Millennials have impacted how and why we do things as a society. They have slowly made their mark on the changing world, and these changes are starting to come to fruition.
Recent studies have shown Millennials and Gen Z are leading the charge in ethical and sustainable consumerism and the digital transformation of society. With that comes big changes in spending patterns, away from older generations.
Whether you agree with them or not, these are some of the things that may become extinct thanks to millennials refusing to engage in them.
1. Chain Restaurants
When deciding where to grab an after-work drink or splurge on dinner out on the town, millennials are ditching the popular chain restaurants. Chains like Applebees, Chilis, and Buffalo Wild Wings are being passed up for locally owned small business restaurants.
Millennials value seeing their money return to their community rather than giving it to the larger corporate structures that manage the larger chains.
2. Diamonds
The saying, “Diamonds are a girl’s best friend,” might become a thing of the past if millennials have anything to say about it. Hand-crafted options with gemstones are becoming more popular because of the cheaper prices.
Millennials simply do not have as much income as the older generation did at their age. An expensive diamond ring does not fall into a millennial’s budget with little disposable income.
3. The Wedding Industry
Millennials are changing the way couples spend their money on their wedding day. Millennial weddings are more likely to be held in a backyard or open space and catered by a food truck rather than in a fancy venue with an expensive caterer.
Due to health concerns, the pandemic also made many ceremonies smaller and more intimate. Lavish weddings might slowly fade if the trend millennials have set continues with the future generation.
4. Cable TV
Millennials might have been the first generation of cord-cutters. With the rise of streaming services like Netflix, Hulu, and Apple TV, there is no need for a costly monthly cable package.
These streaming services make it easy for customers to find their favorite shows and movies, while the old cable method has yet to adapt to a changing culture.
5. Wasteful Products
Single-use items, like paper plates, napkins, plastic water bottles, straws, and bags, are being passed up for reusable totes and metal water bottles. A Yeti or Stanley portable water bottle is almost a fashion statement.
Millennials are much more educated and concerned about climate change, and anything to lower their carbon footprint is viewed as a small victory.
6. Big Beer Companies
The trend for local, small-batch breweries and beer pubs has been rising among millennials. The connection these small brands have to their communities is what appeals to this generation.
Wearing your favorite brewery shirt is a hip way to show you support your community and prefer giving your money back to local business owners.
7. Houses
Let’s be clear here. It is not that millennials don’t want to buy a home; it’s that they simply can’t afford it. With the rising cost of homes and their upkeep, millennials are opting to rent or live with roommates to save money.
Studies have shown that housing costs have drastically gone up since the 80s, with wages struggling to keep up, meaning millennials will have a tough time becoming homeowners.
8. Department Stores
The rise of online shopping has made it so much easier to buy products without going into the store. We have seen stores like KMart, Sears, and Toy R Us fail and slowly disappear in the past decade.
Sadly, another store might see that same fate. Online stores like Amazon, Etsy, and Wayfair offer items at much cheaper cost and the convenience factor of shopping online.
9. Cruises
Cruises are becoming more of a boomer vacation than a millennial one. Millennials want to absorb a new city’s local culture, cuisine, and ambiance rather than the all-inclusive cruise.
Cruises can be great for a convenient, basic vacation. Still, they don’t provide the thrill of staying in cheap hostels, trying street food, and diving into the vibes of an exotic destination.
10. Business Suits
A suit and a tie have been a standard in business fashion for as long as I can remember. This idea could be disappearing thanks to many young CEOs and business professionals.
Arguably, one of the biggest millennial company leaders, Mark Zuckerberg, never wears a suit. I can get on board with this trend. I never understood why a necktie made me look more professional.
11. Stilettos
Just like the men ditching the suit and tie, women are no longer looking to wear those uncomfortable high-heels in the workplace. The trend to be presentable and comfortable is something millennials love.
I have never worn stilettos, but I imagine they are pretty uncomfortable. Also, I don’t see the need for them to make a person look more presentable in a work situation.
12. Dairy Milk
Prior generations were told that drinking milk helped grow your muscles and build strong bones, but millennials just aren’t buying it. Literally, they are not buying milk anymore.
Dairy Farmers of America have reported a drop in sales by 40% during the lifetimes of millennials and Gen-Zers. With healthier options like almond, soy, or oat milk, dairy cows have been getting a vacation in recent years.
13. Nine-to-Five Work Days
The new normality of more people working from home makes the typical workday look different. Flexibility is key among millennials, and the ability to work hours more conducive to their terms is highly sought after.
As long as the work gets done and it isn’t time-sensitive, this flexibility could benefit both the employee and the boss.
14. Bulk Groceries
Large warehouse retailers like Sam’s Club and Costco are seeing low membership rates among millennials and Gen-Zers. Maybe it’s because this generation tends to live in apartments or smaller homes and doesn’t have the storage space for bulk items.
Or, they prefer to shop at local markets and groceries instead. Either way, these large chains need to find a way to attract the younger generation.
15. Gyms
Millennials are still looking after their health but do so in different ways than in the past. Traditional gyms are being passed over for niche studios like CrossFit, pilates, cycling, and yoga.
The rise in online fitness programs also makes the older gyms seem a little outdated.
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