Futurist Thomas Frey: By 2025, over 75% of the workforce will be comprised of Millennials, a group many refer to as the Facebook generation. That’s just over 11 years away.
Millennials engage in nearly every online shopping activity.
Millennials have grown up embracing the deep discounts and convenience offered by online shopping. A January 2013 survey from ad agency DDB Worldwide of US web users’ attitudes toward ecommerce found that both males and females ages 18 to 34 were more likely than their 35- to 64-year-old counterparts to engage in nearly every online shopping activity, with 40% of males and 33% of females in the younger age group reporting that ideally they would buy everything online.
Futurist Thomas Frey: Over the past few days I’ve been wrestling with a very troubling thought.
It started with the simple question, “Ten years from now, anyone who is frustrated with those in power, whether it’s a local, national, or international issue, what options will they have for protesting what they see as an injustice, inequities, or outright corruption?”
16 to 34 year olds are more likely to wield a smartphone or other mobile device as a shopping companion.
We all know that young people like to shop. All before the responsibilities of having a family set in, in the relatively care-free years of high school and college, young people tend to throw their pennies into blouses, jeans and other must-have accessories. (Infographic)
Millennials are thinking entrepreneurially, viewing themselves as microbusinesses operating in a highly uncertain economic environment.
Millennials aren’t alone as they shift from tangibles (cars and homes) to intangibles (education and access to data). The business sector is moving along the same tangible-to-intangible path as the Millennials, perhaps at an even faster pace. Business spending on nonresidential structures, other than mining-related, is roughly 30% below the 2007 pre-recession highs, while investment in software is up almost 20% over the same period.
Because of a trend toward smaller urban living, a bad economy and high debt, the Millennials will likely be a generation of renters for years to come. But there’s a group of young adults we don’t talk about that deserves some attention: Those who are already homeowners.