Millennials are killing industries – or are they?

03 Apr Future

Millennials get a tough time in the press. When we aren’t being called snowflake cry babies by Piers Morgan, we are busy trying to get the perfect selfie or eating an avocado. Or so the media would have you believe! A piece of research from the US lists various industries millennials are killing, including:

• TV
• Beer
• Cereal
• Department Stores

Are we really killing these industries? Or have our habits changed, and these industries have failed to evolve with us? Or are we just broke? Millennials are busy trying to balance work and study, whilst also trying to go the gym and eat their 5 a day / drink the recommended 25 litres of water a day (slight exaggeration, but you get the point). There aren’t enough hours in the day to sit down and watch TV, and we don’t get paid enough to go shopping on the High Street!

Whilst millennial habits may be ‘killing’ industries, we are shaking up and boosting others.

Everyone is a photographer these days thanks to the camera on their phones. But with smartphones saturating everyone’s lives, millennials want other ways to experience photography. Instant photography has experienced a resurgence due to people wanting something tangible in today’s digital world, and this helped boost sales in the camera industry after a 5 year decline.

Millennials have also helped boost the coffee industry in the UK, with more than 95m cups being consumed a day! That’s an increase of 25m over the past 10 years! At least those overnights in the library benefited something then.

Although we are eternally skint, when we come in to a bit of money, we like to spend it on travel. Millennials make up 20% of international travellers (spending $180 billion) and are also 23% more likely to travel than older generations. When the price of a house is too daunting, book Ibiza instead!

So, whilst it is inevitable we are going to be blamed for the failure of another industry to move with the times, maybe we should just start inventing our own? Facebook, Spotify and Air BnB are all businesses which were started-up by millennial entrepreneurs. Don’t let the media hype fool you! Next time you read a negative story about millennials, you can chuckle into your coffee and squashed avocado on toast knowing that we are working on something better.

Written by Aaron Scullion – Angry Millennial