is expected to be an enormous hit—and potentially the next big franchise in gaming. (Washington Post)

Twice a month, we provide our Gold subscribers with a topline report that synthesizes hand-picked, illuminating data points and our insights and expertise. Interesting differences between males and females, older and younger Millennials, ethnicities, and more are highlighted, and relevant statistics are streamlined into an easily consumed, concise, visual takeaway. (Ypulse)

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