Millennials Are Changing These 3 Industries
When was the last time you had that conversation with your parents trying to explain to them that the world is really changing? Nobody seems to not want to work for the government and live a “traditional” life. Technology is on an everlasting rise and we all know “it’s where the money at”. These games nowadays are so addicting that we just pour our money into. Not to mention, fashion and retail. Kylie apparently raked 400 million from it. We found this article on Forbes about the most attractive industries to Millennials and how they are changing them. You should check it out.
Originally written by Deep Patel, CONTRIBUTOR for Forbes.
Millennials Are Changing These 3 Industries:
1) Internet Of Things
No one can deny Millennials’ proclivity for technology. This age group has had access to the Internet since childhood and cell phones since high school, and they were the first to adopt the social networks that now shape our cultures. They are technology natives through and through. This innate comfort with tech makes them highly prepared to take on industries like the Internet of things.
The Internet of things (IoT) refers to electronic devices that are connected to the Internet. The IoT enables us to set our alarm systems after we’ve already left the house and control room temperatures from a distance. This digital doorbell by Nortek Security & Control can even monitor our smartphones to see who’s standing on our doorsteps.
Although some of these products may seem like niceties rather than necessities, the IoT holds massive implications for the realm of security. In fact, “Connected Security” is one of the marquee exhibitions at the 2017 International Security Conference West Exposition. Millennials are given credit for leading the charge in the IoT movement simply because technologists and retailers know that this age group expects connectivity in everything they do.
Millennials’ behaviors are among the most impactful driving forces behind the IoT movements, and in the coming years, their thought leadership will likely also guide IoT progress.
Source: jdzcity
2) Retail
The retail world is vastly different today than it was 10 years ago. From same-day delivery to in-story VR systems, consumers are engaging with brands on a deeper and more immediate level.
In today’s retail landscape, the story behind the brand is just as important as the product it sells; to resonate with consumers, and especially younger consumers, brands have to cultivate a lifestyle and infuse their collections with meaning.
As a generation that grew up connected to the Internet, millennials have different expectations when it comes to engaging with retailers. They expect complete transparency, personalization, and choice.
Some of the most innovative retail brands entering today’s markets are run by millennials and are designed to offset costs by increasing production efficiency, supporting consumer wellness goals and giving back to communities in need. Ellie Dinh, the founder of The Girlfriend Collection, was recently featured in Forbes’ annual “30 Under 30” list. Her company creates sustainable, socially conscious direct-to-consumer active wear.
Dinh has taken the passion points that drive millennial retail interests—wellness, sustainability, reasonable pricing and social consciousness—and seamlessly blended them into one product.
Millennials and gen zers are assuming greater spending power as they grow older, and retailers across all product categories have to meet their expectations. Retailers who follow the leads of innovative Millennials will better position their brands to stay relevant in the coming years.
3) Gaming
It may further the stereotype that Millennials are hanging out in their parents’ basements and playing video games, but the truth is that this generation will make a serious impact on the future of gaming.
Millennials aren’t just helping to make video games and systems more sophisticated (although they are involved in that movement); they’re also expanding the potential of what gaming can do for people.
Millennial gaming enthusiasts recognize the power of games to further educational progress and do social good. Lishan AZ, a game designer from the University of Southern California, was recently named to Forbes’ “30 Under 30” for her work in creating a game that introduces students to the campus and teaches situational awareness.
Another influential player in this sphere is Skyless Game Studios, a gaming platform run by millennials. Their mobile game City Hall teaches users the ins and outs of government, with the ultimate goal of inspiring increased civic involvement. More millennials are stepping to the forefront of this industry and introducing sophisticated games that offer more than just entertainment value.
In addition, more millennial women are stepping into leadership roles in an industry historically dominated by men, opening new doors for diverse voices to ignite change in the gaming community.
A common thread that unites future millennial leaders across industries is a desire to design solutions that increase efficiency as well as a deep-seated desire to help people along the way.
Though they receive plenty of flack, this is an age group invested in social affairs, and they are finding ways to blend social causes with business models to create long-term solutions. Some millennials are just a few years into their careers, and if the advancements their peers have already made is any indication, this age group will make radical progress in the coming years.
Millennials are the media’s favorite generation.
For the past several years, this demographic has endured the glare of a media spotlight determined to understand who they are, how they got here and where they’re going.
Millennials have been called many names, from technology addicts to entitled to lackadaisical. However, though stereotypes are always born out of some degree of truth, these descriptions fail to capture and celebrate the potential of this age group.
Born between 1981 and 1997, this is a generation still reeling from the aftermath of a painful recession. While graduating college during or just after a financial crisis may have contributed to their spending more time in the nest, it has also given them a unique perspective on the state of the world and the ways in which they can contribute.
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