The younger age groups, being the main consumers of the next few decades, are very vital when it comes to determining market trends: right here is how the digital world affects them.
One field that has significantly been impacted by millennials and technology statistics is that of home entertainment. As many media types are progressively leaving their classic platforms, such as tv networks and radios, and moving on to online services, things like the structure of content and advertising need to follow through. The usage statistics, incentive of some figures like Vodafone’s Canadian shareholder, indicate how young adult do not consider devices like a tv as a necessity, instead preferring the adaptability of a laptop computer or smartphone screen: the millennial entertainment trends show content consumption happening on smaller screens, as so many watch their preferred show on their phone during their journey to work.
Possibly among the most significant shifts in the last decade regarding the retail industry, and in the majority of its subfields, is the exponential growth of online platforms. As recent studies show that the most downloaded apps on smart phones are the most popular internet-based shops, the millennial consumer trends indicate that marketplaces are not necessarily a primarily tangible establishment today. Needless to say, an industry that is thriving because of this is that of network manufacturers, as revealed by investments by important 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 really need to appeal to this demographic to stay relevant.
Considering how most communications now, from work to relatives to everyday matters, are based online, the very high millennials smartphone ownership stats do not come as a big surprise. With the relevance of social networks being not just a distraction, but for many people a way to manage their life, setting up events and keeping in touch with the indispensable groups of humans in their lives, some companies such as those added 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.
With a demographic of millennials growing up with technology, it is expected that fields such as marketing and advertising need to adapt to the latest digital platforms if they want to appeal to their growing target audiences and still be significant in today’s market. Even those labelled as generation Z are nowadays coming of age and getting in the world of university education or the employment market, so a large 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 begin again: if an ad is not eye-catching in its first few seconds, it will be skipped.