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 favorite place to shop online is Sephora, because I love high end makeup and I love reading about what's new and watching tutorials on how it works.” –Female, 26, MA

We’ve seen everyone from food startups to fast-food chains label their food “artisanal” to appeal to Millennials—and there is good reason. It turns out there is generation gap when it comes to consumers’ reaction to “artisanal” and “craft.”  Millennials are more likely than older consumers to say that the labels “handmade/handcrafted, “craft,” and “small batch” tell them a product is high quality, and also more likely to say that descriptors like “artisan/artisanal” have some influence on their purchases. (MediaPost)

To sell wine to Millennials, brands have had to drop the exclusivity and embrace a more unpretentious attitude. Sparkling wine brand Chandon is relying on Instagram to get their bubbly message across to young females, making it their top social platform, over Pinterest. Their colorful, summertime images, featuring captions like “Today calls for Rosé,” are a part of their effort to get sparkling wine “out of the holiday rut.” (Digiday)

Older generations who hear about anonymous apps like Whisper and YikYak have one main question: why? Question and answer site Ask.fm’s recent study asked them, and found that 40% of 13-18-year-olds said anonymity online allows them to talk about difficult topics—only 4% said they would talk about the same things if their name was being used. (IBT)

New parents will do just about anything to get their kid(s) to go to sleep, as one self-published book is proving. The picture book The Rabbit Who Wants to Fall Asleep made the Amazon bestseller list by claiming to put children straight to sleep. Sales skyrocketed quickly, going from selling just 324 copies on August 16th, to 29,000 at the end of last week. It’s rumored that Random House has bought the rights to the miracle book. (Publisher’s Weekly)

Restoration Hardware is going after the teens “who ha[ve] everything.” Their new high-end post-childhood line RH Teen includes chandeliers, and fine art photography, and the brand hopes to capture young consumers as they are finding their own identity and becoming independent as decorators of their space. Unlike some brands, who are co-creating their products and marketing with young consumers, Restoration chose to launch RH Teen without focus groups or studies. (WSJ)

According to Pew, a third of Millennials frequently use their phones in public for “no particular reason,” and 13% say they frequently use their mobile devices to avoid interacting with other people. (Queue the “anti-social Millennial” pieces.) But another study might shed some more light on their “for no reason” phone use: 60% believe their smartphones enhances their leisure time. The research hypothesizes that young consumers are using phones for moments of “micro-leisure” throughout the day. (Washington PostSocialTimes)

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