The younger generations, being the primary customers of the next numerous decades, are very crucial in terms of determining market trends: below is how the digital world affects them.
Perchance one of the most considerable changes in the last decade concerning the retail business, and in the majority of its subfields, is the huge growth of online platforms. As recent studies show that the most downloaded apps on cellphones are the biggest internet-based shops, the millennial consumer trends indicate that markets are not fundamentally a primarily tangible establishment today. Needless to say, an marketplace that is thriving because of this is that of network suppliers, as displayed by investments by significant figures like Telecom Italia’s US shareholder. In the age where limitless data and next-day shipping are not just a perk, but something that is demanded, companies honestly have to appeal to this demographic to stay relevant.
With a generation of millennials growing up with technology, it is expected that fields such as marketing need to adjust to the latest digital platforms if they want to be appealing to their emerging target audiences and still be significant in the contemporary market. Even those labelled as generation Z are nowadays coming of age and getting in the world of university education or the employment market, therefore a big proportion of the major customers 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 start again: if an ad is not eye-catching in its first few seconds, it will be skipped.
One industry that has substantially been influenced by millennials and technology statistics is that of home entertainment. As countless media types are progressively leaving their traditional platforms, such as tv networks and radios, and moving on to online facilities, things like the formatting 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 count appliances like a television as a necessity, alternatively preferring the versatility of a laptop computer or smartphone screen: the millennial entertainment trends show content consumption happening on smaller screens, as many watch their favourite show on their phone during their commute to work.
Contemplating how most communications now, from work to family to everyday enquiries, are based online, the very high millennials smartphone ownership figures do not come as a big surprise. With the importance of social networks being not only a distraction, but for many people a way to manage their life, setting up events and staying in touch with the essential groups of humans in their lives, some companies such as those included in Wind Telecom’s parent company are even supplying social media-specific allowances in their data packages, so that their use is not restricted.