Getting to Know the Millennial Generation

They say that if you want to know the future of the world then you only have to look at the younger generation because they are the ones that will soon rule the world. And this generation's youth are aptly called “millennials.”

This generation encompasses those people that were born approximately between 1982 and 2004. They are described by experts as tech-savvy (due to them being born in the digital age), self-centered (due to the current global obsession in documentation), and materialistic (due to the rise of adverts that promote products as a social status which millennials crave for)

Millennials are vastly different from the previous generation whose general goal is to settle down early and travel the world by retirement. Millennials are obsessed with the now. And getting to know them is crucial not only for market participants to know their wants and therefore what to sell to them but also for the world to see how the world will become with them at the helm of civilization.

There are three concepts that you need to know about millennials: Freedom, Balance, and Community.

Freedom

Millennials highly value their freedom to do what is important to them. They have solid principles and they mostly know what they want in life. As the generation that lives in the now, they crave for travel early and desire to maintain a lifestyle that they are comfortable with. Money is something they don’t mind to work long hours for as long as they achieve their goals right away. This obsession with freedom can be seen in their career choices. As much as possible, millennials want to have the job where they will enjoy. Nowadays, it is rarely that a someone will last for 40 years in just one job. Millennials are willing to jump from job to job until they get the one they like. They are also highly business minded with many of them going into entrepreneurship. Again, all of this is linked to their desire for freedom and excitement in their life.

Balance

Another thing that millennials are good at is maintaining balance. Mostly it is the balance between work and life where they must always do something new, be somewhere unexplored, and live a life full of activities which, more often than, you can see documented on their respective social medias. Millennials are so good at saving but it isn’t for retirement but for the out of country trips, the high class event, and the newest trending product or service. Balance is very important to them because the definer of their life is not long-term accomplishments such as houses or cars but experiences and adventures.

Community

The proliferation of technology as a staple for millennials has given them the voice and the power to stand up for what they believe in. Unlike what is known of millennials, they are actually not selfish but advocates of different ideals that benefit the world. Such ideals include gender equality, climate change awareness, and promotion of animal rights. Millennials want to help the world. In fact, high-net millennials are more likely to become philanthropists because they are more aware of the issues of the world and have an innate sense of responsibility to use their wealth for the betterment of the world.

Millennials are the future of the world that’s why it’s best to get to know them now to be able to cater to their needs as a market participant. They are the generation that want to make the world better by going out there and expressing their freedom.