Ypulse’s Predictions for 2017

We told you what other experts are predicting for 2017, now here's the Ypulse team's forecast for what the next 12 months might hold in media, spending, entertainment, technology, and more... 

RETAIL/SPENDING

More Millennials Will See the Green Light

We predicted that Millennials would begin to flex their financial force in 2016, and we saw it happen: they’re outspending older shoppers in dining, experiences, and more. But it’s no secret they have a fraught relationship with money: young adults during the recession have seen the U.S. financial system at its worst, and have been forced to live out its consequences. But as the recession slowly fades from memory, we’re primed for a money revolution. In 2017, Millennials are looking to take control of their finances: 22% of all 13-34 year olds say becoming financially independent is their New Year’s resolution–and the number is higher for those over 25 [46%]. And while 29% are still nervous and overwhelmed when they think about money, an increasing number of Millennials are optimistic [33%] and confident [25%]. We think this is the year that more of the Millennial generation moves out from Mom and Dad’s house and starts seeing green: they’re going to save more, spend smarter, and learn how to maximize their spending power. It helps that they’re advancing in their careers, but they’re also finally seeing and using financial tools that reflect their behaviors and attitudes. As financial apps like Venmo grow in popularity and replace traditional banking institutions, their agency over their own finances will only increase, and money will become less a source of anxiety and more a tool for empowerment that helps them get what they want. Don’t expect this to mean a bounce-back to a mirror of the Boomer-era economy: this generation spends…

 
 

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The Newsfeed

Quote of the Day: “When deciding what products to buy, what’s most valuable to me is reviews from users regardless of whether or not I know them.”—Female, 32, MA

Adidas is continuing to take customization to the next level, with a new pop-up store that creates custom clothes in a majorly futuristic way. Knit For You, located in Berlin uses a laser body scanner to determine exact measurements for their personalized merino wool sweaters. To select their design, shoppers go into a dark room where patterns that can be adjusted with hand gestures are projected on their chests. The final chosen product is then knitted, washed, and dried in-store to be picked up in hours, for the price of $215. (Business Insider

BuzzFeed’s wildly popular food platform Tasty is expanding into the coffee business. In a partnership with NBCUniversal, Tasty has begun selling Brooklyn Roasting Company coffee beans, and of course, they’re “offer[ing] a quiz to help with decision making.” Quiz-takers will be asked about their favorite fruit, how they feel about caffeine, what their ideal morning is like, and more, to which they can answer with emojis. Once the coffee choice is made, consumers can make it even more personal by creating their own labels. (Grub Street)  

Chinese Millennials are using digital devices for “connection, discovery and actualization,” more often than their American counterparts. A recent global survey from Labbrand found that 85% of Chinese Millennials are using their phones to make in-store payments on a weekly basis, compared to 44% of U.S. Millennials. They’re also more likely to broadcast their behavior online: Over seven in ten Chinese Millennials are posting movie, restaurant, travel, and other activity-related reviews weekly and over half say they share everything they do online, compared to 44% and 28% of U.S. Millennials respectively. (ReadITQuik

What cities are Millennial homebuyers flocking to? According to an analysis by LendingTree, the top three are Pittsburgh, Washington, D.C., and Des Moines, Iowa—based on mortgage requests by those 35 and under. The online loan company says that on average 36.1% of all their mortgage requests came from the age group, a slight increase from the year before, which they say is “thanks to a stronger jobs market and overall economy.” They expect to see more young buyers looking for homes as financial situations keep improving. (Yahoo FinanceCredit.com

YouTube is being criticized for filtering LGBTQ content. Recently, YouTube creators have discovered that some content featuring LGBTQ titles and themes are being filtered when users enable “Restricted Mode” to screen out “potentially objectionable content.” YouTuber Neon Fiona pointed to her own page as evidence, citing that videos with “girlfriend” in the title were filtered under the mode, but videos with “boyfriend” in the title were not. Not all LGBTQ content is filtered and one YouTuber observes, “This is something that no one’s really sure how it’s working.” (Tubefilter

Quote of the Day: “When I was watching the Super Bowl, I switched the channel or left the room when it was a commercial break.”—Male, 27, MN

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