Without a doubt, times are changing. Of course, this also means that spending habits are shifting as well! Millennials are what we call the people who were born from 1981 to 1996. The members of this generation are no longer buying the same products that older Americans could not imagine living without. Let us find out exactly why certain things are becoming outdated in this day and age.
Cars (And Gas)
Millennials are no longer buying as many cars as their predecessors did. In fact, a lot of them do not even have a driver’s license! In the past eight years, the number of drivers aged 18 to 25 years old has gone down by almost 25%. Market experts claim that millennials prefer to take the public commute instead of looking for a place to park. Youngsters have also turned to ride-sharing apps instead.
Fabric softener does what its name suggests. However, it seems like millennials are not buying the product because they are unsure about what it actually does. From 2007 to 2015, the sales for this item went down 15 percent. Washing machine technology has advanced over the years. On top of that, fashion brands have decided that they want to focus more on comfort, so there is no need to spend money on another product at the grocery store.
Millennials are known to be health-conscious, so it seems surprising to hear that traditional gyms are on the decline. Don’t think that it means millennials are no longer working out. They just choose boutique gyms that offer CrossFit, Pilates, or kickboxing instead. The youth want to actually enjoy exercising!
The New York Times has reported that 40 percent of millennials claim they skip this breakfast staple because they find cereal to be “inconvenient.” Shocking, right? The article went on to say that it “was an inconvenient breakfast choice because they had to clean up after eating it.” Yup, this generation cannot be bothered to wash a spoon and a bowl after they eat in the morning.
Business suits do not seem to have a place in the work life of most millennials. This getup just does not make the cut for most fashionistas these days. Certain pant suits are still in style, but the trend shows that casual attire is starting to become the norm. Denim is becoming more common. We all know that Mark Zuckerberg of Facebook has become mega-successful without having to wear suits.
When you think of first-time homeowners, you can probably imagine young people standing outside of their house with shiny new keys. However, they are declining in numbers very quickly. Why? Well, home prices continue to rise up and out of the reach of many millennials. It is also inconvenient for folks who do not want to be tied down to a certain place. People value the ability to uproot themselves when they want to, so it is more suitable for them to rent instead.
There was a time when there were three kinds of milk: two percent, nonfat, and whole. These days, it looks like there is a milk made of any ingredient you can think of: almond, soy, coconut, oat, and more. More people are turning vegan, so they opt for the more environment-friendly option instead! Aside from that, these non-dairy alternatives are also healthier. Milk sales have gone down by 40% since 1970.
Weddings And Diamonds
In the ‘80s, two-thirds of people aged 25 to 34 years old had gotten married. These days, more than half of them are single. Aside from the declining marriage rates, there is a decline in diamond sales among those who do tie the knot. For the marrying types, more unique and less expensive is the way to go. We will miss the fancy venues and all-night dancing, but we can understand why they want to cut corners.
In the past, going to the theater called for a night out. Now, millennials no longer fill up the theater even though bar service, surround sound, and reclining chairs have become more accessible. The reasoning behind this? No one wants to shell out money for a ticket and go to the movie theater when they can stay in their PJs, flick off the lights, and stream movies at home. Convenience is the name of the game!
Costco is definitely a magical place full of gigantic products and free samples. However, most millennials do not see the appeal of buying in bulk. After all, this generation often cooks only for themselves. If they buy many products in one go, a lot of things will probably go bad. Aside from that, millennials prefer just staying at home, ordering online, and then waiting for their groceries to arrive at their doorstep.
Domestic Brand Beers
Once upon a time, a barbecue would not be complete if there were no Coors, Miller, or Budweiser cans in sight. However, you should not expect to see them if you are attending a housewarming or backyard party hosted by a millennial. These days, they prefer to serve and drink iced tea, seltzer, and lemonade instead. Craft beer has become rather popular as well, although some are swearing off beer altogether.
A cruise used to be associated with a boatload of fun! They are more about appreciating the journey as the ships take the passengers from one destination to the next. Millennials are not queueing up to board them, however. How come? This generation chooses more authentic experiences instead of going around in a huge yacht. Not even water slides, lavish buffets, and golf courses can tempt them.
Millennials seem to have beef with, well, beef. In this environment-conscious time, red meat does not appeal to foodies anymore. Many prefer to cut it out of their diets for health reasons, while others do it for ethical ones. These youngsters generally have less money to spend on groceries as well, so it is generally considered to be a luxury among those who have no qualms about eating red meat.
Let us face it, a lot of millennials do not have a proper dining room table, let alone napkins. These pieces of cloth are going out of style! Consumer studies revealed that six in ten households bought them 15 years ago. It has since gone down to just four out of ten. Millennials are more prone to ripping off some paper towels instead. This makes it one less thing to pick up at the grocery store, which translates to savings!
There was a time when mayo was one of the most important condiments. Millennials no longer think this is the case. The sales of this product have been on the decline in the past few years. Some of it has to do with the lack of health benefits. After all, there is not much you can get out of a mixture of oil, egg yolks, vinegar, and lemon juice. Millennials are much happier with avocados, thank you very much.
Once, it was unthinkable to leave the house without a crisp shirt. Those days have since come to pass. Irons are no longer the household staple they used to be. How come? Many fabrics are now advertised to be no-iron and wrinkle-free. People seem to actively avoid fabrics that need to be ironed on the regular. Besides, dryers can typically address creases well enough without doing anything else.
We bet that you do not have a home phone number either. However, we have other digits that might interest you instead. A survey claims that 66 percent of millennials live in a wireless home. Forty-one percent do not have landlines, although this would be higher if network and cable providers did not offer them for free. Cellphones are just much more convenient, so people see no point in wired phones.
In general, the millennial generation has to deal with a lot of debt, climbing housing prices, and stagnant salaries. However, these do not motivate them to buy lottery tickets. According to Gallup, only a third of people aged 18 to 29 are playing the lottery. What a big contrast to the 61 percent of folks aged 50 to 64 who do! Perhaps millennials prefer to put their hard-earned cash into guaranteed gratification.
This is probably less shocking than the other things on the list. There was a time when 20 million postcards were sold in a year. It is now down to 5 million. When email was introduced, postcards started to be less common. However, the sales have taken an even bigger hit with the introduction of Instagram and Facebook! The Internet has truly made our modes of communication a lot more convenient.
If you want to understand millennials, you should try walking a mile in their shoes. Just don’t expect the footwear to be stilettos, however. Millennials are no longer slipping on high heels since comfort is more important to them. This is the reason sneakers have become so popular as of late! Even celebrities have bought into the hype and put on a comfy but stylish pair when they step out.
Life Insurance And Stocks
Millennials are not very likely to invest their money in life insurance and stocks. Seventy-five percent of them do not have life insurance since it is too expensive. When you struggle to pay rent right now, you do not have the luxury to invest in your future. When it comes to stocks, Barron’s reported that only 13 percent wanted to buy stocks. This is likely because they saw the market crash when they were younger!
Do doorbells ring a bell? Millennials are not quite as reliant on these things as the older generation had been. Most people their age live in apartment blocks than standalone houses, so doorbells are not common. However, there is still a good chance that they would not ring it if it is there. It has become more common to just send a friend or family member a text to let them know that they are at the door.
We are sure that you are aware of just how uncommon cable subscriptions have become. Millennials prefer to pay for Netflix, Hulu, or Amazon instead of shelling out money for cable packages. These youngsters are busy folks, so they much prefer to just stream what they want when they want.
Who would have thought that this fast food joint would ever lose its appeal? The drive-thru used to bring a lot of people to McDonald’s, but this is no longer the case. For one thing, this generation likes healthy and fresh food. Chipotle and similar places have allowed them to tailor their meals to their liking as well. While McDonald’s released a veggie burger, it has not really achieved the desired result.
In the past, people could not imagine going on vacation without a comfy hotel robe, room service, and a maid clean up after them. Have you noticed just how different the perception of a vacation is to millennials? For them, it is fine not to stay in a hotel. We already said this earlier, but these folks want more “authentic” experiences. This is the reason they prefer subletting a place or booking an Airbnb instead. Meanwhile, some prefer to rough it out and stay at a hostel or do a farm stay instead!
Golf has always been one of the unofficial American pastimes. However, millennials do not feel enticed to score a hole. For them, it is simply not worth using any of their precious free time on. There are a couple of reasons why millennials no longer hit up the golf course. For one thing, they find the sport to be too expensive or overpriced. Others also think that it is not exciting enough. Remember, these folks live in the age of stimulation, so we can understand why they cannot appreciate this sport.
Bars Of Soap
If you are a millennial, we bet you cannot even remember the last time you put a bar of soap in your grocery cart. How come this hygiene product is no longer as popular as it used to be? No, it does not mean that millennials are not washing up. On the contrary, MarketWatch reported that 60 percent of millennials believe them to be full of germs. They prefer to use body wash instead! While 60 percent of American senior citizens have no issues using a soap bar on their face, just a third of millennials would do the same thing. Interestingly, this has not spelled the end for the “soap cutting” trend.
When it comes to eating restaurant food, millennials have two choices. They could either get the food they want through Seamless and Uber Eats or wine and dine properly at a fancy restaurant. This does not mean good things for the likes of Applebee’s, TGI Friday’s, and other casual dining joints that do not fall into those two categories. Market studies have revealed that these places have been seeing declining sales in the past couple of years. Some CEOs say that Millennials are to blame for this! At the moment, these places are trying to come up with ways to attract the picky millennials.
There was a time when we were convinced that the center of the shopping world was the department store. The huge stores came with just about anything you would ever need, from accessories to shoes to makeup to furniture. If you are a millennial, we are sure that you have figured out why these places have been deemed outdated. The thing is, people went to department stores for their convenience, but we now have an even more convenient way to shop: the internet! Why tire yourself out by going from one floor to the next when you can get everything you need in the comfort of your own house?
Sadly, it is not really a reach to say that millennials are financially struggling as a whole. CNBC reported that 62 percent of this generation currently live from paycheck to paycheck. However, you are wrong if you thought that they would feel like joining the lottery. Nope, millennials have figured out that there is a very slim chance of ever winning and decided that the gamble is simply not worth the risk. In 2016, Gallup conducted a survey and found out that only a third of American millennials have played it in a year. More than 61 percent of folks aged 50 to 64 say that they bought a ticket in the past year!
It looks like McDonald’s is alone when it comes to the struggle of getting millennials through the door. Fast food restaurants across the board see a huge decline in Millennial clientele and even their Gen Z counterparts. These huge companies clearly know that this is not a good thing, so Burger King and other joints have tried to introduce healthier and environment-friendly options. The generation is more attracted by healthier options than those that went before them. Fast food joints might go out of style altogether if they do not figure out how to win millennials over. We wish them the best of luck.
There is a good chance that you should not rely on a doorbell if you want to gain entry into the home of a millennial. No, you are better of shooting a text message to the person who owns the place! As a whole, millennials no longer use doorbells. The first reason for this would be the fact that youngsters now live in apartment buildings instead of individual houses. Aside from this, the Wall Street Journal reported that “some smartphone-carrying Millennials and Gen Zers are so used to texting upon arrival that the sound of a ringing doorbell freaks them out.” People have gone as far as to say that the doorbell sound is “terrifying.”
When it comes to the reality TV shows of the early 2000s, the stars were often decked out in brand name labels. Even though this used to be a popular trend, the millennial generation is not interested in shelling out money for designer wear. Young people are much more interested in spending as little money on their clothes as possible, which explains the rise of fast fashion lines and thrift stores. The more economically and environment-friendly generation seems to be more practical than the folks who came before them in more ways than one! We are pretty impressed to hear that this is the case.
Wine With Corks
In the past, it was a disaster when you forget to pack a corkscrew with you when you were out on a picnic or an outing. The good thing is that you can now enjoy your bottle of wine even without one in this day and age. Millennials are much happier when they buy screw-off tops instead of corked bottles. As consumers, they love bringing wine over to gatherings and sharing it with others. However, it does not seem like a good idea to bring corkscrews wherever they go. We all know just how frustrating it can be to have a bottle of wine with you but stay unable to open it since you forgot to bring one utensil!
Nowadays, motorcycles are no longer as rampant on the roads as they used to be. As a matter of fact, the sales of bikes have been on the decline for quite some time now. However, millennials are even less interested in them than most people are. There are a couple of reasons why this is the case. First, these things can get pretty pricey. This has actually led to Harley Davidson and the like to start introducing cheaper options. However, millennials are aware that it can still be pricey to maintain a motorbike. Lastly, the age group is simply not all that fond of this transportation method.