Murdering millennials: young adult spending habits impact industries

By Renin Broadnax
March 30, 2018

A group of young socialites characterized by “selfies” and social media is known as the millennial generation. If you were born between the years of 1981 and 1999, then you are considered a millennial.

Our generation is responsible for ushering in many new ways of completing everyday tasks, whether it be communicating, shopping or dating. If you compare it to past generations, the way to take part in these normal aspects of life has been transformed.

Millennials are not just responsible for giving new life to our society; they are also the alleged culprit for the deaths of many industries in today’s day and age.

Businesses claim to be disappearing because they cannot appeal to this generation’s constant switching in interests, including eat in restaurants, movie theaters and home ownership. These places or items all appeal to earlier generations, but are now fading.

Applebee’s has stopped trying to appeal to the millennial generation. Photo from Wikimedia Commons.

Applebee’s has stopped trying to garner the interest to this generation because their marketing strategies are simply not working.

According to Fox News,  “Applebee’s has given up trying to appeal to this trend-crazed generation and moved on to a more traditionalist’s demographic.”

Millennials are allegedly responsible for killing off many businesses: gum, designer bags, banks, yogurt, handbags and home ownership, just to name a few.

It definitely sad that people are losing their jobs because our generation isn’t spending as much money; however, if businesses stopped and reconsidered the financial state of this generation, they would have uncovered that its not that we don’t want to spend money; the fact is we don’t have it.

It is also ironic that mainly the hardest critics are the older generations when it was they who made it so hard for us to obtain the same basic necessities they so easily acquired during their era.

According to the Washington Post, “Boomers soaked up a lot of economic opportunity without bother to preserve much for the generations to come.”

Young adults are low on funds. Photo from Pixabay.

Homeownership, car ownership, eating out— all of these aspects of life are so much more expensive for millennials than they were fifty years ago.

The infrastructure in America has been damaged by past generations and has made it extremely hard for the next generation to fully establish themselves. Then, as the cost of living has risen, the average amount of pay has stayed stagnate and, some areas, declined.

Yes, we are a fickle and a tad bit more attached to our phones than we should be; however, the reason for businesses failing is not as a result of this generation. Baby boomers reaped the benefits of the economic boom during there prime and depleted all the resources that were needed for the incoming generations.

I know its a hard concept to grasp for businesses and baby boomer’s alike, but how do you think we feel? We are the ones low on funds.

Also, the next time you think to ask your teenager, “Why are you always on your phone,” remember: the internet is free.

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Renin Broadnax

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