Access Over Ownership And The On Demand Generation’s Consumption Habits

memeThe Netflix model of having access to items rather than owning them has been applied to dozens of industries, and Millennials are among the biggest adopters of this ever-growing trend. They don’t care as much about owning everything — whether it’s music, TV shows, or luxury dresses — as long as they can obtain these things when they need them. This mindset is what changed the music industry — YouTube is now the top way in which teens listen to music — and this attitude is influencing marketers who want to tap into Millennials’ purchasing, or rather renting, habits.

Rent the Runway isn’t new, but many female Millennials are continuously turning to it when they need a dress for a special occasion. Whether it’s prom, a school formal, their birthday, or graduation, teens and twentysomethings know that this method allows them to wear their dream dress at a more affordable price. This is valuable in that special occasion dresses aren’t worn often, and they can be pricey for something that then collects dust in their closet. However, if they rent a dress, solely for the situation in which they need it, the “runway” dress becomes more attainable. This also reflects a concept in the age of social media where every outfit is photographed and shared across one’s network. Many Millennials worry about their same clothes constantly being captured on Facebook and Instagram, but renting provides a solution in the form of a temporary expanded wardrobe.

Renting apparel also taps into showrooming, another shopping trend we’re seeing in that Millennials are visiting physical stores to scope out the selection, but not buying items in-person. Rather, they’re treating stores as if they were showrooms, and then going online or comparing prices before making purchases. Rent the Runway for example coincides…


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Millennial News Feed

Quote of the Day: “It wouldn’t be Thanksgiving without some family drama.” –Male, 23, MA

The Butterball Turkey Talk-Line has found their anthem, and it’s a Millennial hit. The brand has famously helped home cooks with their turkey efforts for 30 years, allowing anyone to call to get their bird questions answered. This year, the Butterball Twitter account is filled with references to Drake’s “Hotline Bling” and its viral video. Sample parody lyrics: "'You always call me on my landline, from the kitchen when you need my help." #TalkLineBling #HotlineBling’” (Digiday)

Though Black Friday mania is still high, there is a burgeoning backlash to the day, and according to Ypulse’s holiday shopping survey, 68% of 13-33-year-olds support companies that close their retail locations that day. E-tailer Everlane did shut down their site for two Black Fridays in protest of the commerce chaos, but this year the site will instead donate all its Black Friday profits to its factory workers to create a wellness program that includes free groceries, English lessons, and health care. The brand hopes to raise $100,000 in their Black Friday Fund. (Racked)

Millennials are growing up, and for many that means they’re starting to host their own Thanksgiving dinners—and they aren’t necessarily following every tradition. A Yahoo Food survey found that 44% of 18-34-year-olds say they’ll be serving ham instead of the traditional turkey, 10% are adding a meatless entrée to their feast, and Millennials are twice as a likely not to serve cranberry sauce, but more likely to deep fry or smoke their turkeys. (Washington Post)

It’s a struggle for a brand that only gets attention once a year, and Stove Top is ready for a stuffing revolution to reverse their fate. The brand has introduced a new campaign starring an “Artisanal Hipster Pilgrim,” a Millennial character who is out to convince everyone to eat stuffing all the time with lines like “I’m sorry, I just thought you might like to enjoy delicious things all the time instead of one day a year. My mistake.” The effort includes four comedic online videos and a hipster pilgrim Instagram. (Adweek)

Since more are hosting their own turkey day gatherings, Millennials are also spending more on Thanksgiving, with an Allrecipe survey reporting that 42% plan to spend more this year than they did in 2014. Vice president of consumer and brand strategy at Allrecipes explains, “’(Millennials) are more likely to be buying more artisan, local-crafted products. They pride themselves on being tastemakers and trendsetters.’” Millennials are also more likely to have multiple Thanksgiving dinners to attend…perhaps including a Friendsgiving or two. (Time)

Quote of the Day: “It wouldn’t be Thanksgiving without my cousins' annoying kids running in front of the TV.” –Male, 30, MA

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