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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The Newsfeed

Quote of the Day: “A wedding trend I’ve noticed recently is guests not dressing formally to the reception/wedding, more come as you are attitude.”—Female, 24, MI

This week, Mattel introduced an American Boy doll, their first male offering in the company’s 31-year history. New doll Logan Everett is part of a pair of singer-songwriters from Nashville who come with music-inspired accessories. The company reports that customers have been asking for a male doll for some time, and Mattel’s continuing strategy to diversify their offerings helped increase sales by 4% last year. (KidscreenNYTimes

Kids in Australia are spending more time online than watching TV. Research firm Roy Morgan reports that in 2016 six-13-year-olds spent an average of 12 hours a week online compared to 10.5 hours spent in front of the TV, the first time internet surpassed TV since the survey began in 2008. Online time has also almost doubled in the last eight years. The firm says, "The idea that TV is boring no matter what is on is just because TV is so static and it might have ads on it." (ABC

The current state of the White House has ignited Gen Z’s interest in politics—according to AwesomenessTV’s CEO, Brian Robbins. He reports that his own children’s newfound fascination with politics sparked by the recent election has inspired him to bring more political content to AwesomenessTV. Because “[a]n audience that really wasn't that interested is now really interested," the company will move away from “fluffy, horrible” entertainment news into political news, which could be in the form of documentaries, or scripted shows. (Business Insider)

Millennials are reporting higher rates of depression than any other generation, creating challenges at work. To avoid the stigma surrounding mental issues, young employees are increasingly resorting to using personal days to recuperate from anxiety, depression, and other afflictions. According to one expert, “this generation is not necessarily more depressed than workers of past generations, but more equipped to recognize it”—however, they fear judgement from their employers. (MarketWatch)  

Is Snap Inc. really a camera company? They say they are, and in their IPO filing the brand wrote, “In the way that the flashing cursor became the starting point for most products on desktop computers, we believe that the camera screen will be the starting point for most products on smartphones.” WeChat’s ability to read QR codes, Pinterest’s new visual search, and Facebook Messengers’ new visual capabilities all point to expanding capabilities of a camera—and the fact that “users’ experience of the world is increasingly mediated through cameras.” (The New Yorker)  

Quote of the Day: “I have a diamond wedding ring but any stone would be beautiful and appreciated.”—Female, 24, MN

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