MOVE OVER PINK; MILLENNIALS ARE IN LOVE WITH ‘GREEN’

It is no longer a secret that generation Y is more tech-savvy, more informed and more connected than any generation before. Their enthusiasm for human wellbeing and that of the planet gives me hope that finally, we have a real shot at creating a healthy and sustainable world.

This generation has puzzled many with their response to sustainability catching the eyes of many in a world where sustainability is being sang on a daily basis. From the corporate world down to the entrepreneurs in the society, the Y generation whose parents (Baby Boomers) are believed to be the parents of sustainability have shocked the world with their spending on sustainable products and services. 

According to a survey, generation Y is said to have disposable income for pricier green goods hence having an influence on the green market with a third of the population accounting to this. Many companies like, Healthy U for instance have singled on the Y generation as their target market with many youth being reported to buy skin products and hair products that are more sustainable. The Youth of this generation are being looked upon to bake sustainability into a product. It’s no surprise why, this is the first generation to be taught about sustainability concepts in school- a factor that has contributed to their enhanced perception about sustainability including its accrued benefits to individuals, environment and the society at large.

Did you know that the millennials have taken the sustainability agenda a notch higher by coming up with sustainable ideas to address economic and social issues in their countries? In India, for instance, young artists are using paints with low levels of Volatile Organic Compounds (V.O.C) to avoid environmental pollution. Previously, artists used paints that contained heavy metals like arsenic, lead and chromium. Such hazardous compounds caused extreme health risks to people, wildlife, and the environment. The switch to sustainable painting compounds is a clear indication that the Y generation, in developing economies, have an inclination towards sustainable products even in the presence of a cheaper but unsustainable alternatives. 

Moreover, this generation is not only waking up, to what would be considered as, catastrophes that the society is blindly sleepwalking into but is also bringing a slew of new values, social networks and entrepreneurial solutions to creating new – and disrupting old – markets and business models to achieve sustainability. The Young generations are growing more aware of demographic changes as well as changes in environment and are increasingly using the power of technology to address this. The Youth of this generation have stepped up to address issues of social injustice as well as environmental issues. Take for instance, the Millennials of Netherlands. The Dutch youth have taken the lead with a large number of the population using bicycles to reduce on carbon emissions. Cycling is now considered as way cooler than driving as the wind of sustainable change sweeps across the European continent. 

As much as the youth’s awareness of sustainability is increasing in present times, outdated myths based on wrong assumptions need to be corrected and development of sustainable business models enhanced in order to tap into the sustainable market created by the Y generation, It is no doubt that the millennial consumer is a driving force for corporate sustainability. At the same time, the millennial generation has a wider range of choices than any generation before them. This implies that they're more promiscuous in their brand loyalty which will be a great challenge for businesses planning to bond with this consumer group. It is therefore advisable for business to conduct surveys seeking insights into millennial consumers' beliefs and priorities and tailor their products or services towards those needs.

As we embark on this era of sustainable consumption marked by a shift in consumer priorities, scores of companies have staked their futures on products they hope will appeal to sustainability-conscious millennials. Production of sustainable products will be a must when millennials will be the world’s largest adult population group and the dominant consumer segment. Consumer companies must, therefore, make bold moves toward production of sustainable products and services.

https://www.edwardmungai.com/node/142