Millennials aren't always to blame

Millennials take a lot of flack for "killing" industries. Among the stereotypical explanations: they're too noncommittal to have a gym membership, too immature to buy luxury goods, and too lazy to bother with a bowl of breakfast cereal. We think a lot of these arguments come from struggling company execs looking for a scapegoat. In reality, millennials aren't abandoning gyms; they’re opting for more social, customizable fitness studios. They're not shunning luxury goods; they’re just renting them instead of buying. And they're not too lazy to eat cereal; they're just treating it as a snack instead of a "complete breakfast” (and shying away from hyper-sugary brands). The most successful companies will adapt to these shifting consumer preferences, rather than disparage them. We dig into 12 consumer areas millennials have been accused of "killing" — from raisins & canned tuna to motorcycles & golf — to show you what's really going on. You can see the full post here: https://lnkd.in/g7Ud3V2 #millennials #cpg #retail #consumer

Consumer spending data from Merrill Lynch shows that #millennials are spending more than their older peers at restaurants. “All four demographic groups spend about the same amount of their spending basket on food,” analysts at the bank said in a note out Wednesday. “But Millennials concentrate more of their spending at restaurants while the other three cohorts spend more at grocery stores.” The data, collected over the 12 months ending in June, also shows that millennials are spending more of their income on electronics/hobbies/clothing stores than older generations. This week for #makeovermonday I decided to go all #infographic and included some history for each generation type using key facts, moments, words and a timeline, to go alongside donut charts and waffle charts. Feel free to check out my viz below. Inspired by Generation Type Infographics. Viz link: https://lnkd.in/dFFXK2E Eva Murray, Andy Kriebel #tableau, #tableaupublic, #datavisualization, #datanalytics, #dataandanalytics, #generationx, #babyboomers, #consumers

Millennials take a lot of flack for "killing" industries. Among the stereotypical explanations: they're too noncommittal to have a gym membership, too immature to buy luxury goods, and too lazy to bother with a bowl of breakfast cereal. We think a lot of these arguments come from struggling company execs looking for a scapegoat. In reality, millennials aren't abandoning gyms; they’re opting for more social, customizable fitness studios. They're not shunning luxury goods; they’re just renting them instead of buying. And they're not too lazy to eat cereal; they're just treating it as a snack instead of a "complete breakfast” (and shying away from hyper-sugary brands). The most successful companies will adapt to these shifting consumer preferences, rather than disparage them. We dig into 12 consumer areas millennials have been accused of "killing" — from raisins & canned tuna to motorcycles & golf — to show you what's really going on. You can see the full post here: https://lnkd.in/g7Ud3V2 #millennials #cpg #retail #consumer

One of the key success factor for #banking in the future, if we fully understand the changes in the preferences of the new generations. Latest article of CB Insights collected the most important points why the #millennials are so different. #banking #neobanks #challengerbanks #digitalbanking #digitaltransformation #digitaldisruption