How Millennials Are Influencing Business Priorities

how millennials buying behavior influence business priorities generation y consumer trends

Millennials, also known as ‘Generation Y,’ have been the subject of heated debates for many years now. These people, born between 1980 and 1998, are a diverse and idealistic generation, unmatched by their predecessors and successors (even Gen Z so far). There are generalizations and criticisms of Millennial men and women with various perspectives, but they can't be ignored by businesses. Their impact is unparalleled in the modern economy and markets.

Many axioms are attached to millennials - from their tolerance level, political beliefs to their sense of entitlement and disconnection from the world. But one substantial thing which does not receive much appreciation is their power to influence the world. With the growth of generation Y and its inclusion in the workforce, numerous industries and sectors have been greatly affected. As millennials stand for a sustainable world and promote eco-friendly products, given their mindset, businesses are now reprioritizing their goals. They are constantly embracing change and innovating their products and services on the behest of this young generation of safeguarding the ecology of this world. 

These groups of young people are usually recognized by their objective of enjoying the best of their lives. They indeed keep on trying a lot of new and exciting things in the pursuit of happiness and fun. Whether they invest in big tattoos, spend their time on making their online dating profiles, or posting their every on Instagram, this generation has a taste for things they follow and enjoy. Nevertheless, today, we will shed some light on how millennials are contributing directly as well as indirectly for the betterment of the world. They are influencing major businesses to review their priorities. How are they actually doing it? Keep reading to know how Millennials are influencing businesses around the world. 

Vape Instead Of Cigarettes 

Most adults are accustomed to cigarette smoking since their adolescent years. Millennials have been a part of this group of chain smokers, but they rather prefer ecofriendly products, like vape pens and e-cigarettes. They come with a range of flavors and vapors laced with nicotine. If you have not tried this as of yet, then you might want to see for yourself. 

A vape will stimulate the idea of smoking with lesser risk to your body, lungs, and the environment, of course. Millennials should have no trouble using a vape pen to see if they can replace it with their daily cigarette as it comes with a reduced cost and less significant damage to their health. 

Trend Of Reuseable Straws 

Reusable straws are another eco-friendly alternative that millennials are passionate about. Not only are they a great way to reduce plastic waste and its accumulation, but there are thriving markets that are using this idea to come up with innovative products. 

Millennials enjoy plastic straws because of the ease of the stainless steel and the safety that comes with it. Besides this, glass straws are another popular choice that millennials are replacing with plastic ones because they are easy to clean, and they also give a unique look to your cutlery. 

Recycled Clothing Items 

Millennials avoid purchasing clothes from brands that produce a lot of waste and damage the environment. Recycled clothing is a business venture that this generation has invested in and worn for themselves. Not only do these materials prove to be sustainable in the manufacturing process, but with the limited use of chemicals and water, they are a booming industry for young millennial shoppers and their changing lifestyles. 

Electric Cars 

While there is a constant mockery surrounding the financial instability of this generation, they are prone to giving their attention to good causes. With the advent of electric cars that ensure that energy and water are conserved in the manufacturing process, millennials are going out of their way to purchase their own vehicles. These cars have recyclable fabric for their seats, reinforced plastics for the body of the automobile, and produce close to zero emissions while driving. 

Millennials also fancy these cars because they can be recycled later on once their time of use is over. Thus, adding to the efficient management of sustainability. 

Biodegradable Waste Bags 

If you are someone who has a lot of pets at home, you probably go through a lot of polythene garbage bags. These waste bags and their constant use is harmful because of their non-biodegradable nature. Millennials are fond of both pets and sustainability; therefore, they are investing in biodegradable garbage bags. While their animals create waste, they simply clean it up and cause no damage to their surroundings. 

It is also a matter of pride that the activism of these millennials pushed many governments around the world to ban the use of plastic shopping bags. The old manufactures of polythene bags are mostly revamping their firms now to produce biodegradable bags for a sustainable future. 

Buying Ethically Sourced Coffee 

It is no secret that millennials drink a lot of coffee. The same can be said for baby boomers and Generation Z. But millennials like to follow a new path in this aspect as well. They are trying out something new, instead of heading off to local Starbucks for a store-bought cup, they are seeking out cold brews and ethically sourced coffee beans. Not only do they taste better than pre-packaged coffee options, but they are sustainable and gourmet products that add to the fun of the beloved beverage. 

Bottles And Cups For Multipurpose Use

As mentioned before, millennials enjoy their token beverages. But with this luxury, comes the fear of leaving excessive plastic waste behind. This is why bottles and cups are being made for multiple uses for these young individuals. These new stylish cups and containers match the aesthetic and look of your favorite Starbucks cup but will be prepared from a safe material, like silicone. Besides this, plastic bottles are being replaced with stainless steel alternatives, for long-lasting use and for the protection of environmental resources. 

The Bottom Line On Millennials & Businesses

While the millennial generation is considered to be entitled and superficial, there is a common misunderstanding surrounding their lifestyles. As more and more young people engage with social and environmental issues, millennials will soon be at the forefront of new business growth and opportunities. With their interests and preferences reaching new markets, it can be seen why sustainable products and their use in daily life have been given such limelight to prosper and thrive. Only time will tell how Generation Z compares as they start impacting business even more.

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