The younger age groups, being the primary customers of the next several decades, are very important when it comes to determining market trends: here is how the digital world influences them.
Contemplating how most interactions presently, from work to relatives to everyday errands, are based online, the very high millennials smartphone ownership figures do not come as a big surprise. With the importance of social media being not only a distraction, but for so many a way to organise their life, setting up events and keeping in touch with the indispensable groups of individuals in their lives, some firms such as those incorporated in Wind Telecom’s parent company are even supplying social media-specific allowances in their data packages, just so that their use is not restricted.
One industry that has significantly been influenced by millennials and technology statistics is that of home entertainment. As numerous media varieties are gradually leaving their conventional platforms, such as tv networks and radios, and moving on to online platforms, things like the layout of content and advertising need to follow up. The consumption statistics, motivation of the likes of Vodafone’s Canadian shareholder, reveal how young adult do not count devices like a television as a necessity, instead preferring the adaptability of a laptop computer or smartphone screen: the millennial entertainment trends show content consumption occurring on smaller screens, as numerous watch their preferred show on their phone during their commute to work.
With a generation of millennials growing up with technology, it is expected that areas such as marketing and advertising need to adapt to the latest digital platforms if they want to be appealing to their growing target audiences and still be relevant in the current market. Even those referred to as generation Z are today coming of age and entering the world of university education or the job market, so a big proportion of the major consumers will soon be digital babies. Content is therefore becoming more interactive, briefer: gone are the days where one would spend ten minutes in front of the television watching adverts waiting for their movie to start again: if an ad is not eye-catching in its first few seconds, it will be skipped.
Perhaps just about the most large shifts in the last decade concerning the retail industry, and in most of its subfields, is the huge growth of online platforms. As recent studies show that the most downloaded applications on mobile phones are the best known internet-based shops, the millennial consumer trends indicate that marketplaces are not fundamentally a primarily physical institution presently. For sure, an industry that is thriving because of this is that of network service providers, as shown by investments by major figures like Telecom Italia’s US shareholder. In the reality where unlimited data and next-day shipping are not just a perk, but something that is demanded, companies definitely need to appeal to this demographic to stay pertinent.