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: “My dream car has always been a Chevy Silverado. After I have paid off all of my debt including student loans I will save to pay cash for the truck I want. I have a 3 1/2 year plan to pay off my debt and if I then take the money I am paying towards my debts and keep saving I should be able to buy my truck 1 year after that.” –Female, 22, OR

The mall doesn’t hold the same place in American culture it did twenty years ago, but it may still play a role in teen shopping tastes. A Teen Vogue survey reports that teen girls still like shopping in malls, with 65% of 16-26-year-old females saying they will do the majority of their holiday shopping in store. The top reasons they preferred mall shopping to online were seeing products in person, hanging out with friends, and bonding with their moms. (Awww.) 61% say they create their own wishlists by walking through the mall as well. (Chain Store Age)

Start hoarding bourbon. In 2015, the smooth spirit will be more expensive, thanks in large part to its popularity with Millennial consumers. Domestic bourbon sales have increased 36% in five years, and some distilleries are rationing their bottles for the first time since Prohibition. How’s that for the power of the craft cocktail trend? Bacon, that perennially trendy meat, will also continue rise in price. (Deal News)

McDonald’s sales continue to fall, and their problems attracting young consumers have been well documented this year. The number of 19-21-year-olds visiting the chain every month has dropped by 13% since 2011. “Desperate to change its image,” the brand’s latest turnaround plan (is this plan E?) includes self-service kiosks, a trimmed down menu, and a search for a “big idea” that will appeal to young consumers’ interest in social good. (Business Insider)

What did Millennials read online this year? A lot of BuzzFeed. Digiday’s look at 2014 in Millennial media consumption found that 39 million 18-34-year-olds visited BuzzFeed at least once, but traditional publications online are also attracting these younger readers. Over 20 million visited The New York Times, and almost 8 million visited The Wall Street Journal. Meanwhile, some “self-proclaimed” Millennial sites like Ozy and Vocativ reportedly “actually attract an older crowd.” (Digiday)

A generation delaying getting married and having children is creating interesting cultural shifts, and some hilariously awkward family moments. When one twenty-something found herself as the only single sibling and was deemed too old to be on her parent’s holiday card, she began to make her own tongue-in-cheek cards “celebrating” her solo, childless status. These hilarious missives, featuring booze and uncomfortable scenes, have gone viral, and she has become a holiday hero of the unmarried. (Mashable)

Have some lingering questions about Millennials that you need answered for an upcoming meeting? That’s what Ypulse is here for. Silver and Gold subscribers have access to Ypulse's trend and Millennial experts for quick, personalized feedback on any topic. After each insights article, subscribers can submit questions and requests directly to our experts and receive instant responses. (Ypulse)

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